ConsenSys to grant $175,000 to seven promising Ethereum projects

As per CoinDesk, ConsenSys is giving away $175,000 in grants to seven Ethereum-based projects. These projects include Lighthouse, Tellor and Alice, among others. ConsenSys Head of Experiential Marketing, Yadira Blocker, said about the grant recipients: 

“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.”

Over 150 projects have applied for the ConsenSys grants program since its launch in February 2019. Of these, 15 have received up to $330,000 in funding. Since last month, the third wave of ConsenSys grants is also open for applications with $220,000 worth of funding up for grabs.

ConsenSys marketing director Daniela Osorio emphasized that the main aim of the grants program is to support the less glamorous areas of development that may not be profitable but are still critical to the functioning of the Ethereum ecosystem.

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?”

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.”