Faculty Group Allocates $5M to the Ocean Protocol Ecosystem Fund

Faculty Capital, the venture capital division of Faculty Group, has pledged $5 million to support the Ocean project ecosystem fund.

Ocean Protocol is a platform for data exchange and monetization that builds on Ethereum and other EVM-compatible blockchains. It aims to build a new Data Economy powered by a dynamic group of builders and start-ups. So far, over 150 projects have been funded via OceanDAO and Shipyard programs to encourage and support grassroots innovation.

Cypher Capital, a venture capital firm located in the UAE, today announced that it has set up an ecosystem fund together with Ocean Protocol according to which it will be allocating $5 million to invest in Ocean Protocol projects.