Digital asset investment company KR1 PLC (AQSE:KR1) has invested US$500,000 (£396,000) into Web3 venture studio Code & State through a simple agreement for future equity.
Code & State is designed to assist the next generation of entrepreneurs to build and earn on the Internet Computer (formerly Dfinity) blockchain and smart contract platform.
Code & State incubates and helps fund the building of new tools, systems and frameworks on the Internet Computer.
Founded by Dominic Williams at the Dfinity Foundation, Internet Computer’s ICP token is one of the top-30 cryptocurrencies, with a market capitalisation of US$2.2bn as of Thursday, 11 May.
Keld van Schreven, managing director and co-founder of KR1, said: “We have been very impressed with the co-founders of Code & State and are keen to help support them on their mission to kickstart the Internet Computer’s developer ecosystem.”