In recent years, the web3 area has seen extraordinary and relentless expansion. Whether it’s cryptocurrencies, the Metaverse, non-fungible Tokens (NFTs), or even Decentralized Finance (DeFi), the sector is always expanding, and those that understand how to tap into it effectively may greatly accelerate development.
LongHash Ventures is dedicated to doing just that, and it has taken the next big step toward that goal.
Terra has joined the LongHash Ventures team
LongHash Ventures stated today that it has entered into a collaboration with Terra ecosystem’s parent business, Terraform Labs, in a news release.
The Terra arm of the LongHash Accelerator, which has previously collaborated with blockchains such as Polkadot, Filecoin, and Algorand, will be launched as a result of this cooperation, which will be the fund’s fourth investment in the space in four years.
In accordance with the Accelerator program, DeFi protocols that have shown promise are invested in and advanced via LongHash’s network of web3 thought leaders. LongHash Ventures has previously advanced protocols such as Mintable, Acala, Balancer, Zapper, and a slew of others via its accelerator program.
With Terra’s participation in the Accelerator program, a total of ten projects will be accepted into the program, each of which will receive up to $500k in funding and guidance in six key areas of development, including product strategy and design, tokenomics, governance, and technology mentorship, community building, and fundraising.
Do Kwon, Co-Founder and CEO of Terraform Labs, expressed his thoughts on the relationship in the following way:It has a proven track record as one of the most effective programs for advancing Web3 companies, and it is one of the most successful programs in the world.” A simplified road for builders to explore daring ideas, complete with first-class tools, workshops, and advice – further propelling an unprecedented surge of creativity across the Terra ecosystem – is made possible with the launch of the new Terra cohort.
In addition to receiving assistance from industry professionals, participants will have the ability to interact with one another during the course of the program. In addition, these developers will get the chance to present their Dapp to investors at the conclusion of the program, on a day known as ‘Demo Day.’