The gaming-focused Layer 2 crypto challenge almost doubled its worth after saying a brand new $80 million ecosystem fund on Friday.
The challenge’s native token surged from round $1.00 early Friday morning to a excessive of $1.92, up 92% later that day.
The altcoin has turned down from Friday’s highs and is buying and selling at $1.77 on the time of writing.
The worth soared instantly after COMBO introduced The brand new fund, the challenge To inform can be “an integral a part of COMBO’s imaginative and prescient of collaborative world-building and trade progress.”
“The COMBO crew has allotted $80 million to the Ecosystem Fund. These funds will go to builders creating Web3 video games on COMBO, our main game-focused Layer 2 chain. Along with funding, the Ecosystem Fund will present builders with entry to a community of advisors and gaming trade veterans to assist information profitable candidates via the Web3 sport growth course of.”
The challenge says it is searching for builders to “push the boundaries of what is potential” with Web3 video games.
Even after the current rally, COMBO remains to be down greater than 67% from its all-time excessive of $5.44 set in November 2021.
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