Crypto.com's Cronos launches $100M accelerator for DeFi and Web3

Cronos, a blockchain ecosystem constructed by main crypto change 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 probably be matched with appropriate mentors.

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Among 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 essential than ever to place our heads down and begin constructing aggressively.”

Timsit goals to reinforce the potential of initiatives by offering end-to-end assist throughout the undertaking’s operations. As a part of this initiative, Cronos’ Web3 startup accelerator arm Cronos Labs conducts weekly workshops that cowl numerous elements of constructing crypto initiatives.

Aspiring initiatives get the chance to acquire between $100,000–$300,000 seed funding along with having the choice for extra grant funding. Along with mentorship and different advertising and marketing initiatives, initiatives will be capable to combine into Crypto.com’s ecosystem together with a DeFi pockets, crypto change and nonfungible token market.

Associated: Philippines to discover blockchain use instances, launches coaching program

The Division of Science and Know-how (DOST) within the Philippines not too long ago launched a coaching program for researchers to examine the feasibility of blockchain know-how throughout the healthcare, monetary assist and emergency assist industries.

Enrico Paringit, a DOST official, highlighted the division’s intent to “construct non-cryptocurrency purposes” and concurrently produce blockchain improvement specialists for ramping up the federal government’s in-house initiatives.

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