Ignite, the Cosmos development company (formerly Tendermint), has launched Ignite Accelerator. The program targets Web 3.0 projects.
Presenting Ignite Accelerator, our $150M-backed program for innovative #Web3 projects. Together with Ignite CLI and Ignite Ventures, we now offer the most comprehensive innovation platform for blockchain developers. ⏩https://t.co/OeltmbxuJA pic.twitter.com/JpesLZKDEA
— Ignite (formerly Tendermint) (@ignite_com) April 12, 2022
Ignite Accelerator has backing from 11 partners, including Alameda Research, KuCoin Ventures, Hashkey Capital, and OKX Blockdream Ventures. The total program fund is $150 million.
“We have extensive experience in bringing ambitious blockchain projects to fruition, so our accelerator program is an important expansion that will allow us to scale our efforts to foster innovation in the industry,” said Ignite’s Director of Growth Sane Lebren.
Up to 20 early-stage projects can receive support each year. Each session will last six months, and participants must launch the mainnet within 12 months.
In March 2021, Tendermint launched a fund for $20 million to support promising Cosmos-based projects focused on interoperability.
In February 2022, the company conducted a rebranding, as founder Do Kwon, who had left the project, regained ownership of the brand.
In April, Uniswap Labs launched a venture arm focused on Web3 projects, infrastructure startups and tools for blockchain development.
Earlier, Griffin Gaming Partners raised $750 million for a fund focused on gaming and the Web 3.0 segment.
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