'Cronos Establishes $100 Million War Chest to Launch Accelerator Program ' blockchain cryptocom
More than a million people utilise Cronos, which has risen to a top 10 position among all chains in terms of total value locked and has grown by 20% every month. There are more than 50 million members in the Cronos ecosystem, fueled by the Cronos cryptocurrency. Incubator, investment fund, and web3 start-up accelerator all rolled into one, Cronos Labs is the company's answer to expanding and building the web3 ecosystem through continued mentoring and innovation through funding.
Accelerators typically advise entrepreneurs on how to seek government funds and pitch to regular VC companies. Such fundings are often the first investment round for technical or social web3 applications, which helps to kick start the company. The establishment of web3 accelerators is critical for the blockchain industry in order to ensure continued funding, support, knowledge sharing and innovation.Blockchain development relies heavily on innovation.
Many ambitious innovators who enroll in web3 accelerators lack business experience, and they rapidly discover that launching and scaling a new web3 application is challenging. Mentors, success stories, and subject matter experts provide the information and skills necessary to launch the web3 concept and convert it into a reality. The impact of accelerators on web3 and the blockchain ecosystem is tremendous.
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