Cronos Labs, a blockchain startup accelerator focused on decentralized finance, blockchain games and the development of the Cronos ecosystem, has announced the second cohort of its flagship, US$100 million-backed Cronos Accelerator program. First launched in June 2022, the program targets early-stage crypto projects, providing them with mentorship and funding opportunities to stimulate innovation and growth within the Cronos ecosystem and help propel it widespread adoption of Web3.
Cronos Labs kicks off second cohort of Web3 accelerator program, providing world’s first mentorship at the intersection of AI and blockchain
After a 43% increase in applications compared to its previous cohort, Cronos Labs has selected eight projects to participate in the next iteration of its accelerator program. Each selected project received seed funding of USD $30,000 and started the 12-week program on May 15, 2023.
The projects are:
1. Omnus – Web3 game development ecosystem
2. DeMe – A Decentralized Social Networking Platform
3. Furrend – A pet-focused video sharing platform
4. Solace – Wallet SDK Embed smart contract wallets in apps and games
5. Sakaba – Web3 Gaming Loyalty Platform
6. Requirements Finance – Exchange Aggregator aimed at institutional trading firms
7. Earn Network – Liquid marketplace for revenue earning opportunities
8. CorgiAi – An ecosystem to enable the peer-to-peer economy of generative AI.
Promoting AI-enabled innovation
As the world’s first AI-focused blockchain accelerator, a key theme of the second cohort is the use of artificial intelligence (AI) to accelerate Web3 adoption. Following their recent partnership with Cronos Labs, AWS will deliver AI-related workshops to select participants and hold mentorship sessions. Cronos Labs will use AWS Activate to support selected Web3 projects to scale and grow by giving them access to AWS resources, including machine learning and AI services.
In addition to access to AWS’s AI expertise, projects in the second cohort will receive a curriculum centered on large language models alongside mentors with extensive experience in AI. Notable new partners of the second cohort of Cronos’ Accelerator program include CertiK, Hacken and Covalent.
Ken Timsit, Head of Cronos Labs said: “The surge in applications for the second cohort of the Cronos Accelerator Program is representative of the growing confidence and belief within the wider Web3 ecosystem. Startups and developers are here to deliver the next building iteration of technology, exemplified by the increased appetite we’ve seen in the number of applications for this second cohort. The program remains focused on fostering innovation within the Cronos ecosystem, the leading Cosmos-built and Ethereum virtual machine-enabled blockchain , to ultimately drive the widespread adoption of Web3.”
Charlotte Kapoor, Head of Innovation Programs at Cronos Labs added, “This program is poised to nurture the intersection of large-scale generative AI with innovative blockchain solutions, ultimately empowering builders and users to drive unparalleled growth. The space is buzzing with opportunity, and the Cronos Accelerator program will give selected projects the tools needed to build the confluence of Cosmos and Ethereum within the Cronos ecosystem.
Upon completion of the twelve-week programme, shortlisted projects will participate in a demo day at the end of July 2023, where they will pitch their projects to program investment partners to secure further seed funding. Investors include NGC, Fundamental Labs, Spartan Group and Delphi Digital.
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