Crypto.com’s Cronos Launches $100 Million Web3-Focused Accelerator

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Crypto.com’s Cronos Launches $100M Web3-Focused Accelerator

Blockchain Cronos has launched a $100 million backed accelerator program to help crypto projects in their pre-seed and seed phases

By Shashank Bhardwaj


Image: Shutterstock

Ethereum Virtual Machine (EVM)-enabled layer-1 blockchain Cronos, which is backed by leading crypto exchange Crypto.com, has announced an acceleration program focused on the web3, metaverse space, and Defi. The Cronos Accelerator Program is a 10-week initiative with a $100 million war chest.


The program will focus on crypto projects and startups that are in their seed and pre-seed stages; and are looking for mentorship, growth and funding. The announcement also stated that shortlisted projects would be matched with suitable mentors with relevant experience and in accordance with the requirements of the project. The program will continue for 10 weeks and aims to nurture developers with incentives to further develop and innovate the Web3, DeFi, and metaverse space.

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Aspiring projects would have seed investment opportunities between $100,000 and $300,000 from the accelerator. Projects will also have the opportunity to benefit from additional grants. Apart from mentoring, projects and startups will also be able to be part of the Crypto.com ecosystem. They will be able to integrate with Crypto.com’s Defi wallet, crypto exchange, and non-fungible token market.

To top it off, the acceleration program will also host weekly workshops and include experts on various topics invited from outside. These workshops will cover various topics and themes related to the development of decentralized protocols. These workshops would be led by Cronos’ Web3 startup accelerator arm, Cronos Labs.

Ken Timsit, Managing Director of Cronos Chain and Cronos Lab Accelerator, said, “Through Cronos Accelerator, we want to enhance the potential of projects that sincerely want to contribute to the growth of the ecosystem by providing support in almost all areas of their operations. In the current climate, it’s more important than ever to put your head down and start building aggressively. »

The accelerator program has a number of top investment partners including Mechanism Capital, IOSG Ventures, OK Blockchain Capital, Spartan Labs, AP Capital, Dorahacks, Altcoin Buzz, and more. Cronos plans to involve more partners in the future. Timsit added: “In the current climate, it’s more important than ever to put your head down and start building aggressively.”

The writer is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash



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Crypto.com’s Cronos Launches $100 Million Web3-Focused Accelerator


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