Graduation Day: Beacon’s First Cohort Shines
Beacon’s inaugural 12-week accelerator program, known as Cohort 0, wrapped up in style on January 10th, showcasing 13 determined startups. These innovators, hailing from diverse fields such as decentralized finance (DeFi), gaming, and blockchain infrastructure, put their best digital foot forward, presenting their projects to eager investors and curious onlookers.
Meet the Graduates: A Stellar Lineup
- Arcana
- Blinkmoon
- ChapterX
- Colexion
- Community Gaming
- Cubist
- FastLane
- Meta Apes
- Mystic Moose
- Nillion
- Davos Protocol
- Timeswap
- Ylide
Sandeep Nailwal, co-founder of Polygon and mastermind behind Beacon, referred to these trailblazers as the “MVP of Beacon.” They were the pioneering group to harness the accelerator’s chain-agnostic capabilities, proving that resilience is key in the ever-evolving blockchain landscape.
Overcoming Adversity: The FTX Factor
The journey was not without its bumps. Nailwal reflected on the challenges posed by the collapse of FTX, which sent shockwaves through the crypto community. “There was a constant worry that companies might disengage amid the market turmoil,” he remarked. However, contrary to expectations, all participants showed remarkable tenacity and commitment, focusing on building their visions despite significant market headwinds.
The Road Ahead: Cohort 1 on the Horizon
Looking forward, applications for the next round, Cohort 1, are open until January 31st. This time, up to $8 million in funding is up for grabs for 32 selected startups. Aspiring applicants will be scrutinized based on team quality, community engagement, and the innovation of their Web3 solutions. So, if you think your project could impress—or just want to try out your pirate accent while pitching your idea—now’s your chance!
The Big Picture: Investment Trends
The Web3 ecosystem continues to flourish, even amid a bear market. In 2022 alone, the sector witnessed record-breaking venture capital investments. November alone saw 23 notable deals tallying up to a whopping $168.3 million, with infrastructure projects leading the charge. It seems that while some parts of the market falter, the push towards innovative internet solutions persists!
