Web3 Foundation Launches $45M USD Decentralized Futures Program To Back Diverse Range of Ecosystem Projects
The new program to kickstart Polkadot projects is backed by 20M USD and 5M DOT, which will be allocated throughout 2024
ZUG, Switzerland--(BUSINESS WIRE)--#45m--Today, Web3 Foundation, whose flagship project is the Polkadot blockchain protocol, announces the launch and opening of applications for their decentralized Futures Program. The program will provide funding to kickstart teams and individuals building ambitious projects that contribute to the growth of the Polkadot ecosystem and is backed by 20M USD and 5M DOT throughout 2024, equivalent to over $45M USD.
Speaking on the launch of the program, CEO of Web3 Foundation, Fabian Gompf said, “The Foundation believes its strongest asset is the community itself. The decentralized Futures Program doubles down on this belief, allocating sizeable investments and grants that can accelerate the growth of decentralized technologies. By empowering our community to lead the next phase of the development of Polkadot we are tapping into the diverse capabilities of our community, and moving away from centralized stewardship of the protocol. In doing so, the program represents a meaningful step closer to realizing the fundamental vision of the Foundation: creating a decentralized internet where users control their own data, identity and destiny.”
Web3 Foundation stresses that teams and individuals of all sizes, backgrounds and disciplines will be eligible for funding, including but not limited to, projects working on developer experience, marketing, community events, ecosystem development, common good parachains and infrastructure. Funding will be awarded to projects that can evidence capacity to scale to self-sufficiency.