As Bitcoin soared past $40,000, bringing the total value of the cryptocurrency market to a huge $1 trillion, Web3 companies are aggressively giving grants to help the blockchain ecosystem grow.
The Worldcoin Foundation, which runs the well-known Worldcoin project with support from OpenAI CEO Sam Altman, announced a big $5 million program for community funds on December 6. It’s called “Wave0.” The payments will be given out using Worldcoin (WLD) tokens or stablecoins like USD Coin.
Wave0 is made to help a wide range of projects, such as hackathons, community leaders, and event sponsors. The foundation has also set up more grant tracks, with a focus on providing money for bigger projects in the ecosystem.
The Worldcoin Foundation has launched its Community Grants Program.https://t.co/bWb3jdl69V
— Worldcoin (@worldcoin) December 6, 2023
In addition to Worldcoin, a number of other groups are also giving grants to help the growth of Web3 infrastructure. A layer-2 protocol called Coinweb revealed a big $10 million grant program to help developers build Web3 services and decentralized applications (DApps) on its infrastructure platform.
The funds, which can be as much as $300,000, will depend on the types of DApps and how far along they are in development. It’s clear that Coinweb wants to support decentralized finance, decentralized markets, wallets, games, non-fungible tokens (NFTs), and social finance.
At the same time, the Fantom Foundation started an incubator program that will give five projects 1 million Fantom tokens, which are worth more than $300,000. The program offers mentoring chances from important people in the Fantom Foundation, such as Director Andre Cronje.
In a related event this month, the Arbitrum community increased the fund for its grant program by $23 million to cover all applicants. With this increase, the budget for the Arbitrum grant program goes up to a huge $70 million, which will help 56 different projects in the environment.
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