ConsenSys grants $175,000 to Several Ethereum-based projects
|- Projects funded must be integral to the Ethereum ecosystem but not necessarily profitable.
- The $175,000 goes towards funding teams with unique ideas.
The Venture studio of Ethereum ConsenSy ConsenSy has announced a $175,000 grant to several open-source projects within the Ethereum network. According to the announcement, Lighthouse a forward-looking software client, Tellor an off-chain data running on the Oracle network and Allice, a decentralized mobile app building platform among others will benefit from the grant.
A comment by ConsenSy Head of Experiential Marketing Yadira Blocker said:
“In Wave 1, we saw a lot of applications but they weren’t super strong. In Wave 2, we started to see more credible teams and more unique ideas come to the table.”
ConsenSys was started to fund and support under-resourced areas within the development space. The programs funded must demonstrate their integral contribution to the Ethereum ecosystem. However, they do not really have to be profitable.
The Marketing Director of ConsenSys Daniela Osorio said:
“The way we find really great projects is we talk to VCs and we ask, ‘What are some great teams you’ve come across that you can’t actually justify funding?”
Osorio adds:
“It comes down to this theory of the ‘tragedy of the commons.’ We all need certain pieces to work for everyone else to build something potentially more profitable on top.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.