May 27, 2023
Cronos Labs Launches $100M Accelerator Program for Early-Stage Crypto Projects
Cronos Labs, a blockchain startup accelerator, has just announced the launch of its second cohort for the Cronos Accelerator Program, with a significant $100 million investment. The program will provide mentorship and funding opportunities to early-stage crypto projects, with eight projects selected for this cohort.
The eight chosen projects – Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network and CorgiAI – have each received an upfront seed funding of $30,000 to begin the 12-week program. The projects are diverse, covering areas such as Web3 game development, decentralized social networking, pet-focused video sharing, smart contract wallet integration, loyalty platforms for Web3 gaming, exchange aggregation for institutional trading, and liquid marketplaces for yield-earning opportunities.
This cohort is particularly focused on the intersection of artificial intelligence (AI) and blockchain technology. To this end, Cronos Labs has partnered with Amazon Web Services (AWS) to offer AI-related workshops and mentorship sessions to the participating projects. Moreover, the projects will have access to AWS’ resources, including machine learning and AI services. In addition, Cronos Labs has partnered with CertiK, Hacken and Covalent to provide further support.
At the conclusion of the 12-week program, the participating projects will have the chance to present their concepts to investors at a Demo Day scheduled for late July 2023. This event will provide the projects with the opportunity to secure additional seed funding, as well as garner backing from investors such as NGC, Fundamental Labs, Spartan Group and Delphi Digital.
The Cronos Accelerator Program is just the latest in a growing trend of blockchain accelerator programs focusing on Web3 development. In May, The Open Network (TON) – a layer-1 blockchain developed by Telegram – unveiled the “TON Accelerator Program,” a fund worth $25 million to support projects within its ecosystem. This program will provide investments ranging from $50,000 to $250,000 per project, in addition to valuable partnerships and mentorship from TON’s team.
Cronos Labs’ $100 million accelerator program is a major step forward for the Web3 space, as it provides early-stage projects with the resources and partnerships they need to develop their concepts and take their projects to the next level. With the rise of NFTs, crypto and Web3 technologies, the Cronos Accelerator Program is a great opportunity for projects to get the support they need to promote their NFTs and take advantage of the growing NFT marketing opportunities.
The projects chosen for the Cronos Accelerator Program will have the chance to tap into the potential of NFT marketing, as well as explore other avenues such as Twitter NFT marketing and working with a NFT marketing agency or web3 agency to help them sell their NFTs. With the help of the Cronos Accelerator Program, these projects will have the chance to reach new heights and make a real impact in the Web3 space.
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