NEM (XEM) is one of the oldest blockchain platforms on the crypto landscape and has a passionate community. But, I wanted to find out more about NEM Ventures.
NEM Ventures is the venture capital and investments arm of the NEM blockchain ecosystem, which serves to manage the NEM Community Fund. Much like Cardano’s Emurgo, It works like a VC, that will back projects based on their commercial viability, quality and ability to enhance the NEM ecosystem.
Along with receiving funding from NEM Ventures, successful projects that align with the ethos of the NEM community will be provided with expertise from the team. NEM will also incentivize the open sourcing of non commercially sensitive software, benefiting the creativity, productivity and accessibility of other projects in the NEM ecosystem.
The company also recently announced an investment in the ridesharing app, Mobi 28, which provides a safe and affordable carpooling alternative. First hitting the Australian market in Melbourne, Mobi leverages the NEM blockchain to change the face of commuting.