New $60M web3 fund from Axelar offers close support from Circle, Polygon & exposure to top investors

Axelar, an inter-chain communication protocol, includes announced A $60 million funding program to foster innovation for web3 startups building during a bear market.

“The Axelar Ecosystem Startup Funding Program is designed to foster a pipeline of developers building Web3 products that rival anything on the centralized web.”

Given the current cryptocurrency landscape, such funding could be a lifeline for new developers looking to enter the space, as well as early-stage startups needing funding to survive the crypto winter. There is a nature.

Axelar said the fund “is aimed at projects that are ready to raise institutional capital,” while the Axelar Grant Program “supports projects in the idea stage.” To apply for the Ecosystem Funding Program, accelerator funding request shape. People in the “idea stage” website.

“The Ecosystem Funding Program is an ecosystem investor focused on the flow of high-quality inter-chain projects.”

Blockchange, Chorus One, Collab+Currency, Cygni Capital, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, SCB, according to the announcement. 10X etc.

The new fund is intended for projects seeking to address the following issues:

• Solve global problems that cannot be addressed by a centralized Internet.
• Protect digital sovereignty, security and privacy.
• Easily onboard the masses without unnecessary friction between specific blockchains or tokens.

Support from Axelar and its partners is already making a difference in the ecosystem, according to people familiar with the matter.

“Many services are provided by Axelar and our ecosystem partners. For example, Circle, Polygon: we work closely with them to support new projects in their ecosystem. Building is new even to experienced Web3 developers.

Axelar’s collaborator Prime Protocol also commented That

“Prime has been working with Axelar for quite some time. The future is multi-chain and #DeFi needs new financial primitives to increase capital efficiency.”

crypto slate We spoke with Jason Ma at EthCC about the vast opportunities for cross-chain assets such as NFTs over the Axelar network.watch the full interview Here.