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Web3 companies to help ecosystem growth via grants amid market uptick

07 Dec 2023
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As Bitcoin (BTC) soared past the $40,000 mark and introduced the full crypto market capitalization to $1 trillion, Web3 companies have began to roll out grants to help the event of the blockchain ecosystem. 

On Dec. 6, the Worldcoin Basis, the group behind the favored Worldcoin (WLD) venture backed by OpenAI CEO Sam Altman, introduced a $5 million neighborhood grants program dubbed “Wave0.” The grants can be disbursed via WLD tokens or stablecoins like USD Coin (USDC).

The grant program focuses on varied initiatives reminiscent of neighborhood organizers, occasion sponsorships and hackathons. As well as, the group additionally has different grant tracks that can give attention to funding larger initiatives. 

Aside from Worldcoin, different corporations are additionally beginning to launch grants to help the developments of the Web3 infrastructure. In a press launch despatched to Cointelegraph, layer-2 protocol Coinweb introduced a $10 million grant to help builders who will construct Web3 providers and decentralized applications (DApps) on its infrastructure platform. 

In line with the announcement, the grants might go as much as $300,000 relying on the kinds of DApps and the phases of growth. The protocol additionally highlighted that the grant program’s focus contains decentralized finance (DeFi), decentralized exchanges (DEXs), wallets, gaming, nonfungible tokens (NFTs) and social finance.

In the meantime, the Fantom Basis has additionally launched an accelerator program and allotted 1 million Fantom (FTM), price over $300,000, to help 5 initiatives. In a press launch despatched to Cointelegraph, the protocol highlighted that this system will embrace mentorship from its management, together with its director Andre Cronje. 

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Earlier this month, the Arbitrum neighborhood expanded its grant program budget, passing an additional $23 million to fund all grant candidates. The brand new growth places the Arbitrum grant program finances at over $70 million, supporting 56 initiatives.

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