Kadena, a proof-of-work cryptocurrency that also has the ability to support smart contracts, has announced a new set of grants aimed at incentivizing the creation of Web3 experiences. This $100 million grant fund is part of the Kadena Eco initiative, which aims to provide builders with a comprehensive suite to deploy their solutions at the top of the chain.

Kadena grants seek to attract people to the ecosystem

Kadena, a top 100 cryptocurrency project based on proof-of-work (PoW) consensus but also offering the ability to run smart contracts, has revealed a new set of developer grants aimed at attracting builders to its channel. The grant program, which will have $100 million available for interested teams, is part of the Kadena Eco program, which features a set of other initiatives aimed at helping teams, companies and startups produce Web3 experiences.

The Kadena Eco program includes several other components that will be developed soon. Among them are an incubator to develop the skills of more developers in different projects, an accelerator to propel other projects, and even a venture capital fund that aims to “propel companies using or switching to the platform. Kadena’s blockchain to achieve their vision”.

Regarding this comprehensive global support that Kadena seeks to offer manufacturers, Stuart Popejoy, founder and CEO of Kadena, said:

We empower builders to launch new projects that transform the world, and we back up our promise to do so by actively and responsibly deploying our cash resources to ensure the long-term sustainability of our ecosystem.

Process for Grants and Similar Programs

The grant program is already open and receiving proposals. The Kadena team’s press release explains that each of the proposals will be reviewed based on several key aspects, including: technical strength, specification detail, team experience, and usefulness to its ecosystem. The team will receive proposals in the areas of gaming, metaverse, NFT, Web3, DeFi and DAOs.

However, recipients of this grant will also be required to meet Kadena’s requirements and contribute to the ecosystem by producing materials to teach others in the community how to program their products.

Web3 has become a very important focal point for many companies and funds that invest and offer builder incentives. Griffin Gaming Partners announced one of the biggest Web3 and gaming funds in March, raising $750 million at that time. The Avalanche Foundation also launched a $200 million fund called Blizzard last November, which seeks to invest $200 million in innovations built on top of Avalanche.

What do you think of Kadena’s $100 million Web3 development fund? Tell us in the comments section below.


Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price surge happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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