BlockChain Startup Accelerator Cronos Labs Has Annound the Launch of its Second Cohort of the Cronos Accelerator Program. MENT, The Program Aims to Support Early-Stage Crypto Projects by Prove Mentoring and Funding Opportunities.
According to an announcement sent to Cointelegraph, Cronos Labs handpicked eight projects to participate in their accelerator program. Each of the selected projects namely Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network, and CorgiAI received $3 0,000 in upfront seed funding to kickstart the 12-week program. Selected projects cover multiple areas including Web3 game development, decentralized social networking, pet-centric video sharing, smart contract wallet integration, loyalty platform for Web3 games, exchange aggregation for institutional deals, flow of revenue opportunities Marketplace and ecosystem that generates an artificial intelligence peer-to-peer economy.
One of the key themes of the second cluster is the Internet of Artificial Intelligence (AI) and BlockChain Technology. Cronos Labs Has PARTNERED WITH AMA AMA Zon Web Services (AWS) to Prove Participating Projects with Ai-Related Workshops and Mentoring Sessions. Additivelyly, SelectEd Projects will have access to AWS resources, including machine learning and artificial intelligence services. CertiK, Hacken and Covalent are notable partners in this cohort.
At the end of the 12-week program, participating projects will be given a platform to present their concepts to investment partners at a Demo Day scheduled for late July 2023. The event will give participants the opportunity to receive additional seed funding and receive sup port from Investors such as NGC, Fundamental Labs, Spartan Group and Delphi Digital. Crypto.com's blockchain platform Cronos launched a $100 million accelerator program in June to support early-stage decentralized finance and Web3 projects. The initiative is backed by prominent firms inc Luding Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and DoraHacks.
Despite the long crypto winter, there has been an increase in blockchain accelerator programs focused on Web3 development. On May 22, the layer-1 blockchain Open Network (TON) developed by Telegram launched the “TON Accelerator Program,” a $25 million fund to support projects within its ecosystem. The program will provide investments of $50,000 to $250,000 per project, as well as valuable partnerships and mentorship from the TON team.
