Web3 Technology Speeds Up Mainstream Acceptance and Institutional Investment with a Fresh $5M Financial Backing
Alchemy, a leading platform for developers building on Ethereum and other blockchains, has announced the launch of the "Everyone Onchain Fund". This new initiative aims to support early-stage blockchain startups and foster wider adoption of decentralized technologies.
The fund is initially available for projects based on the OP Stack and Arbitrum Orbit ecosystems, with a focus on Web3 data and analytics, security, DeFi, Layer 3, zero-knowledge proofs, and wallet technologies. Projects receiving support from the fund will also get Alchemy's smart wallet integration for free, which could potentially save them up to $40k in infrastructure costs.
The fund targets developers building on Alchemy Rollups and Account Kit, and teams will receive up to $10,000 in gas credits and $20,000 in compute credits. In addition, the fund provides startup resources for rollup deployment and user onboarding.
Nikil Viswanathan, co-founder and CEO of Alchemy, commented on the announcement, stating that the fund is a direct response to the ecosystem's momentum. "We've seen incredible growth and innovation in the Web3 space, and we want to help support the builders who are driving this momentum," Viswanathan said.
Steven Smith, VP of Protocol and Applied Research at Tools for Humanity, has also commented on the support. Tools for Humanity is a contributor to World Network, one of the early adopters of Alchemy's integrated solutions. Smith believes they have already accomplished this goal and are excited to continue innovating together. He expressed that he wants the relationship between Alchemy and World Chain to serve as a model for industry support.
The announcement cites examples of Polymarket's breakthrough and World's global reach as evidence of the ecosystem's momentum. The fund offers enterprise-grade rollup infrastructure, making it an attractive proposition for startups looking to scale their projects.
There is excitement from both parties to continue innovating together. The integration eliminates common friction points such as the need for seed phrases and external wallet pop-ups, making it easier for developers to build and deploy decentralized applications.
The "Everyone Onchain Fund" is part of Alchemy's broader mission to accelerate Web3 mainstream and institutional adoption. Alchemy Ventures, part of Alchemy, is known for investing in early-stage blockchain startups during pre-seed, seed, and Series A rounds with a focus on scaling Web3 and infrastructure.
With the launch of the "Everyone Onchain Fund", Alchemy is positioned to be a growth and innovation catalyst for Web3, helping to boost institutional participation and mainstream adoption of decentralized technologies.
- The "Everyone Onchain Fund" launched by Alchemy, aimed at early-stage blockchain startups, will allocate resources to projects focusing on Web3 data and analytics, security, DeFi, Layer 3, zero-knowledge proofs, and wallet technologies.
- Alchemy's new initiative, the "Everyone Onchain Fund", provides startups looking to scale their projects with enterprise-grade rollup infrastructure, making it an attractive proposition in the realm of finance and investing in technology.
- Nikil Viswanathan, co-founder and CEO of Alchemy, believes that the fund is a response to the ecosystem's momentum in the news, stating that they want to support the builders driving innovation in the Web3 space.
