Blockchain startup accelerator Kronos Labs has introduced the launch of its second cohort for the Kronos Accelerator Program. Backed by a major $100 million funding, this system goals to assist early-stage crypto initiatives by offering mentorship and funding alternatives.
Based on an announcement despatched to Cointelegraph, Cronos Labs has chosen eight initiatives to take part of their accelerator program. Every of the chosen initiatives — comparable to Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Community and CorgiAI — obtained $30,000 in upfront seed funding to launch the 12-week program.
The chosen initiatives cowl quite a lot of areas, together with Web3 recreation growth, decentralized social networking, pet-centric video sharing, sensible contract pockets integration, loyalty platforms for Web3 gaming, trade aggregation for institutional buying and selling, liquid marketplaces for yield-earning alternatives, and extra. An ecosystem for a peer-to-peer economic system of generative synthetic intelligence.
One of many essential themes of this second set is the intersection of synthetic intelligence (AI) and blockchain expertise. Kronos Labs has partnered with Amazon Internet Providers (AWS) to supply AI-related workshops and mentorship periods to taking part initiatives. Moreover, chosen initiatives could have entry to AWS’s sources, together with machine studying and AI providers. CertiK, Hacken and Covalent are among the many notable additions as companions to the group.
On the conclusion of the 12-week program, taking part initiatives will probably be given a platform to current their ideas to funding companions at a Demo Day scheduled for late July 2023. The occasion will give individuals the chance to safe further seed funding and acquire backing. From buyers like NGC, Basic Labs, Spartan Group and Delphi Digital.
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Cronos, a blockchain platform by Crypto.com, launched its $100 million accelerator program in June to assist early-stage decentralized finance and Web3 initiatives. This system was backed by notable corporations together with Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahex.
Regardless of the lengthy crypto winter, there was a rise in blockchain accelerator applications specializing in Web3 growth. On Might 22, The Open Community (TON), a layer-1 blockchain developed by Telegram, unveiled the “TON Accelerator Program,” a $25 million fund to assist initiatives in its ecosystem. This system will present investments starting from $50,000 to $250,000. Per venture, with worthwhile participation and steerage from TON’s workforce.
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