Kadena, a proof-of-work-based cryptocurrency that also has the possibility of supporting smart contracts, has announced a new set of grants directed to incentivize the creation of Web3 experiences. This $100 million grant fund is part of the Kadena Eco initiative, whose objective is to offer builders a complete suite to deploy their solutions on top of the chain.
Kadena grants seek to attract people to the ecosystem
Kadena, a top 100 cryptocurrency project based on proof-of-work (PoW) consensus but also offering the ability to run smart contracts, has revealed a new set of developer grants aimed at attracting builders to its chain. The grant program, which will have $100 million available for interested teams, is part of the Kadena Eco program, which features a set of other initiatives aimed at helping teams, companies and startups produce Web3 experiences.
The Kadena Eco program includes several other aspects that are to be developed in the near future. Among them are an incubator for growing the skills of more developers in different projects, an accelerator to power other projects, and even a venture fund that aims to “propel companies using or pivoting to Kadena’s blockchain platform to realize their vision.”
Regarding this comprehensive global support that Kadena seeks to offer manufacturers, Stuart Popejoy, founder and CEO of Kadena, said:
We’re empowering builders to pioneer new projects that transform the world, and we’re doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure long-term sustainability of our ecosystem.
Process for Grants and Similar Programs
The grant program is already open and receiving proposals. The Kadena team’s press release explains that each of the proposals will be reviewed based on several key aspects, including: technical strength, specification detail, team experience, and usefulness to its ecosystem. The team will receive proposals in the areas of gaming, metaverse, NFT, Web3, DeFi and DAOs.
However, recipients of this grant will have to also abide by Kadena’s requirements, and contribute to the ecosystem by producing material directed to teaching other members of the community about the programming of their products.
Web3 has become a very important focal point for many companies and funds that invest and offer builder incentives. Griffin Gaming Partners announced one of the biggest Web3 and gaming funds in March, raising $750 million at that time. The Avalanche Foundation also launched a $200 million fund called Blizzard last November, which seeks to invest $200 million in innovations built on top of Avalanche.
