Crypto.com’s Cronos launches $100M accelerator for DeFi and Web3
Cronos, a blockchain ecosystem constructed by main crypto trade Crypto.com, introduced the launch of an accelerator program to fast-track developments throughout the decentralized finance (DeFi), Web3 and Metaverse area, amongst others.
Driving the initiative, the Cronos Accelerator Program is backed by $100 million to assist crypto initiatives within the seed and pre-seed phases searching for mentorship, funding and development. In accordance with the announcement, initiatives shortlisted for the accelerator program will likely be matched with appropriate mentors.
A number of the outstanding funding companions backing the Cronos Accelerator Program embody Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz and Dorahacks. Cronos plans to onboard different companions sooner or later. Offering additional readability into this system, Cronos managing director Ken Timsit added:
“Within the present local weather, it’s extra necessary than ever to place our heads down and begin constructing aggressively.”
Timsit goals to boost the potential of initiatives by offering end-to-end assist throughout the challenge’s operations. As a part of this initiative, Cronos’ Web3 startup accelerator arm Cronos Labs conducts weekly workshops that cowl numerous facets of constructing crypto initiatives.
Aspiring initiatives get the chance to obtain between $100,000–$300,000 seed funding along with having the choice for extra grant funding. Along with mentorship and different advertising initiatives, initiatives will have the ability to combine into Crypto.com’s ecosystem together with a DeFi pockets, crypto trade and nonfungible token market.
Associated: Philippines to discover blockchain use instances, launches coaching program
The Division of Science and Expertise (DOST) within the Philippines just lately launched a coaching program for researchers to verify the feasibility of blockchain expertise inside the healthcare, monetary assist and emergency support industries.
Enrico Paringit, a DOST official, highlighted the division’s intent to “construct non-cryptocurrency functions” and concurrently produce blockchain growth specialists for ramping up the federal government’s in-house initiatives.
