At Breakpoint 2021, Solana Labs announced two flagship funds: a $100 million fund focused on decentralizing social media and a $150 million fund to encourage blockchain-based gaming.

A year on, the funds have only been partially deployed and the focus has been on small seed round investments, according to Solana Labs CEO Anatoly Yakovenko. In terms of the social media fund, Yakovenko said the amount deployed so far is “nowhere near half.”

“We've done like a bunch of small investments, like usually our seed level checks from solana ventures are $100K or something like that. So we're never a big lead,” he said.