Axelar, Blockchange, Dragonfly, dao5, and a list of top blockchain venture capital firms have launched a program to fund Web3 products that the centralized web cannot offer. Axelar, delivering secure interchain communication across Web3, today announced the $60 million Axelar Ecosystem Startup Funding Program for Web3 builders who aim for mass adoption and impact.
Axelar delivers secure cross-chain communication for Web3. Axelar proof-of-stake platform allows devlopers to build a complete experience for users that lets them interact with any asset, any application, on any chain.
The Axelar Ecosystem Startup Funding Program is aimed at accelerating the development of decentralized applications and protocols that can replace centralized exchanges, providing onramps to blockchain-based technology for millions of users.
The program is backed by top-tier blockchain investors, including Blockchange, Chorus One, Collab+Currency, Cygni, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, and SCB 10X among others.
Commenting on the launch, Sergey Gorbunov, co-founder of Axelar, said: “Recent innovations on the decentralized Web, from digital art to novel market infrastructure, have inspired speculative fervor, but centralized services have been the beneficiaries – with disastrous results.
“With the Axelar Ecosystem Startup Funding Program, Axelar and its investment partners will back a new generation of Web3 startups that are poised to change that flow,” Sergey Gorbunov said.
“The Axelar Ecosystem Startup Funding Program is designed to nurture a pipeline of developers building Web3 products that are better than anything on the centralized web,” Axelar told AlexaBlockchain.
The creators of Axelar Ecosystem Startup Funding Program expects that their funded startups will solve global problems that the centralized internet cannot address, safeguard digital sovereignty, security and privacy, and onboard masses easily, without unnecessary friction between specific blockchains or tokens.
Developers can read the official documentation to find out how Axelar can help make their user experiences chain-agnostic and seamless, and get in touch with the Axelar core team.