- The crypto market is showing signs of recovery, leading Web3 companies to roll out grant programs to support ecosystem growth. Worldcoin announced a $5 million community grant, Coinweb unveiled a $10 million developer grant, and Fantom launched a $1 million accelerator.
- Arbitrum expanded its grant program budget to over $70 million to fund all applicants, bringing their total funded projects to 56.
- The Fantom Foundation launched an accelerator and allocated $1 million in FTM tokens to support five projects.
As the crypto market sees signs of recovery, Web3 companies are rolling out grants to support ecosystem growth.
The Worldcoin Foundation’s $5 Million Community Grant
The organization behind Worldcoin recently announced a $5 million community grant program called Wave0. The grants will be given out in Worldcoin tokens or stablecoins like USDC. The program will fund community organizers, events, hackathons, and larger projects through different grant tracks.
Coinweb’s $10 Million Developer Grant
The layer-2 protocol Coinweb unveiled a $10 million grant to aid developers building Web3 services and DApps on its platform. Grants up to $300,000 will be awarded based on project type and stage. Areas of focus include DeFi, DEXs, wallets, gaming, NFTs, and social finance.
Fantom Foundation’s Accelerator and $1 Million Grant
The Fantom Foundation launched an accelerator and allocated $1 million in FTM tokens to support five projects. The program includes mentorship from Fantom’s leadership.
Web3 Firms on the Rise Again
The recent announcements from prominent Web3 firms indicate a significant resurgence in the crypto and blockchain ecosystem. The rollout of substantial grant programs by organizations like the Worldcoin Foundation, Coinweb, the Fantom Foundation, and Arbitrum showcases a renewed confidence in the potential of Web3 technologies. These grants, aimed at community building, developer support, and project acceleration, are not just financial injections but also represent a strategic investment in the future of decentralized applications and services.
With the crypto market showing signs of recovery, these initiatives signal a strong belief in the long-term viability of Web3 projects. The emphasis on diverse areas such as DeFi, gaming, NFTs, and social finance reflects the wide-ranging impact and application of blockchain technology.