XYO announces that Analog is its first recipient of the XYO Ecosystem Fund

Recently XYO announced a collective ecosystem fund to develop and accelerate projects built around the XYO Network and the Metaverse. The XYO and Outliers fund has pledged $10M in equities and tokens equaling a 20 million dollar investment overall towards the effort. The fund has already garnered attention among many companies, and XYO is proud to announce that the initial recipient to receive funding to build on the XYO network is Analog.

Analog is the first company that is a true Layer-0 protocol powered by blockchain technology, or in other words, a “time oracle.” The technology focuses on a proof-of-time consensus mechanism, recording time on the blockchain for verification purposes. The proof of time consensus can help answer questions such as, “ What proof is there that an event occurred at a specific time?”

Markus Levin, Co-Founder of XYO, said of the investment, “The chance to help further Analog and their goal is our first step along the path to supporting other companies utilize and expand the XYO environment. We’re excited to accelerate the geospatial data revolution while nurturing a like-minded company. This strategic investment is another step towards our goal to provide immutable data that the world can utilize at large.”

Markus continued, “The combination of both time and space, for example, to resolve a smart contract — this information could be revolutionary to so many businesses. It’s inspiring to see another company take what we’ve started and help forward the promise of XYO even further.”

If you’re interested in applying for funding to build on the XYO network and expand the capabilities of geospatial blockchain projects, please email partnerships@xyo.network.