The Boba Network has revealed plans to introduce its Liftoff Accelerator program, which will provide more than $1 million worth of funding and resources to Web3 firms. In partnership with Brinc, this umbrella program seeks to offer extensive support tools for new decentralized finance (DeFi), real-world assets (RWA), gaming, and AI projects.
Image Source: Boba Network
Vision Behind Liftoff Accelerator
Boba Network, which has implemented an optimistic-based multichain layer-2 scaling solution, has created the Liftoff Accelerator to accommodate the increasing demands of Web3 ventures. The program is designed to assist these startups to transition to the Boba Network which comes with reduced charges for transactions, greater computing capability through hybrid computing, and faster withdrawal time from the other blockchains.
Image Source: Liftoff
Brinc, A global leader
Brinc, a global venture acceleration and corporate innovation firm is vital in this drive. Brinc has prior experience funding over 239 companies from over 36 countries which makes it a strong partner for any business. The alliance is designed to look for and nurture high-potential Web3 ventures so they can receive the right tools and strategies to grow their companies successfully.
Image Source: Brinc
Details about the Program
The Liftoff Accelerator program is offered for startups at different stages of their growth process. Funded projects will be awarded $35,000, technical assistance, and business advancement services. Furthermore, participants will have permanent access to the Boba Network, ongoing support, and massive exposure across Boba and Brinc’s communities and media channels.
The program spans over 10 weeks and is fully virtual, with two workshops per week, engineering help from Boba Network, weekly check-ins with the founders’ mentors, help with investors and partners, and open office hours weekly. This structure also means that there is constant support within the whole process of a startup.
Liftoff Accelerator targets startups in four key areas
DeFi is an abbreviation for Decentralized Finance – Projects that provide financial services on Blockchain without the involvement of a centralized authority and with the help of smart contracts. Real World Assets (RWA) is an Initiative that turns physical or intangible assets like property or stocks more liquid and accessible. Gaming claims Video games based on Blockchain that include Decentralized assets that are owned and can be traded. Artificial Intelligence for Projects where Projects make use of artificial intelligence to improve data processing, decision-making, and user engagement in decentralized applications or dApps.
Partnerships and Impact
The Liftoff Accelerator also has an impressive list of 100 Web3 advisors and prominent investors from MENA, North America, and Southeast Asia on board. Collaborations with leaders of the industry like Animoca Brands, Bixin Ventures, Ceras, Cointelegraph, DMCC, Enjinstarter, Enya Labs, and Gate. io, Genesis Capital, Ghaf Capital Partners, Gotbit, Mulana Capital, and The Crypto Times will strengthen the support system of the program even more.
The Liftoff Accelerator shows the commitment to the development of Web3, and its launch is a strong step forward. In this way, Boba Network and Brinc are not only investing in the sectors that are important to the world, such as DeFi, RWAs, gaming, and AI but also strengthening Dubai’s status as a global technology pioneer by supporting the development of startups.
Conclusion
The Boba Liftoff Accelerator program is going to be a significant addition to Web3 as it provides startups with tools that can help them grow. With more than $1 million in funding, an extensive range of services, and a vast pool of consultants and partners, the program provides a good chance for Web3 startups to grow their initiatives and help develop the decentralized sector.
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