The Fantom Foundation has just launch the Sonic Labs accelerator program. This project centers on the recently unveiled Sonic technology with the goal of fostering innovation inside the Fantom ecosystem. With its vital resources, coaching, and support, the program is a lighthouse for prospective web3 entrepreneurs.
A small number of up to five initiatives will be cultivated under the Sonic Labs program, all of which are essential to the development of Fantom Sonic technology. The Foundation has allocated a grant pool of one million FTM, or about $294,00 USD, to each initiative in order to create the minimum viable product (MVP). In addition to financial support, the beneficiaries will receive technical assistance, co-marketing possibilities, and one-on-one coaching from prominent Fantom figures, such as Andre Cronje.
Beyond just financial assistance, participants will get the opportunity to present their initiatives to the Foundation and possible investors in order to secure additional funding. The projects that are successful are anticipated to coincide with the spring 2024 launch of the Fantom Sonic mainnet.
Developers using Fantom technology to create apps for a variety of blockchain industries are welcome to apply for the Sonic Labs initiative. Executives from the Fantom Foundation and VC partners will select based on a number of criteria, including vision, use of technology, target market, distinctiveness, and potential influence on the Fantom network.
The program will end on February 6, 2024, and the winners will be announced when applications are closed. This program demonstrates Fantom’s dedication to community and technological growth and is a significant step in supporting and cultivating creative talent in the blockchain space.
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