The Launch of Sonic Labs by Fantom Foundation
The Fantom Foundation has introduced the Sonic Labs startup accelerator program to support innovation within its recently released “Sonic” tech stack. The program aims to provide resources, guidance, and support to up-and-coming Web3 founders. Fantom Foundation invites eligible projects to apply for the program, which will commence development on December 15.
Support for Selected Projects
Up to five projects will be chosen to join the accelerator program and will receive a share of the 1,000,000 FTM grant pool, equivalent to approximately $294,000 USD. The grant will finance the development of these projects’ minimum viable product (MVP). Additionally, selected projects will receive technical assistance, co-marketing opportunities, and mentorship from Fantom Foundation leaders, including Director Andre Cronje.
Partnerships and Future Investments
Partnered venture capital firms are aligned with the grant, and further investment is possible for the selected projects. Each project is expected to launch alongside the Fantom Sonic mainnet in spring 2024.
Sonic Labs Program Details
The program is open to developers creating new applications using Fantom’s technology in various blockchain sectors. The selection process consists of evaluation by Fantom Foundation executives and VC partners based on criteria such as the project’s vision, utilization of the Sonic tech stack, target user base, uniqueness, and potential impact on the Fantom network and its users. The application period is open until February 6, 2024, with winners to be announced shortly after.
The Fantom Foundation and its Technology
The Fantom Foundation is dedicated to growing and supporting the Fantom ecosystem and its high-performance blockchain. The blockchain supports efficient smart contracts, enabling developers to build scalable applications with low fees and robust security.
Hot Take: Fantom Foundation Launches Sonic Labs Accelerator Program
The Fantom Foundation has unveiled its Sonic Labs startup accelerator program to support the development of innovative projects using its Sonic tech stack. This program offers selected projects a financial grant, technical assistance, co-marketing opportunities, and mentorship from Fantom Foundation leaders. By partnering with venture capital firms, these projects also have potential for further investment. The deadline to apply for the program is February 6, 2024. The Fantom Foundation aims to cultivate the growth of the Fantom ecosystem, known for its high-performance blockchain technology. The Sonic Labs program presents an exciting opportunity for Web3 founders to leverage Fantom’s resources and expertise.
By
By
By
By
By