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The Future Fund of the FTX Foundation will provide a minimum of $100 million in 2022 to fund scalable projects in many disciplines.

A future fund has been announced

The FTX Foundation announced the launch of the fund in a statement released on Monday, with the stated goal of deploying a minimum of $100 million and a maximum of $1 billion this year to projects focused on artificial intelligence, reducing catastrophic biorisk, improving institutions, economic growth, great power relations, effective altruism, and other topics. The fund’s goal was to create a philanthropic source that could invest in large-scale projects to improve humanity’s long-term prospects. Caroline Ellison, Gary Wang, and Nishad Singh will all make significant contributions to the initiative, predominantly funded by the FTX Foundation.

A new regranting program has been announced

Nick Beckstead (CEO), Leopold Aschenbrenner, Will MacAskill, and Ketan Ramakrishnan lead the team. Individuals and teams (including non-profit and for-profit organizations) interested in establishing a project in the areas of interest were also asked to apply for the first open financing round by March 21.

In addition, the statement announced a Regranting Program, in which discretionary resources will be allocated to independent grantmakers to assist initiatives that have slipped past FTX’s radar. The team has already invited the first cohort of 21 grantors to test the program, and they are launching a public search for more grantors.

The Foundation has also announced a prize of $5000 for new project ideas to be added to their website’s existing list of initiatives.

FTX is looking at other investment opportunities

FTX Ventures, a new $2 billion venture capital fund focusing on Web3 companies in software, gaming, finance, and healthcare, was launched earlier this year by the FTX crypto exchange. Amy Wu will lead the fund, which will invest in startups at various stages of development, with a particular focus on the blockchain industry.

FTX collaborated with Solana Ventures and Lightspeed Venture Partners to launch a $100 million Web3 gaming fund in November 2021. Recently, the crypto exchange has shifted its focus to the $300 billion luxury goods industry, seeking collaborations with luxury and high-fashion businesses. Lauren Remington Platt, a former model, turned beauty entrepreneur, has been hired by FTX to help navigate the industry and drive the exchange’s push.

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