Crypto Grants Foster Innovation Amid Venture Capital Exodus

Alternative financing options, such as grant programs, have grown in popularity as the bear market continues to reduce capital investment -risk in the crypto industry.< /p> Follow up Join us on social networks

As the bear market continues to reduce venture capital investment in the crypto industry, alternative funding options, such as grants, are gaining traction as a way to support the community while enabling the growth of established projects.

According to Blockchain Grants, at least 40 crypto projects are currently offering grants to developers working on Web3 solutions, while data from Cointelegraph Research indicates that the market downturn has left a void in crypto venture capital, leading to a down 30%. funds injected into Web3 projects in the last 12 months.

Grants and venture capital are two different funding mechanisms with distinct objectives and conditions. While grants are often used to support projects that match specific goals and values, venture capital seeks startups with high growth potential and a focus on financial returns.

Adventure influx of capital into the crypto industry. Source: Cointelegraph Research

Yet receiving grants can only benefit projects if the funds are reinvested in work, Cumberland Labs CEO Naveen Agnihotri told Cointelegraph. “Grants can be particularly helpful for budding crypto projects, but only if the funds are put back into work,” Agnihotri noted, adding that venture capital, if not, “can help a founder get their project off the ground with a rather useful style because both parties were encouraged to engage in this way."

Open call for grants

In an effort to hold projects accountable for funds received while fostering innovation, the SingularityNET team has updated its Deep Funding grant program. Following the recent opening of its third tower, the...