Cronos – a blockchain ecosystem developed by Crypto.com – reportedly disclosed details regarding the release of an accelerator program to accelerate advancements in numerous crypto aspects.

Specifically, the Cronos Accelerator Program – which receives the financial support of $100 million – is reportedly going to provide assistance for initiatives in the seed and pre-seed phases looking for mentorship, funding, and growth across the (DeFi), Web3 and Metaverse sectors and beyond. 

Per the announcement, initiatives that made it to the shortlist for the accelerator program will be matched with compatible mentors.

A few of the major investment partners behind the Cronos Accelerator Program reportedly include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.

“In the current climate, it is more important than ever to put our heads down and start building aggressively.” Cronos managing director Ken Timsit additionally claimed, shone extra light on the program.

Timsit reportedly works towards the target of streamlining the potential of initiatives, via offering end-to-end assistance throughout the project’s operations. 

As included within the scope of this initiative, Cronos’ Web3 startup accelerator division Cronos Labs carries out workshops on a weekly basis, which cover a wide array of aspects related to developing crypto projects.

Aspiring projects will be opened up to opportunities for procuring between $100,000–$300,000 seed investment, apart from having the option for additional grant funding. In addition to mentorship and other marketing initiatives, projects will be able to integrate into Crypto.com’s ecosystem including a DeFi wallet, crypto exchange, and nonfungible token marketplace.