Cronos Labs is reopening its Cronos Accelerator Program, with $100 million in backing, to help early-stage crypto initiatives.
This system goals to nurture startups which are shaping the way forward for Web3, particularly these growing sensible use circumstances for dApps.
Cronos is an Ethereum-compatible layer 1 blockchain community constructed on the Cosmos SDK. It focuses on making Web3 adoption straightforward and safe, notably in DeFi, NFTs, and GameFi with a world group of 80 million customers.
The chain makes use of the Cronos ($CRO) as its native token which can be the foreign money for paying transaction charges throughout its ecosystem.
It receives help from Cronos Labs, the start-up accelerator of Cronos chain, Crypto.com, Crypto.org and over 500 Web3 improvement platforms.
12-week period
Particulars of the startup program point out that it’ll have a period of 12 weeks and will likely be a distant program that provides mentorship, grasp lessons, advertising, monetary help, and introductions to strategic companions.
In response to Cronos, this system is aimed toward initiatives that mix AI and crypto and the registration began on September 4, 2023, following the Korea Blockchain Week 2023.
“Particularly, it’s designed to draw initiatives using AI to supply unparalleled pace and effectivity that may assist take merchandise to market,” Cronos mentioned.
“Cronos Accelerator Program can be for groups growing decentralized infrastructure with the potential to democratize AI for broader accessibility and neutrality.”
Why this system is essential
Ken Timsit, Managing Director at Cronos, famous the significance of supporting revolutionary concepts, stating that the Cronos Accelerator Program goals to nurture excellent startups with the potential to reshape the interplay between AI and decentralized protocols.
Charlotte Kapoor, Head of Innovation Applications at Cronos, acknowledges the prime quality and amount of candidates in earlier applications. She invitations builders with authentic ideas and a drive to show them into sensible options to use.
This system seeks novel proposals that tackle actual issues whereas showcasing artistic makes use of of AI, blockchain, and decentralized know-how.
On the finish of this system, all qualifying groups are anticipated to current a demo of their mission which ought to result in fund elevating.
A part of the help for all winners may even come from Google Cloud, Amazon Internet Companies (AWS), PeckShield, and Certik.
Additionally, all profitable groups will transfer on to the following stage in Q1 2024 the place they are going to be mentored for 3 months for the ultimate launch of their mission into the market.
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