$8M Goes to Framework Labs after Fund Campaign

Vance Spencer who helped in establishing Framework Labs thinks there is so much to gain from DeFi.

Framework Labs launched a funding program with its affiliate, Framework Ventures, and they got $8 million from the deal.

The biggest investor in the funding campaign was Station 13. Station 13 is a blockchain investment firm that majors in sports, media, and entertainment. Framework says its utmost need at the moment is to increase its team of researchers, engineers, and traders. This sounds true because before now, the firm appointed Ray Pulver who is one of the men that established IDEX decentralized exchange and also its one-time CTO. Roy Learner is also one of the recent appointees. Expectations seem to be high on his side having led Wavemaker Partners for some time.

Forbes made a report yesterday concerning Framework Lab’s new investment model. According to the founders, Michael Anderson and Vance Spencer, a new program known as Network Capital has been created to enable diversification of DeFi investments.

Framework Labs believes in investing in different stages of development. It is not like hedge funds or private equity firms that participate only in one stage of development. It is also interested in developing new companies, giving them money and creating apps for them.

Spencer is optimistic that his company’s move into DeFi is the best decision it is taking at the moment. He says it is the right time to move from traditional investment into the DeFi space.

“It isn’t enough to buy and hold tokens and provide ‘thought leadership’ — DeFi is not a spectator sport. Active participation, governance, building of consumer products, and advanced trading strategies are all part of the complex process of making a DeFi protocol successful.”

Those who started Framework Labs are now often talked about among crypto enthusiasts especially after their investments in Chainlink (LINK) and Synthetix multiplied this year. Before the two created Framework Ventures last year, they started Hashletes Company and sold it after selling non-fungible tokens for some time. Framework Ventures is also highly valued on Uniswap for its contribution towards providing liquidity.

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