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Delphi Labs raises $13.5 million for Web3 project incubation accelerator

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On April 4th, it was announced that Delphi Digital\’s incubation department, Delphi Labs, has completed a $13.5 million financing, with P2P lead investment and participation from Ju

Delphi Labs raises $13.5 million for Web3 project incubation accelerator

On April 4th, it was announced that Delphi Digital’s incubation department, Delphi Labs, has completed a $13.5 million financing, with P2P lead investment and participation from Jump Crypto and others. These funds will be used to establish an accelerator aimed at promoting the growth of the team dedicated to launching the Web3 project. This financing is Delphi’s first attempt to seek external investment. Each team in the accelerator will receive $200000 in funding. The main part of the plan will last for four to six months, and the project team will be introduced to Delphi’s potential investor network at the end of the plan.

Delphi Labs completed a $13.5 million financing and P2P led investment

Introduction

On April 4th, news broke that Delphi Labs, the incubation department of Delphi Digital, has secured $13.5 million in funding for an accelerator program aimed at promoting the growth of Web3 projects. This marks Delphi’s first external investment. The accelerator will last for four to six months, with each team receiving $200,000 in funding. At the end of the program, the project team will be introduced to Delphi’s potential investor network.

Why Delphi is investing in Web3 projects

With the advent of blockchain technology, the possibilities for decentralized applications (dApps) have increased manifold. From peer-to-peer file sharing to decentralized finance (DeFi), these projects are gaining momentum and attracting a lot of investor interest. Delphi Labs aims to tap into this opportunity and foster innovation in the Web3 space. By providing funding and guidance to promising projects, Delphi hopes to create a network of successful products that revolutionize the way we live and interact on the internet.

How the accelerator program works

The accelerator program will provide funding to 10-15 teams working on Web3 projects. Each team will receive $200,000, as well as access to a network of mentors, investors, and experts in various fields. The main part of the program will last for four to six months, during which time the teams will work on developing their products and refining their business models. At the end of the program, the teams will pitch their projects to Delphi’s investor network, with the aim of securing further funding and partnerships.

Who is investing in Delphi Labs

The $13.5 million funding for Delphi Labs was led by P2P investment firm Jump Crypto, with participation from other investors. Jump Crypto is known for its investments in blockchain technology, having previously backed companies such as blockchain infrastructure provider Bison Trails and decentralized oracle platform Chainlink. With this investment in Delphi Labs, Jump Crypto is betting on the potential of Web3 projects and the incubation and acceleration model championed by Delphi.

Conclusion

Delphi Labs’ accelerator program is an exciting development in the Web3 space. By providing funding and guidance to promising projects, Delphi is investing in the future of decentralized applications and contributing to the growth of the overall ecosystem. With the backing of investors such as Jump Crypto, Delphi Labs is poised to make a significant impact in the Web3 world.

FAQs

1. What is Web3?
Web3 refers to the decentralized web, built on blockchain technology. It includes decentralized applications (dApps) that function without intermediaries, utilizing smart contracts to execute transactions and carry out other functions.
2. Why are decentralized applications important?
Decentralized applications offer several benefits compared to traditional, centralized applications. They are more secure, transparent, and can function without intermediaries, allowing for greater user autonomy and control.
3. What is an incubator/accelerator?
An incubator/accelerator is a program that provides funding and support to startups and early-stage companies, helping them to develop their products and business models. Incubators typically offer longer-term support, while accelerators focus on short-term, intensive programs.

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