It does not happen all that often that exchanges and trading platforms openly provide financial support to specific cryptocurrencies. OK Blockchain Capital, operated by OK Group, will finance emerging blockchain projects. Their current plan of attack calls for supporting the EOS ecosystem and its supernode venture.
OK Blockchain Capital Supports EOS
For those unaware of the OK Blockchain Capital firm, it is the venture capital arm of OK Group. This company also operates the OKCoin project, which is somewhat popular in the world of cryptocurrency. OK Blockchain Capital has made it clear it wants to finance emerging blockchain projects in the years to come.
That particular business model is not unique by any means. Plenty of VC firms openly support blockchain companies, and it seems OK Blockchain Capital will go down a very similar path. Over the past few years, this VC firm has accumulated a lot of experience, and several key investments have been made in the process.
What is rather surprising is that OK Blockchain Capital plans to support the EOS ecosystem. Although this project is already among the cryptocurrency top 10 ranked by market cap, OK Blockchain Capital feels there is a growing need to support this particular ecosystem in the future. Committing up to $100 million in financial support is not something to sneeze at.
One has to wonder how much this financial support will influence the future direction of EOS. OK Blockchain Capital wants to set up an investment fund for EOS-based projects. This is where most of the financial support will go, as building the necessary infrastructure will take a lot of time, effort, and money.
Additionally, the VC firm aims to promote the circulation of EOS in global digital asset markets, which will entail adding an EOS trading market to OKCoin, among other things. It’s unknown whether that will involve the creation of an EOS and fiat currency pair. This could result in positive momentum for the EOS cryptocurrency, although building an ecosystem for application development is a bigger priority right now.
Whether or not the EOS team will accept this financial support is a different matter altogether. As of right now, it is difficult to determine how far along these discussions have really gotten or how things will evolve in the near future. It is evident a lot of changes may occur in the cryptocurrency world in the next few months, although not all of them will be on the scale of what OK Blockchain Capital aims to achieve.