Web3 Startups Show Interest in Accelerators Programs Ahead of Upcoming Crypto Bull Market

Web3 Startups Show Interest in Accelerators Programs Ahead of Upcoming Crypto Bull Market

As crypto establishes a strong recovery, Web3 startups have stepped up their game to benefit from the upcoming bull market. In a recent report, Web3 startups have migrated to accelerator programs to gain a competitive advantage in the vibrant crypto sector.

The accelerator program offers individuals and businesses a mentorship program and support to firms at their early growth stage. The accelerator programs have emerged as an effective platform that nurtures businesses to attain the end goal.

Web3 Startup Sign Up for Accelerator Programs

Among the famous accelerator programs is the Y combinator, which offers comprehensive support to Coinbase and the largest non-fungible token (NFT) marketplace.

In a March 26 update, Andreessen Horowitz (a16z) unveiled the projected lineup for the 2024 startup accelerator. At present, the a16z anticipates that 25 startups will participate in the 10-week mentorship program in London.

In a subsequent report, the a16z operating partner Jason Rosenthal shared a comprehensive report outlining projects selected for the upcoming accelerator program. The executive confessed that the qualified candidates for the accelerator program are based in Farcaster infrastructure, zero knowledge passport authentication and decentralized food delivery.

After completing the accelerator program, the participants will receive $500,000 and 7% equity. Some of the beneficiaries of the accelerator program include the Flashbot and Phantom platform.

Crypto Firms Prepare for Upcoming Bull Market

The Andreessen Horowitz accelerator program mirrors the mentorship program Codebase launched by Avalanche Foundation in partnership with Ava Labs last year. The Codebase anticipated the eligible applicants to receive an investment worth $500,000 to $1 million.

Correspondingly, the famous Web3 game development firm Helika launched an accelerator program in collaboration with Pantera Capital, Spartan Capital, Sfermion and other fast-paced venture capitalists.

The participant in the Helika accelerator program expects to receive an investment amounting to $50 to $ 1 million. Reportedly, the strong rally of crypto assets has compelled the Web3 startup to establish a significant comeback in the digital sector.

Benefits of Accelerator Programs

In February, 1kx launched a $75 million fundraising to support its artificial intelligence (AI) and crypto projects. In an X post, an executive at Symbolic Capital, Sam Lehman, argued that the crypto accelerator programs play a significant role in supporting startups in the Web3 sector.

He noted that the crypto accelerator program has recently been on the rise. In most cases, the accelerator seeks to promote the company image and offer financial support to businesses at their growth stage.

However, since some accelerators have predatory practices, Lehman advises investors to be hyper-vigilant when enrolling in these programs. He warned investors that some of the accelerators seek to take advantage of the companies in the early development stages.

Lehman argued that some accelerators seek to own a significant share of the company in the long run. He urged the investors to carefully consider the terms and conditions offered by the accelerators before signing the agreement.

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