As global crypto enthusiasm has grown exponentially, blockchain startups have availed opportunities to join accelerators, increase their growth, and attract more investments.
Crypto enthusiasm has grown globally, as evident from the crypto market’s bullish sentiments. This enthusiasm has also led to a growing number of blockchain startups. These startups are, in turn, looking towards accelerators for mentorship and funding. New crypto investments across the world are also witnessing a spurt in growth.
Recently, venture capital firm a16z published a list of blockchain startups that will join its mentorship program in London. The firm has chosen 25 startups for the 10-week program, which has a distinguished list of alumni startups engaged in a range of crypto use cases. Moreover, a16z procures a 7% stake in these companies in return for investing $500,000 in each one of them.
Jason Rosenthal, who heads the Crypto Startup School at a16z, said, “The founders of these 25 companies have an ambitious vision paired with the drive and talent to advance core sectors of the crypto ecosystem, including infrastructure, consumer apps, DeFi, payments, games, dev tools, and DePIN.”
The companies also come from eight countries, indicating wide diversity and growing crypto enthusiasm worldwide. Meanwhile, in 2023, Ava Labs and the Avalanche Foundation had also chosen several companies for a similar program.
Gaming in the blockchain space has been attractive, with a booming market. Especially in North America, the sector has a value of over $150 billion and is growing at a CAGR of 21.80%. A prominent case is the blockchain gaming firm Helika launching an accelerator program with venture capital firms. It has announced funds up to $50 million for companies joining its program.
With the rise of crypto investments and the sector in general, many more such accelerator programs could fuel it.
Millionero’s blog provides an overview of the crypto sector through the latest updates!