Cronos, a blockchain ecosystem built by major crypto exchange Crypto.com, announced the launch of the accelerator program to fast-track advancements over the decentralized finance (DeFi), Web3 and Metaverse space, amongst others.
Driving the initiative, the Cronos Accelerator Program is supported by $100 million to assist crypto projects within the seed and pre-seed stages seeking mentorship, funding and growth. Based on the announcement, projects shortlisted for that accelerator program is going to be matched with compatible mentors.
A few of the prominent investment partners backing the Cronos Accelerator Program include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz and Dorahacks. Cronos intends to onboard other partners later on. Supplying further clearness in to the program, Cronos md Ken Timsit added:
“In the present climate, it’s more essential than ever before to place our heads lower and begin building strongly.”
Timsit aims to boost the potential for projects by supplying finish-to-finish support over the project’s operations. Included in this initiative, Cronos’ Web3 startup accelerator arm Cronos Labs conducts weekly workshops which cover various facets of building crypto projects.
Ambitious projects obtain the chance to obtain between $100,000–$300,000 seed investment additionally to getting the choice for further grant funding. Additionally to mentorship along with other marketing initiatives, projects can integrate into Crypto.com’s ecosystem together with a DeFi wallet, crypto exchange and nonfungible token marketplace.
Related: Philippines to understand more about blockchain use cases, launches training course
The Department of Science (DOST) within the Philippines lately launched an exercise program for researchers to determine the practicality of blockchain technology inside the healthcare, financial support and emergency aid industries.
Enrico Paringit, a DOST official, highlighted the department’s intent to “build non-cryptocurrency applications” and concurrently produce blockchain development specialists for ramping in the government’s in-house initiatives.
