Crypto.com's Cronos launches Web3-focused $100 mn accelerator
The Cronos blockchain has launched an accelerator program backed by $100 million to help crypto projects in their pre-seed and seed stages
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The EVM (Ethereum Virtual Machine) compatible layer-1 blockchain Cronos, which is backed by the major crypto exchange Crypto.com, has announced an accelerator program focused on web3, metaverse space, and Defi. The Cronos accelerator program is a 10-week-long initiative with a $100 million war chest.
The program will focus on those crypto projects and startups which are in their seed and pre-seed stages; and are seeking mentorship, growth, and funding. The announcement also said that the shortlisted projects would be matched with suitable mentors with relevant experience and as per the project’s requirements. The program will continue for 10 weeks and aims to encourage developers with incentives to develop further and innovate the Web3, DeFi, and the metaverse space.
The aspiring projects would have seed investment opportunities between $100,000 to $300,000 from the accelerator. The projects will also have the option for additional grant funding. Besides the mentorship, the projects and startups will also be able to become a part of Crypto.com’s ecosystem. They will be able to integrate into Crypto.com’s Defi wallet, crypto exchange, and non-fungible token marketplace.
To top this up, the accelerator program will also host weekly workshops and include experts on various subject matters invited from outside. These workshops will focus on various subjects and topics concerned with developing decentralised protocols. These workshops would be conducted by Cronos’ Web3 startup accelerator arm Cronos Labs.
