Fantom Foundation and Andre Cronje are seeking to boost the development of decentralized applications through a new accelerator, Sonic Labs, with a view to launching the Fantom Sonic mainnet this spring 2024.
The Fantom Foundation, the team behind the development of the Fantom blockchain, today announced the launch of its startup accelerator program, Sonic Labs. This accelerator seeks to foster innovation within Fantom’s new Sonic technology stack and empower the next generation of Web3 founders with vital resources, guidance, and support.
The Sonic Labs program is open to all developers building new applications using Fantom technology and across all blockchain sectors, such as game fi, DeFi, NFT, etc. The competition is judged by Fantom Foundation executives and venture capital partners. Applications open today and the competition runs until February 6, 2024.
Fantom Foundation: driving the development of the Fantom network
Through this acceleration program, the Foundation will select up to five projects to be incubated by Sonic Labs. They will then be eligible to receive grants from a fund of 1.000.000 FTM (approximately 294.000 USD) intended to finance the development of each project's MVP (Minimum Viable Product).
Selected projects will receive technical support, co-marketing, and mentorship from prominent Fantom leaders, including Director Andre Cronje. Additionally, selected developers will have the opportunity to pitch their projects to partner VCs and the Foundation for additional investment. These selected projects will launch alongside the Fantom Sonic mainnet, which is scheduled to launch in spring 2024.
Commenting on the announcement, Michael Kong, Executive Director of the Fantom Foundation, commented:
We are excited to launch the Sonic Labs program to help developers build innovative applications that leverage the power of Fantom technology. With the guidance and support of Andre Cronje and other experienced mentors, program participants will have the tools and knowledge they need to succeed.
Recall that Andre Cronje is a world-renowned blockchain developer who is known for his work on projects such as Yearn Finance, SushiSwap, and Keep3rV1. He is an advocate for blockchain innovation and is excited to help developers build new and exciting Web3 applications.
Commenting on the announcement, Andre Cronje added:
I am excited to work with the Fantom Foundation to support the next generation of web3 founders. Fantom is a scalable and secure blockchain platform that is ideal for innovation. I am looking forward to seeing what the Sonic Labs program participants will create.
Great community benefit and impact
Participants in the Fantom Foundation’s Sonic Labs program will receive a number of benefits, including:
- Accommodation in a coworking space in Amsterdam
- Access to experienced mentors, including Andre Cronje
- Financing for the development of your projects
- Assistance for joining the Fantom community
- For more information about the Sonic Labs program, please visit the program webpage.
In this way, the Sonic Labs program seeks to realize the potential to have a significant impact on the development of the blockchain industry. By providing developers with the resources and guidance they need, the program can help create exciting new web3 applications that leverage the power of Fantom technology.
The program can also help strengthen the Fantom community. By bringing together developers from around the world, the program can help build a more diverse and collaborative community.
Ultimately, the Sonic Labs program has the potential to help make Fantom a leading blockchain platform for innovation.
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