Cronos, a blockchain ecosystem constructed by main crypto alternate Crypto.com, introduced the launch of an accelerator program to fast-track developments throughout the decentralized finance (DeFi), Web3 and Metaverse house amongst others.
Driving the initiative, the Cronos Accelerator Program is backed by $100 million to assist crypto tasks in seed and pre-seed phases looking for mentorship, funding and progress. According to the announcement, tasks shortlisted for the accelerator program shall be matched with appropriate mentors.
Some of the distinguished 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. Providing additional readability into this system, Cronos managing director Ken Timsit added:
“In the current climate, it is more important than ever to put our heads down and start building aggressively.”
Timsit goals to boost the potential of tasks 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 varied facets of constructing crypto tasks.
Aspiring tasks get the chance to acquire between $100,000–$300,000 seed funding along with having the choice for added grant funding. In addition to mentorship and different advertising and marketing initiatives, tasks will be capable to combine into Crypto.com’s ecosystem together with a DeFi pockets, crypto alternate and nonfungible token market.
Related: Philippines to discover blockchain use instances, launches coaching program
The Department of Science and Technology (DOST) within the Philippines lately launched a coaching program for researchers to examine the feasibility of blockchain expertise throughout the healthcare, monetary assist and emergency help industries.
Enrico Paringit, a DOST official, highlighted the division’s intent to “build non-cryptocurrency applications” and concurrently produce blockchain improvement specialists for ramping up the federal government’s in-house initiatives.