In a recent development, Web3 Foundation has announced a grant for PolkaPort East to advance decentralization and enhance community engagement in the Polkadot ecosystem. This Decentralized Futures grant signifies a significant milestone as the first of its kind presented to an organization in Asia.

PolkaPort East, serving as an independent entity focused on investor relations and growth initiatives in Hong Kong and the Greater Bay Area, will employ the grant to drive growth within the region. The primary objective is to promote the adoption of Polkadot's technology, facilitating strategic investments, and nurturing collaborations in the local ecosystem.

Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, a venture capital fund that centers on Polkadot, highlighted the strategic timing of PolkaPort East's launch in Hong Kong, emphasizing its vital role in increasing decentralization within the region.

Thibault Perréard, another co-founder of PolkaPort East, expressed the organization's intent to leverage the Decentralized Futures grant to engage with the innovation hubs in Hong Kong and the Greater Bay Area, fostering relationships with local governments, global enterprises, and capital allocators.

David Hawig, the Director of Ecosystem at Web3 Foundation, echoed his support for the PolkaPort East initiative, emphasizing the foundation's dedication to promoting decentralized access and innovation in the Polkadot ecosystem. The project is envisioned to play a pivotal role in enhancing connectivity and empowering the community in Hong Kong towards a more decentralized internet.

The initiative aims to attract a diverse range of participants across Asia, including developers, venture capitalists, and Web3 investors, while collaborating with university blockchain collectives, fintech companies, and local governments exploring blockchain technology. The launch of the Decentralized Futures initiative by Web3 Foundation in 2023 aims to support independent teams driving the success of Polkadot, providing funding opportunities for both profit-oriented and non-profit organizations.

Following the restructuring of Parity Technologies to focus solely on technical development, the program has allocated $20 million and 5 million DOT tokens to expand the Polkadot ecosystem, ensuring continuous innovation.