- Avalanche Foundation and web3 social media platform Op3n announced a $100 million creator fund to build on its blockchain.
- Grimes is launching an “intergalactic children’s metaverse book” on the Avalanche blockchain.
The Avalanche (AVAX) ecosystem has been one of the most active blockchains in the recent past. The smart contract legend has attracted major investments from global investors. According to Altcoin Daily, a YouTube crypto channel with over 1.2 million subscribers, the Avalanche network is blazing with bullish attributes.
The channel outlined three major reasons that investors should be bullish on Avalanche (AVAX). On the top list is the $100 million creator fund. Notably, Avalanche Foundation and web3 social media platform Op3n announced a $100 million creator fund to build on its blockchain.
“The Avalanche Foundation’s Culture Catalyst Initiative with Op3n marks a watershed moment for entertainment and pop culture applications on Avalanche,” said Ava Labs president John Wu.
The other reason why investors should be bullish on Avalanche is the partnership with Canadian musician Grimes. Notably, Grimes is launching an “intergalactic children’s metaverse book” on the Avalanche blockchain.
“When I first got into Web 3, this was the kind of project I was hoping to see,” Grimes said in a statement.
I’m very excited to be partnering with [OP3N] to launch a series of educational art for babies and small children with the goal of creating a profound experience for babies that is also deeply meaningful to adults.
The other reason investors should be bullish on Avalanche according to Altcoin Daily is the incoming subnets. Notably, Avalanche Foundation unveiled a $290 million fund to encourage the development of subnets in its ecosystem.
Avalanche price action and future possibilities
The growth of the Avalanche ecosystem has happened in a short period with few people catching the movement. However, analysts are optimistic the coin will continue rising in the coming years. Nevertheless, competition from other smart contract blockchains like Ethereum and Solana may slow down the process.
More so the Ethereum ecosystem that is preparing for its biggest event dubbed The Merge.
According to Altcoin Daily, the combined news could full-send AVAX token prices. Furthermore, the ecosystem is building and big things are underway.
According to CoinGecko, AVAX coin is up approximately 4.2 percent and is trading at around $95. The asset has a market capitalization of approximately $25.4 billion. AVAX’s average traded volume in the past 24 hours stands around $1.7 billion.
Data by CoinGecko says the asset is up approximately 232 percent in the past year. Additionally, AVAX has gained approximately 16 percent, 38 percent, and 10 percent in the past 30 days, 14 days, and 7 days respectively.
As a utility crypto-token, AVAX has a promising future like other smart contract tokens. Moreover, more money from institutional investors is expected to accelerate smart contract development and adoption. In addition, the crypto market is expected to grow exponentially in the coming years fueled by global welcoming policies.
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