Coinbase Ventures is now collaborating with Echo.xyz, an on-chain private investment platform, taking on a role as a “Group Lead” to enhance funding avenues for startups developing on Base.
This initiative is part of the next stage of the Base Ecosystem Fund, which was established to support early-stage projects operating on Base.
Base is a blockchain network created by Coinbase to assist developers in creating decentralized applications. These applications are powered by blockchain technology rather than centralized servers, enabling users to engage with financial tools and digital assets without the need for traditional intermediaries such as banks.
The Base Ecosystem Fund was introduced concurrently with Base to provide capital and resources to teams working on these applications. Since its inception, Coinbase Ventures has backed over 40 projects.
Challenges in Partnership
The collaboration with Echo.xyz aims to tackle two primary challenges. Firstly, many developers within the Base community require additional financial support to advance their projects. Secondly, community members are seeking more opportunities to invest in the initiatives they are passionate about.
By stepping into the role of Group Lead at Echo, Coinbase Ventures is facilitating a connection between developers and investors on a blockchain platform – effectively enhancing access to funding opportunities.
Echo.xyz is an investment platform that empowers qualified investors to fund startups directly via blockchain transactions. Historically, startup investments have been the domain of large venture capital firms or affluent individuals.
Utilizing on-chain investment platforms like Echo makes this process more transparent and widely accessible.
Coinbase Ventures views this as a strategy to foster growth within the Base ecosystem. An increase in funding could potentially lead to more projects being launched on Base, thereby boosting activity across the network.