Cronos Labs, a blockchain business accelerator, has recently formed an exclusive partnership with Protocol Labs, an open-source research and development facility. The collaboration aims to drive the adoption of Web3 technologies and strengthen the web by empowering startups within the Cronos ecosystem.
Under the agreement, Protocol Labs will provide entrepreneurs participating in the Cronos Accelerator Program with the necessary tools to create Web3 applications on the Cronos ecosystem. The program focuses on AI and blockchain startups involved in decentralized finance, Web3 gaming, and social apps. By partnering with Protocol Labs, Cronos Labs aims to provide selected startups with the resources, knowledge, and funding needed to develop innovative Web3 applications and frameworks on the Cronos chain.
Protocol Labs, with its team of over 300 people, will organize workshops and provide technical support and consultation to the participants of the Accelerator Program. Their expertise will help accelerate the creation of blockchain applications and contribute to the broader acceptance of Web3 technologies.
Charlotte Kapoor, Head of Innovation Programs at Cronos Labs, believes that the partnership with Protocol Labs will empower startups within the ecosystem and drive industry growth. Ruben Amenyogbo, Head of Builders at Protocol Labs, also sees the collaboration as a way to promote Web3 technologies, including GameFi, SocialFi, and Web3 framework initiatives, as well as decentralized finance.
The Cronos Labs Accelerator Program focuses on early-stage Web3 teams specializing in the intersection of AI and blockchain. As part of the program, eight startups have already received seed funding of $30,000, with the opportunity for additional funding up to $300,000. Cronos Labs and its partners will provide the necessary financial support to help these startups thrive.
Cronos is the first EVM-adaptable Layer 1 blockchain network developed using the Cosmos Software Development Kit. It has gained support from prominent industry players such as the Crypto.com exchange and the Crypto.org blockchain. With over 500 application developers and associates, Cronos aims to drive innovation and development within the blockchain ecosystem.
As an open-source research and development laboratory, Protocol Labs plays a vital role in advancing the internet. Their contributions, including initiatives like IPFS, Filecoin, and libp2p, focus on improving and democratizing the web.
The partnership between Cronos Labs and Protocol Labs signifies a significant step towards the wider adoption of Web3 technologies. Through their collaborative efforts, they aim to empower startups, nurture innovation, and drive the growth of decentralized finance and other blockchain businesses. By providing the necessary tools, knowledge, and funding, they hope to create an environment conducive to the development of groundbreaking Web3 applications.
Overall, the partnership between Cronos Labs and Protocol Labs marks an important milestone in the journey towards a decentralized and democratized web. Through their collective expertise and resources, they are poised to make a lasting impact on the blockchain industry and encourage the adoption of Web3 technologies.
