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

Cronos, a blockchain ecosystem constructed by main crypto alternate Crypto.com, introduced the launch of an accelerator program to fast-track developments throughout the decentralized finance (DeFi), Web3 and Metaverse house amongst others. 

Driving the initiative, the Cronos Accelerator Program is backed by $100 million to assist crypto tasks in seed and pre-seed levels searching for mentorship, funding and progress. Based on the announcement, tasks shortlisted for the accelerator program shall be matched with suitable mentors.

Among the distinguished funding companions backing the Cronos Accelerator Program embrace 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 tasks by offering end-to-end help throughout the challenge’s operations. As a part of this initiative, Cronos’ Web3 startup accelerator arm Cronos Labs conducts weekly workshops that cowl numerous facets of constructing crypto tasks.

Aspiring tasks get the chance to obtain 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, tasks will be capable of combine into Crypto.com’s ecosystem together with a DeFi pockets, crypto alternate and nonfungible token market.

Associated: Philippines to explore blockchain use cases, launches training program

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

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