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Cronos Labs launches 2nd associate of $100M Web3 accelerator

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Blockchain start-up accelerator Cronos Labs has revealed the launch of its 2nd mate for the Cronos Accelerator Program. The program, backed by a considerable $100 million financialinvestment, intends to assistance early-stage crypto tasks by offering mentorship and financing chances. 

According to an statement sentout to Cointelegraph, Cronos Labs handpicked 8 jobs to getinvolved in their accelerator program. Each of the chosen jobs, particularly Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network, and CorgiAi, got inadvance seed financing of $30,000 to commence their 12-week program.

The picked jobs cover a varied variety of locations, consistingof Web3 videogame advancement, decentralized social networking, pet-focused video sharing, smart-contract wallet combination, commitment platforms for Web3 videogaming, exchange aggregation for institutional trading, liquid markets for yield-earning chances, and an environment for the peer-to-peer economy of generative AI.

One of the secret styles of this 2nd accomplice is the crossway of synthetic intelligence (AI) and blockchain innovation. Cronos Labs has partnered with Amazon Web Services (AWS) to deal AI-related workshops and mentorship sessions to the takingpart tasks. Additionally, the picked tasks will have gainaccessto to AWS’ resources, consistingof device knowing and AI services. CertiK, Hacken, and Covalent are amongst the notable additions as partners for this friend.

At the conclusion of the 12-week program, the takingpart tasks will be offered the platform to present their ideas to financialinvestment partners at a Demo Day setup for late July2023 This occasion will offer individuals the chance to safeandsecure extra seed financing and amass support from financiers consistingof NGC, Fundamental Labs, Spartan Group, and Delphi Digital.

Related: Solana incorporates AI into blockchain, raises approves fund to $10M

Cronos, the blockchain platform by Crypto.com, presented its $100 million accelerator program in June to assistance early-stage DeFi and Web3 tasks. The program was supported by significant business consistingof Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.

Despite a long crypto winterseason, there hasactually been a increase in blockchain accelerator programs focusing on Web3 advancement. On May 22, The Open Network (TON), a layer-1 blockchain established by Telegram, revealed the “TON Accelerator Program,” a fund worth $25 million to assistance jobs within its environment. The program will offer financialinvestments varying from $50,000 to $250,000 per job, along with important collaborations and mentorship from TON’s group.

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