Share this article
IOST Blockchain Incubator Launches With $50 Million Fund
Bluehill, a startup incubator for global blockchain projects, launched on Thursday after raising $50 million to support the IOST ecosystem.
By Wolfie Zhao
Updated Sep 13, 2021, 8:05 a.m. Published Jun 21, 2018, 2:00 p.m.
Bluehill, a startup incubator for global blockchain projects, launched on Thursday after raising $50 million to support the IOST blockchain ecosystem.
The firm said in a release that it is now taking in applications from startups on a rolling basis and on average invests $500,000 into a project with "both seed investments of $100,000 and follow-on investments in the low millions."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Notably, the startup claims it will work with Binance Labs and Huobi Capital when investing in companies.
Though its fund will be used to back startups - including their finance, marketing, and recruitment needs - that are built on the IOST ecosystem, Bluehill told CoinDesk in an email that it is "open to all projects irrespective of whether they're presently building on IOST."
"Our focus is on backing the best teams early and aligning our interests with theirs right from the start so that we can build trust and familiarity with the most enduring companies," the firm said.
According to the announcement, Bluehill has already invested in seven decentralized application projects. Among them, two are built on the IOST blockchain while the others are not necessarily committed to a single blockchain protocol.
Launched in 2017, the IOST protocol seeks to provide a scalable blockchain network for the Internet of Services.
The project has received support from notable investors in China, including Sequoia China, ZhenFund, Huobi, crypto wallet provider Bixin and INBlockchain, the capital firm founded by Chinese crypto tycoon Li Xiaolai.
Bluehill said it now has around 50 staff with offices in Beijing, Seoul, Singapore , Berlin, and San Francisco and aims to expand to over 100 employees by the end of this year.
U.S. dollar image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Faces Downside Risk as Social Sentiment Turns Wildly Negative
The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside if risk appetite weakens across majors.
What to know:
- XRP's price approached the $2 mark as social sentiment around the token turned sharply negative, according to Santiment data.
- The token has experienced a 31% decline over two months, making it vulnerable to further losses if market risk appetite weakens.
- Santiment's sentiment model indicates XRP is in a 'fear zone,' where negative commentary significantly outweighs positive talk, potentially influencing market positioning.
Top Stories
