Quick take:
- Fuse has launched a $10 million grant program for Web3 projects.
- The EVM-compatible layer-1 blockchain wants to simplify the launch of non-custodial consumer fintech apps for businesses.
- Besides the funding, startups will also receive strategic mentorship and gain access to an ecosystem of Web3 payments.
Fuse Network has launched a $10 million grant for Web3 projects focused on enhancing the utility of non-custodial wallets, decentralized finance (DeFi), and non-fungible tokens (NFTs).
The EVM-compatible layer-1 blockchain developer said it will use the Fuse Web3 Business Grant program to turbocharge Web3 projects, foster mainstream adoption, and simplify the launch of non-custodial consumer fintech apps for businesses.
According to the announcement, the program will offer strategic funding for early-stage ideas and more developed projects, especially those involved in payments. Selected projects will also receive mentorship, gain access to an ecosystem of Web3 payments and receive all the benefits of using an EVM-compatible blockchain, including cheap and fast transactions, auxiliary payment services, easy onboarding, a mobile-first experience, multi-currency coverage, and a high-performance user experience.
Commenting on the announcement, Mark Smargon, CEO and co-founder of Fuse Network said: “As ecosystem builders, we must ignite excitement for new technology and attract developers even during market downturns.”
Some of the notable projects on the Fuse ecosystem include Request Finance — a decentralised Web3 payments infrastructure, fiat on-ramp protocol — Ramp, The Graph — an indexing protocol that allows users to access blockchain data via GraphQL, and Etherspot a software development kit for EVM-compatible networks.
The Fuse Web3 Business Grants program has already supported some of the leading projects in its ecosystem including the decentralised ID protocol — Chromepay, which offers financial services linked to each D-ID through the Fuse Wallet SDK.
The program is open for applications beginning November 27, 2023, through December 22, 2023.
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