In the midst of renewed enthusiasm for cryptocurrency initiatives, certain Web3 startups are seeking advantages through accelerator programs.
Accelerator programs offer founders mentorship and guidance in return for early equity. Y Combinator, based in San Francisco, is renowned, boasting several crypto firms like Coinbase and OpenSea among its alumni.
This week, a16z, a leading tech VC fund, revealed the lineup for its spring 2024 crypto startup accelerator. The selected 25 startups will undergo a ten-week mentorship program in London led by the a16z crypto team.
Operating partner Jason Rosenthal shared a list featuring projects spanning Farcaster infrastructure, decentralized food delivery, and zero-knowledge passport authentication. Startups in a16z crypto’s accelerator get $500K from a16z for 7% equity. Alumni include Flashbots and Phantom.
Earlier this week, the organization behind the layer-1 blockchain Avalanche introduced the first group of startups in its exclusive accelerator, Codebase. Reserved for startups developing on Avalanche, this accelerator will see investments ranging from $500,000 to $1 million per startup by Colony Lab, a decentralized venture capital fund focusing on AVAX.
Helika, a Web3 gaming infrastructure company, revealed its collaboration with Pantera, Spartan Capital, Sfermion, and other venture capital firms to allocate up to $50 million to startups participating in its newly established gaming accelerator.
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