In order to strengthen its ties with blockchain projects in Korea and Asia, the layer 1 blockchain NEAR Foundation, a non-profit organization, has announced Wednesday that it is creating a Web3 center in South Korea.
According to a news statement from the NEAR Foundation, the new Korea hub aims to entice local blockchain specialists and companies to adopt the NEAR Protocol, with a focus on Web3 gaming in particular.
Along with hosting developer and investor meet-ups, hackathons, and promoting blockchain and Web3 communities in colleges, NEAR’s new company will also host events to foster the expansion of its blockchain community in Korea.
Like Ethereum or Solana, NEAR Protocol is a layer 1 blockchain that gives programmers a platform to create decentralized apps (dApps).
Leading venture capital organizations like a16z, FTX Ventures, Coinbase Ventures, and Hashed have invested in the layer 1 blockchain, which is currently running a fund with a value of about US$800 million to spur ecosystem growth.