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- 1 On May 15, the selected projects will receive a 12-week program after giving seed funding of $30,000.
- 2 The program is supported by a $100 million investment which is aimed to support the crypto projects.
This Web3 accelerator program will give mentorship and funding opportunities. In this way, it supports the early stages of crypto funding. It will cover a variety of areas, including Web3 games, smart contract wallet integration, a loyalty platform for Web3 gaming, and an ecosystem for the peer-to-peer economy for generative artificial intelligence. It will mainly focus on decentralized social networking.
The selected eight projects, Omnus, Eisen Finance, DeMe, Solace, Furrend, Earn Network, and CorgiAI, received seed funding along with a 12-week program. Their main aim is to integrate open artificial intelligence with blockchain.
The Program Will Enhance Security
Using blockchain technology with machine learning will provide security and decentralized identity systems, making hacking nearly impossible.
This, in a way, reduces fraud and theft and helps increase the crypto industry. Other benefits include automation of the manual process, increase in speed and efficiency, and making real-time decisions.
Cornos Lab, a blockchain startup, focuses on decentralized finance and blockchain. They launched the second Cohort, the Cornos Accelerator Program, with the key aim of inheriting the combination of AI and blockchain.
Cornos Partners With Amazon Web Services
Enhancing the advancement of Web3, Cornos partnered with Amazon Web Services (AWS). The partnership is based on providing A.I.-related workshops and membership sessions. The selected eight projects will have access to AWS and machine learning.
At the end of the 12-week program, the participant projects will get a platform to present their concept to investment partners at a Demo day. The day is scheduled for late July 2023. It gives a chance to participants to secure additional seed funding.
They can get banking services from investors like Delphi Digital, Fundamental Labs, and Spartan Group.
Cornos received the $100 Million accelerator program in June to support the Web3 projects. After a long crypto recession, there is a rise in blockchain accelerator programs. These programs are focused mainly on Web3 development.
A related program developed by Telegram, known as TON Accelerator Program, raised a fund worth $25 million to support the same projects. This program will provide investments from $50,000 to $250,000 per project. Likely, they will also provide valuable partnership and mentorship.
The new development in the web3 platform is combining it with decentralized platforms on blockchain. Any single entity will not centrally control it. It will thus create an open, transparent, and secure transaction system.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
