Echo.xyz and Coinbase Ventures to drive funding for Base projects

Coinbase Ventures has joined Echo.xyz, an on-chain private investment platform, as a “Group Lead” to expand funding opportunities for startups building on Base. 

This move is part of the next phase of the Base Ecosystem Fund, which was created to support early-stage projects on Base.

Base is a blockchain network developed by Coinbase to help developers build decentralized applications. These applications run on blockchain technology instead of centralized servers, allowing users to interact with financial tools and digital assets without traditional intermediaries like banks. 

The Base Ecosystem Fund was launched alongside Base to provide capital and resources to teams developing these applications. Since its launch, Coinbase Ventures has invested in over 40 projects.

Partnership challenges 

The partnership with Echo.xyz is meant to address two main challenges. First, many Base developers need more financial support to grow their projects. Second, members of the Base community want more ways to invest in the projects they believe in. 

By joining Echo as a Group Lead, Coinbase Ventures is creating a way for both developers and investors to connect on a blockchain-based platform – essentially giving them better access to funding options.

Echo.xyz is an investment platform that allows qualified investors to fund startups directly through blockchain transactions. Traditionally, startup investing has been limited to large venture capital firms or wealthy individuals. 

By using on-chain investment platforms like Echo, the process becomes more transparent and accessible. 

Coinbase Ventures sees this as a way to accelerate growth in the Base ecosystem. More funding could lead to more projects launching on Base, increasing activity on the network.