DFINITY, a non-profit organization based in Switzerland, just announced the launch of the Olympus Accelerator Platform, the first decentralized on-chain accelerator platform of its kind. The platform will initially be funded by $20 million allocated for the ICP Asia Alliance, a fund created to foster Asia’s Web3 and AI ecosystem.
Olympus will support the adoption and development of Web3 technology across several ecosystems and can be utilized by teams around the globe to manage and launch their own accelerator programs. To kick things off, it will curate top projects from over 40 countries around the world, and investors will have the chance to gain early access to globally vetted deals. Projects accepted to the platform will receive access to grants, VC investments, and crowdfunding options on-chain.
According to the report, it’s the first Web3 accelerator featuring a “trustless perpetual loop” that uses the Internet Computer Protocol (ICP) to provide on-chain verification of project growth metrics. Its “Open Stake” model allows mentors, projects, and investors the chance to interact in a “permissionless ecosystem” with inclusive and unlimited integrations.
Dominic Williams, the founder and chief scientist at DFINITY, said the accelerator program is a “new model” that will “create a credible and trustless marketplace” that can be accessed by “all qualified projects.”
Olympus was created with the help of Web3Labs, a blockchain accelerator platform based in Hong Kong, with additional support from Fundamental Labs, Fenbushi Capital, NewTribe Capital, Bitcoin Frontier Fund, Leadblock Partners, 3X Capital, and more. Along with the news, DFINITY also announced that by the end of the year it will transition into a decentralized autonomous organization.
Accelerator Programs Are on the Rise
DFINITY’s announcement of a new decentralized accelerator platform is exciting for Web3 projects and teams that need help building in the space. But DFINITY isn’t the only platform investing in Web3 accelerator programs. Here are three articles about the launch of Web3 accelerator funds recently.
First, last week, the gaming AI-powered analytics startup Helika, announced the launch of a $50 million Web3 gaming fund called the Helika Accelerate program. The fund is focused on providing mentorship in chain selection, user acquisition, marketing, and tokenomics to Web3 games.
Next, in December, the Chinese venture capitalist firm GBA Capital announced a $10 billion fund to accelerate Web3 growth in certain regions of China. The money will go to startups in the areas of the metaverse, NFTs, and virtual reality.
Finally, in November, Animoca Brands partnered with Polygon Labs and Amazon Web Services to launch the ‘MoonRealm Express Accelerator.’ The fund will support builders in the areas of SocialFi, GameFi, and decentralized identity. As part of Animoca Brands’ Mocaverse project, the accelerator aims to help creators bring their ideas from concepts to real-world products and applications.
It will take some time before we see the results of many of these accelerator programs, but a surge in Web3 funds aimed at helping builders and startups is certainly a good sign for the space. Furthermore, DFINITY’s Olympus platform could inspire other companies to create accelerator funds that are hosted on-chain. At Rarity Sniper, we’ll be on the lookout for any updates to the story.