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HomeFinanceCronos Labs Broadcasts Third Cohort of $100M-backed Web3 Accelerator Program

Cronos Labs Broadcasts Third Cohort of $100M-backed Web3 Accelerator Program

Cronos Labs, a blockchain enterprise accelerator centered on advancing DeFi, GameFi, and the Cronos ecosystem, at this time revealed the third cohort of its flagship Cronos Accelerator Program, which is backed by whopping $100 million. The initiative, which was first launched in 2022, goals to help probably the most promising early-stage cryptocurrency tasks which might be primarily based on Cronos by giving them entry to finance, networking, and mentoring. By doing this, Cronos Labs hopes to advertise creativity and speed up improvement each contained in the Cronos ecosystem and within the broader Web3 sector.

Functions for the Cronos Accelerator Program have elevated by 57% within the Third Cohort in comparison with the earlier cohort, demonstrating this system’s huge recognition. After narrowing down the pool of candidates Cronos Labs has chosen 5 very bold ideas to be part of its subsequent accelerator program. The twelve-week program will start on January 22, 2024, and the 5 tasks—whose choice was primarily based on the standard of their groups and the modern nature of their expertise—will every get USD $30,000 in upfront seed financing.

The 5 initiatives are:

  • LILLIUS – Gamified Sports activities Coaching Developed Via AI.
  • Innerworks – AI & ZK for Digital Footprints.
  • Reax – Decentralized artificial belongings protocol.
  • Securd – Liquidity backed Lending.
  • Newwit – AI-powered Predict-to-Earn GameFi.

Boosting Innovation Facilitated by AI

The Cronos Accelerator Program’s third cohort is concentrated on the nexus between blockchain expertise and synthetic intelligence, and the way these potent technolgies may work collectively to hasten the adoption of Web3. Initiatives within the third cohort will work with Cronos Labs to develop a curriculum that revolves on huge language fashions. As well as, AWS and Google Cloud are concerned within the initiative, offering mentoring, AI seminars, and cloud credit.

Furthermore, tasks have direct entry to greater than 50 companions and 100 mentors within the Cronos ecosystem, which incorporates specialists and coaching classes from Protocol Labs, GSR, Certik, Dora Hacks, Hacken, and different organizations. All through this system’s lifetime, ongoing help within the areas of expertise, advertising and marketing, partnerships, product improvement, and funding might be offered.

Ken Timsit, Head of Cronos Labs, mentioned:

“The overwhelming response we’ve needed to the third cohort of the Cronos Accelerator Program is a testomony to the rising confidence and enthusiasm that Web3 is the place the longer term lies. With such a major enhance within the variety of candidates for this system, it’s clear that builders from all backgrounds are extra enthusiastic than ever about constructing newer, extra superior use circumstances for Web3 functions. This system will pave the best way for the following era of innovators within the Cronos ecosystem, serving to to carry Web3 into the mainstream the place it belongs.”

Charlotte Kapoor, Head of Innovation Applications at Cronos Labs, added:

“The third cohort of the Cronos Accelerator Program sits on the forefront of two of probably the most thrilling expertise developments of our instances — generative AI and blockchain — and can speed up their integration to ship cutting-edge options for customers and companies alike. The intersection of generative AI and blockchain will result in transformative new functions, and this system will empower the chosen startups with the funding, assets, instruments and connections wanted to energise progress inside the Cronos ecosystem.”

The nominated tasks will current their work on a Demo Day within the second week of April 2024, which is able to happen after the Cronos Accelerator Program concludes. Every initiative will get the prospect to current their concepts to outstanding program funding companions with a purpose to get hold of additional seed financing. NGC, Basic Labs, Republic, Animoca, and Delphi Digital are among the many traders and mentors concerned.

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