TechFlow news, Solana is expanding its operations into Brazil, with the Solana Foundation—the nonprofit supporting Solana-related initiatives—announcing plans to launch local groups and various investments across multiple Web3 sectors in the country this year.
According to local reports, the organization will establish a super team in Brazil dedicated to developing applications on the Solana blockchain, leveraging its low fees and scalability. The foundation has already deployed such teams in seven countries including Brazil, providing paid opportunities and jobs to 700 participants in Solana hackathons and thousands of users.
The organization reported it will invest over $10 million in various areas of Brazil’s Web3 ecosystem, including art, asset tokenization, and artificial intelligence (AI).
Solana views Brazil as one of its priority markets for expansion in 2024, selecting the region as a key area for strategic investment.
