On Dec. 4, the Fantom Foundation announced the launch of a Sonic Labs startup accelerator program. It will foster innovation for Fantom’s new Sonic technology stack. This greatly empowers the next generation of web3 founders.
Source: Press release at https://www.prnewswire.com/news-releases/fantom-foundation-launches-sonic-labs-accelerator-program-with-andre-cronje-as-mentor-302004218.html
Applicants may apply to be a part of Sonic Labs. They will get a share of 1,000,000 FTM in grant funding. In addition, applicants receive exclusive fundraising support if it aligns with the network of venture funds. They will receive go-to-market support to assist in market penetration.
Prospective applicants get marketing support through Fantom Foundation events and socials.
Developers may start building their projects on Sonic beginning Friday, December 15, 2023.
The Foundation is selecting five projects that will join Sonic Labs. They will get grants from a pool of 1 million FTM (worth approximately 294,000 USD). Mentorship support includes Director Andre Cronje.
Fantom Foundation CEO Michael Kong said he wants the program to demonstrate the organization’s dedication to next-generation web3 entrepreneurs and innovators.
FTM rose from 0.3262 on Dec. 3 to trade recently at 0.41. It is up sharply from the teens but still below the 2023 peak of over 0.60.
By attracting applicants to the project, FTM’s prospects will improve. That would increase FTM prices.
