Alchemy, a blockchain developer platform, raised $200 million in a funding round back in February of this year. This valued the company at around $10.2 billion. They have now announced the launch of a new $25 million grant program to support web3 gaming developers and startups.
The fund plans to issue the grants out of pocket using the recent capital they raised in February. Projects can apply for up to a maximum of $50,000 in funding each. Alchemy stated that they hope to fund projects dedicated to increasing the utility of NFTs in gaming and making DeFi more accessible for web2 generations to shift to web3.
Applications for the funds open this coming Monday, and funds will apparently be allocated around mid-July.
Paul Almasi, Alchemy’s Head of Ecosystem Development, stated: “We believe as ecosystem builders, it’s our responsibility to help everyone get excited about the new technology, but also to bring new developers within the ecosystem even during the market downturn.”
