Cronos Labs launches second cohort of $100M Web3 accelerator

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Cronos Labs, a blockchain startup accelerator, has announced the launch of the second group of Cronos Accelerator programs. The program is backed by a significant $100 million investment and aims to support early-stage crypto projects by providing mentorship and funding opportunities.

According to the announcement sent to Cointelegraph, Cronos Labs has handpicked eight projects to participate in the accelerator program. Each of the selected projects, namely Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network, and CorgiAI, received $30,000 upfront seed funding to kick off the 12-week program.

Selected projects include Web3 game development, decentralized social networking, pet-focused video sharing, smart contract wallet integration, loyalty platform for Web3 games, exchange aggregation for institutional trading, revenue We cover a wide range of areas, including a fluid marketplace for acquisition opportunities. An ecosystem for a peer-to-peer economy of generative artificial intelligence.

One of the key themes of this second cohort is the intersection of artificial intelligence (AI) and blockchain technology. Cronos Labs has partnered with Amazon Web Services (AWS) to offer his AI-related workshops and mentorship sessions to participating projects. Additionally, selected projects will have access to his AWS resources, including machine learning and AI services. CertiK, Hacken and Covalent are among the notable additional companies as partners in this cohort.

At the end of the 12-week program, participating projects will be given a platform to present their concepts to investment partners at a demo day scheduled for late July 2023. This event gives attendees the opportunity to secure additional seed funding and gain support. Recognized by investors including NGC, Fundamental Labs, Spartan Group and Delphi Digital.

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Cronos,’s blockchain platform, launched a $100 million accelerator program in June to support early-stage decentralized finance and Web3 projects. The program was backed by prominent companies such as Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and DoraHacks.

Despite the long cryptocurrency winter, there is a rise in blockchain accelerator programs focused on Web3 development. On May 22nd, The Open Network (TON), a Layer 1 blockchain developed by Telegram, announced the “TON Accelerator Program,” a fund worth $25 million to support projects within its ecosystem. . The program will offer investments ranging from $50,000 to $250,000. On top of the invaluable partnership and guidance from the team at TON, for each project.

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