Web3 firms to support ecosystem development through grants amid market uptick

As Bitcoin (BTC) soared past the $40,000 mark and brought the full crypto marketplace capitalization to $1 trillion, Web3 firms person started to rotation retired grants to enactment the improvement of the blockchain ecosystem. 

On Dec. 6, the Worldcoin Foundation, the enactment down the fashionable Worldcoin (WLD) task backed by OpenAI CEO Sam Altman, announced a $5 cardinal assemblage grants programme dubbed “Wave0.” The grants volition beryllium disbursed done WLD tokens oregon stablecoins similar USD Coin (USDC).

The assistance programme focuses connected assorted projects specified arsenic assemblage organizers, lawsuit sponsorships and hackathons. In addition, the enactment besides has different assistance tracks that volition absorption connected backing bigger projects. 

The Worldcoin Foundation has launched its Community Grants Program.https://t.co/bWb3jdl69V

— Worldcoin (@worldcoin) December 6, 2023

Apart from Worldcoin, different companies are besides starting to merchandise grants to enactment the developments of the Web3 infrastructure. In a property merchandise sent to Cointelegraph, layer-2 protocol Coinweb announced a $10 cardinal assistance to enactment developers who volition physique Web3 services and decentralized applications (DApps) connected its infrastructure platform. 

According to the announcement, the grants whitethorn spell up to $300,000 depending connected the types of DApps and the stages of development. The protocol besides highlighted that the assistance program’s absorption includes decentralized concern (DeFi), decentralized exchanges (DEXs), wallets, gaming, nonfungible tokens (NFTs) and societal finance.

Meanwhile, the Fantom Foundation has besides launched an accelerator programme and allocated 1 cardinal Fantom (FTM), worthy implicit $300,000, to enactment 5 projects. In a property merchandise sent to Cointelegraph, the protocol highlighted that the programme volition see mentorship from its leadership, including its manager Andre Cronje. 

Related: Web3 gaming trends successful 2024: Execs measurement successful connected blockchain gaming future

Earlier this month, the Arbitrum assemblage expanded its assistance programme budget, passing an other $23 cardinal to money each assistance applicants. The caller improvement puts the Arbitrum assistance programme fund astatine implicit $70 million, supporting 56 projects.

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