Cronos Labs Launches Second Phase of Its $100 Million Web3 Accelerator

Blockchain startup accelerator Cronos Labs has introduced the launch of its second sequence of the Cronos Accelerator Program. This system, backed by a major funding of USD 100 million, goals to help early-stage cryptocurrency tasks by offering mentoring and funding alternatives.

In accordance with an announcement despatched to BoxNews, Cronos Labs chosen eight tasks to take part in its accelerator program. Every of the chosen tasks—Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Community, and CorgiAI—obtained seed funding of $30,000 to start a 12-week program.

The chosen tasks cowl a variety of areas, comparable to Web3 recreation improvement, decentralized social networking, pet-focused video sharing, good contract pockets integration, loyalty platforms for Web3 video games, alternate aggregation for institutional buying and selling, liquid markets for revenue alternatives and an ecosystem for the peer-to-peer financial system of generative synthetic intelligence.

One of many key themes of this second sequence is the intersection of synthetic intelligence (AI) and blockchain expertise.. Cronos Labs has partnered with Amazon Internet Providers (AWS) to supply AI-related workshops and mentoring periods to collaborating tasks. As well as, the chosen tasks may have entry to AWS sources, together with AI and machine studying providers. CertiK, Hacken and Covalent are among the many notable additions as companions on this part.

On the finish of the 12-week program, collaborating tasks may have a platform to current their ideas to investing companions at a Demo Day scheduled for the tip of July 2023. This occasion will give members the chance to acquire further seed funding and get backing from buyers comparable to NGC, Basic Labs, Spartan Group and Delphi Digital.’s blockchain platform Cronos unveiled its $100M accelerator program in June to help early-stage Web3 and decentralized finance tasks. This system was supported by notable corporations together with Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and DoraHacks.

Regardless of the lengthy crypto winter, there was an increase in blockchain accelerator packages targeted on Web3 improvement. On Could 22, The Open Community (TON), a Layer 1 blockchain developed by Telegram, unveiled the “TON Accelerator Program,” a $25 million fund to help tasks inside its ecosystem. This system will present investments of between USD 50,000 and USD 250,000 per undertaking, together with priceless partnerships and mentorship from the TON staff.

Clarification: The data and/or opinions expressed on this article don’t essentially symbolize the views or editorial line of BoxNews. The data offered right here shouldn’t be taken as monetary recommendation or funding suggestion. All funding and business motion contain dangers and it’s the accountability of every particular person to do their due analysis earlier than investing resolution.

Investments in crypto property will not be regulated. They is probably not appropriate for retail buyers and your complete quantity invested could also be misplaced. The providers or merchandise provided will not be directed or accessible to buyers in Spain.