The Second Batch Of The $100 Million Web3 Accelerator Launched By Cronos Labs

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Cronos Labs

The second batch of the CAP has begun, according to the blockchain business accelerator Cronos Labs. The initiative intends to promote early-stage cryptocurrency startups by offering mentorship and financial possibilities. It is supported by a sizeable $100 million investment. Eight ideas were chosen by hand to take part in Cronos Labs’ accelerator program, according to a statement provided in recent reports. Omnus, Furrend, DeMe, Solace, Eisen Finance, Sakaba, CorgiAI, and Earn Network were among the ventures chosen. Each got an upfront seed investment of $30K to start a three-month program. The selected projects include a wide range of topics, such as Web3 game progress, decentralized networking, pet-centered clip sharing, integration of smart contract wallets, loyalty systems for gaming, and more. 

Find Out More Regarding The Themes In The Second Round Of Cohorts By Cronos Labs

The fusion of Cronos Labs’ blockchain technology with artificial intelligence (AI) is the main theme of this second round of cohorts. For the benefit of the participating projects, Cronos Labs and AWS have joined to provide training and mentorship discussions on AI. The projects that are selected will also get access to AWS’s capabilities, such as its AI and machine learning services. Among the notable new collaborators for this are Hacken, CertiK, and Covalent. The projects that would be participating would be provided a stage to demonstrate their plans to sponsorers at a Demo Day slated for the end of July this year at the end of the 12-week program. Participants will have the chance to get extra seed money and support from investors including Fundamental Labs, NGC, and Spartan Group at this event.

To encourage early-stage segregated finance as well as Web3 startups, Crypto.com’s blockchain platform Cronos Labs launched its $100M program in June. Well-known businesses include Spartan Labs, Mechanism Capital, IOSG Ventures, AP Capital, Blockchain Capital, as well as, Altcoin Buzz.