Velas increases blockchain grants program to $100M

Switzerland-based technology company Velas has allocated $100 million to startups building on top of the Velas blockchain, marking a sizable increase from its initial pledge of $5 million earlier this year.  The grants program is designed to support the growth of the Velas ecosystem and expand its capabilities within Web 3.0, a broad umbrella term that describes the next stage in the internet’s evolution. Like the initial $5 million grants program announced in August, the new funding initiative will allocate up to $100,000 per project. While Velas intends to fund a wide range of projects, developers who are creating solutions for DeFi, decentralized exchanges, nonfungible tokens and gaming will be given priority. To apply for the grant, startups must include a business plan, pitch deck, technical specifications for their product, project timeline and an explanation for how their project will benefit the Velas ecosystem. Developers selected for the program will receive networking, marking and technical support from the Velas team. 
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- CoinRado.com