NEAR Foundation

The NEAR Foundation is a non-profit organization based in Zug, Switzerland, dedicated to fostering the growth and decentralization of the NEAR Protocol. Its core mission encompasses contracting protocol maintainers, funding ecosystem development, and driving the adoption of Web3 technologies built on the NEAR blockchain. The Foundation plays a pivotal role in nurturing a vibrant developer community and supporting innovative projects that leverage NEAR's sharded, proof-of-stake architecture.

To achieve its objectives, the NEAR Foundation employs various funding mechanisms, including grants and strategic investments. A significant milestone in its ecosystem development efforts was the announcement of an $800 million ecosystem fund in October 2021. This substantial capital allocation was designed to accelerate growth across key sectors such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, and decentralized autonomous organizations (DAOs), showcasing the Foundation's commitment to comprehensive ecosystem expansion.

Within this broader fund, specific allocations were made to target high-growth areas. For instance, $350 million was earmarked specifically for DeFi projects, managed in partnership with Proximity Labs, highlighting a strategic focus on financial innovation within the NEAR ecosystem. While not a traditional venture capital firm, the NEAR Foundation provides crucial early-stage and strategic funding. Typical initial grants for community and early-stage projects can start from around $5,000, while more substantial strategic investments for established teams or critical infrastructure projects can extend into the millions, reflecting their flexible approach to supporting impactful contributions to the NEAR ecosystem.