The surge in Bitcoin to the $40,000 threshold has propelled the overall cryptocurrency market capitalization to $1 trillion. In response to this milestone, Web3, a company entrenched in the blockchain sphere, has initiated a grants program to foster the expansion of the blockchain ecosystem.
On December 6, the Worldcoin Foundation, responsible for the widely recognized Worldcoin project endorsed by OpenAI CEO Sam Altman, unveiled the “Wave0” program, earmarking $5 million for community grants. These grants will be disbursed in stablecoins like Worldcoin (WLD) tokens or USDC and will be directed towards diverse projects including community initiatives, event sponsorships, and hackathons. Apart from this, the foundation also has other avenues to grant larger project funds.
In a bid to bolster the development of Web3 infrastructure, multiple entities, including layer 2 protocol Coinweb, have initiated grants. Coinweb has introduced a $10 million grant to bolster developers in constructing Web3 services and decentralized applications (DApps) on its infrastructure platform. The grant sizes could range up to $300,000 based on the nature and stage of the DApp's development. The focus areas encompass decentralized finance, decentralized exchanges, wallets, gaming, non-fungible tokens, and social finance.
Simultaneously, the Fantom Foundation has rolled out an accelerator program, allocating 1 million Fantoms (worth over $300,000) to aid five projects. As mentioned in their press release, the program will provide guidance from key leadership figures, including director Andre Cronje. Moreover, in recent developments, the Arbitrum Communities expanded their grant program budget, adding an additional $23 million to facilitate all grant applicants. Consequently, the total budget for the Arbitrum grant program now exceeds $70 million, supporting a total of 56 projects.
