Cronos Labs Kicks Off Third Cohort of Web3 Accelerator Program, Offering World’s First Mentorship at Intersection of AI and Blockchain
London, England, January 16th, 2024, Chainwire
Cronos Labs, a blockchain startup accelerator focusing on boosting DeFi, GameFi and the development of the Cronos ecosystem, today announced the third cohort of its flagship, US$100M-backed Cronos Accelerator Program. First launched in 2022, the program targets the most promising early-stage crypto projects building on Cronos, and provides them with networking, mentorship and funding opportunities. In this way, Cronos Labs aims to encourage innovation and drive more rapid growth within the Cronos ecosystem and the wider Web3 industry.
The Cronos Accelerator Program has proven to be incredibly popular, with the Third Cohort seeing a 57% increase in applications in comparison to its prior cohort. Of those applicants, Cronos Labs ultimately whittled down the list to five extremely ambitious projects that have been selected to participate in the next iteration of its accelerator program. The five projects, which were chosen based on the innovative nature of their technology and the strength of their teams, will each receive USD $30,000 in upfront seed funding as they kick off the twelve-week program on 22nd January 2024.
The five projects are:
- LILLIUS – Gamified Sports Training Developed Through AI.
- Innerworks – AI & ZK for Digital Footprints.
- Reax – Decentralized synthetic assets protocol.
- Securd – Liquidity backed Lending.
- Newwit – AI-powered Predict-to-Earn GameFi.
Fostering AI-enabled innovation
The third cohort of the Cronos Accelerator Program is focused on the intersection of artificial intelligence and blockchain and how these powerful technologies can be combined to accelerate Web3 adoption. Collaborating with Cronos Labs, projects in the third cohort will be provided with a curriculum centered around large language models. AWS and Google Cloud are also participating in the program, offering cloud credits, AI workshops and mentorship.
In addition, projects benefit from direct access to 50+ partners and 100+ mentors within the Cronos ecosystem, including experts and workshops from Protocol Labs, GSR, Certik, Dora Hacks, Hacken and more. Ongoing support in tech, marketing, partnerships, product development, and investment will be extended throughout the duration of the program.
Ken Timsit, Head of Cronos Labs, said: “The overwhelming response we’ve had to the third cohort of the Cronos Accelerator Program is a testament to the growing confidence and enthusiasm that Web3 is where the future lies. With such a significant increase in the number of applicants for the program, it’s clear that developers from all backgrounds are more enthusiastic than ever about building newer, more advanced use cases for Web3 applications. The program will pave the way for the next generation of innovators in the Cronos ecosystem, helping to bring Web3 into the mainstream where it belongs.”
Charlotte Kapoor, Head of Innovation Programs at Cronos Labs, added: “The third cohort of the Cronos Accelerator Program sits at the forefront of two of the most exciting technology trends of our times — generative AI and blockchain — and will accelerate their integration to deliver cutting-edge solutions for consumers and businesses alike. The intersection of generative AI and blockchain will lead to transformative new applications, and the program will empower the chosen startups with the funding, resources, tools and connections needed to energize growth within the Cronos ecosystem.”
Following the culmination of the Cronos Accelerator Program, the shortlisted projects will participate in a Demo Day In the second week of April 2024, where they will showcase their projects. It will provide an opportunity for each of the projects to pitch their ideas to the program’s key investment partners and secure further seed funding. Investors and mentors include NGC, Fundamental Labs, Republic, Animoca and Delphi Digital.
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About Cronos
Cronos (cronos.org) is the leading Ethereum-compatible layer 1 blockchain network built on the Cosmos SDK, supported by Crypto.com and more than 500 app developers and partners. Today, the #CROfam ecosystem represents an addressable user base of more than 80 million people worldwide. Our mission is to make it easy and safe for the next billion crypto users to adopt Web3, with a focus on decentralized applications in the DeFi, NFTs and GameFi verticals.
Shortly after launch in 2021, Cronos achieved a top 10 position amongst all chains by TVL. It is home to more than 1 million users and 500+ dApps.
Transaction fees are paid in Cronos ($CRO), a blue chip cryptocurrency.
The Cronos ecosystem is supported by Cronos Labs, the start-up accelerator of the Cronos chain.