Incubator for blockchain startups Bluehill raised $50 million for the development of ecosystems on the basis of Protocol IOST, reports CoinDesk.

On average, the organization intends to invest $500 million in each project. At the same time on the led-round investment will be $100 thousand, with a consequent increase in.

According to representatives of the project, Bluehill will conduct joint investment activities with Binance Lab and Huobi Capital.

The incubator has already invested in seven projects, six of which are developing decentralised solutions based on the technology IOST.

Investors Bluehill made Sequoia China, ZhenFund, Huobi, operator of the cryptocurrency wallets Bixin and INBlockchain.

Earlier it was reported that bitcoin exchange Huobi is going to create a global blockchain-Fund with an authorized capital of $1 billion.