In a bid to fuel innovation within its revolutionary Sonic technology stack, the Fantom Foundation has proudly launched the Sonic Labs startup accelerator program. Geared towards empowering the next wave of Web3 founders, this initiative offers essential resources, guidance, and support.
Sonic Labs is set to incubate the development of up to five selected projects, each poised to drive the growth of Fantom’s Sonic technology. With a commitment to supporting these promising ventures, the Fantom Foundation ensures that selected projects receive ongoing assistance, including direct mentorship from none other than Andre Cronje, the distinguished Director at Fantom.
Key Features of Sonic Labs Accelerator Program
Grants and Financing: The Foundation has allocated a pool of 1,000,000 FTM (~294,000 USD) to finance the MVP development of each selected project.
Comprehensive Support: Selected projects benefit from technical support, co-marketing, and invaluable mentorship from key Fantom leaders, including Andre Cronje.
Investment Opportunities: Developers get the chance to present their projects to partner VCs and the Foundation for potential further investment.
Mainnet Launch: The selected projects are anticipated to launch alongside the Fantom Sonic mainnet, scheduled for release in spring 2024.
“We firmly believe that our community is a driving force behind Fantom’s success. So we want the Sonic Labs program to clearly demonstrate our dedication to the next generation of web3 entrepreneurs and innovators.
Michael Kong, CEO of Fantom Foundation
“By leveraging the Foundation’s resources and Andre’s industry knowledge, we’re looking forward to bringing together the most ambitious web3 pioneers in the Fantom community,” addded Michael Kong.
Andre Cronje, Director at Fantom Foundation, expressed his enthusiasm: “I’m looking forward to working with the top projects from Sonic Labs, leveraging my experience in building applications and general industry insights to enhance the development of promising projects within our ecosystem.
Having access to industry veterans pays dividends early in the development cycle and that is exactly what I look to provide to our Sonic Labs partners.”
Sonic Labs Eligibility and Judging Criteria
The program is open to all developers crafting applications with Fantom’s technology, spanning blockchain sectors such as GameFi, DeFi, NFTs, and more. Submissions will be evaluated based on various criteria, including vision, utilization of Sonic’s technology, identified target user base, uniqueness, positive effects on the Fantom network, and brand impact.
Applications are open from now until February 6, 2024, with winners set to be announced shortly thereafter. Interested parties can review the terms and conditions here.
About The Fantom Foundation
Dedicated to growing and supporting the Fantom ecosystem, the Fantom Foundation comprises a global team of engineers, scientists, researchers, designers, marketers, and entrepreneurs. Their collective vision propels the industry forward through the Fantom blockchain.
Fantom stands as a high-performance blockchain that champions smart contracts. Developers benefit from building scalable applications with low fees, all while enjoying the full security offered by the Fantom Network.
Read the full article here