Published: 21.04.2022
Article reading time:
2 minutes.
Blockchain developer Kadena is launching a $100 million grant program to support startups developing their metaverses, blockchain games, NFTs, DeFi or DAOs.
The company Kadena, which developed the hybrid blockchain of the same name, announced the launch of a grant program for Web3 developers. According to the announcement, the company will encourage enthusiasts to develop projects on its blockchain.
Kadena was founded by JPMorgan investment bankers Stuart Popejoy and Will Martino. Popjoy served as director of new products while Martino was JPMogan’s lead engineer for blockchain products. They left the company in 2016 to found Kadena. The company will redouble its efforts and leverage its assets to ensure the long-term sustainability of the ecosystem, Popjoy said.
The grants program is part of the KadendaEco initiative, a larger development project that offers accelerated scaling assistance, venture capital and grants to young projects. The new initiative through KadenaEco will offer financial and strategic support to startups working on blockchain games, metaverses, DAO, NFT and DeFi projects.
To win a grant, entrants will have to demonstrate that their development is unique and truly beneficial to the Kadena ecosystem, as well as provide detailed technical documentation and submit a qualified team. Mentors assigned to the teams will oversee the development, and the participants themselves will have to publicly document the progress of the work.
Earlier, the American investment company Coinbase Ventures announced plans to issue grants to representatives of the Indian crypto industry.
Source: Bits
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