A gaming-focused layer-2 crypto project nearly doubled its value on Friday after announcing a new $80 million ecosystem fund.
COMBO (COMBO), which previously went by the name Cocos-BCX, bills itself as “a leading provider of scaling solutions for Web3 game development.”
The project’s native token shot up from trading around $1.00 early Friday morning to a high of $1.92 later that day, a 92% increase.
The altcoin has retraced from its Friday high and is trading at $1.77 at time of writing.
The price surge happened shortly after COMBO announced its new fund, which the project says will be “an integral part of COMBO’s vision of collaborative world-building and industry growth.”
“The COMBO team has allocated $80 million to the Ecosystem Fund. These funds will be made available to developers who are creating web3 games on COMBO – a leading game-focused layer-2 chain. In addition to funding, the Ecosystem Fund also provides developers with access to a network of advisors an
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