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ICO beneficiaries like Omise Go, Cosmos, Golem, Maker, Raiden launch Ethereum Community Fund; sources say members pooled $100M, will provide $50K-$500K grants

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ICO beneficiaries like Omise Go, Cosmos, Golem, Maker, Raiden launch Ethereum Community Fund; sources say members pooled $ 100M, will provide $ 50K-$ 500K grants

In a first of its kind, half a dozen ICO companies have come together to collaborate on a new fund that plans to pay out more than $100 million to promising projects in the Ethereum crypto space.

The vehicle — called the Ethereum Community Fund — will be supported by crypto projects Omise GoCosmosGolemMaker, and Raiden, with Japanese VC Global Brain also in tow. The door is open for other projects and companies to join and the fund size could increase independent of that, too.

These are visible members of the crypto space: among them, OMG’s coin market cap is $1.6 billion, Golem’s is $360 million, and Maker’s is $680 million, according to Coinmarketcap.com, while Raiden and Cosmos are highly-rated from a technical standpoint.

Beyond those projects, the Ethereum Foundation, which controls the Ether token that is the base for the majority of ICO projects, is involved with founder Vitalik Buterin confirmed in an advisory role alongside a number of other industry figures.…

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