Hackathon organizer DoraHacks has raised $20 million in a funding round led by FTX Ventures, the investment arm of crypto exchange FTX, and Liberty City Ventures.
Other participants in the round included Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital and Amber Group.
DoraHacks has curated hackathons for more than 200 Web 3 startups and developer teams, including the Solana, Polygon and Avalanche ecosystems. The backers of the funding round said in a press release that access to the front lines of blockchain development is an attractive opportunity.
The capital will be used to help launch the Dora Grant DAO, a decentralized grant community, and the Dora Infinite Fund, a venture fund focused on non-fungible tokens (NFTs).
DoraHacks had already received $8 million in a strategic funding round led by Binance Labs last November.