As the first in what will be an ongoing series in 2024, this accelerator program is focused on startup innovations seeking to unlock the $2.2 trillion DePIN, AI, and real-world value in Web3.
SAN FRANCISCO, Dec. 14, 2023 /PRNewswire-PRWeb/ -- FutureMoney Group, a Web3 investment firm, launches a $5M Decentralized Physical Infrastructure Network (DePIN) accelerator program in partnership with IoTeX Foundation, the organization behind IoTeX, the leading modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains. As the first in what will be an ongoing series in 2024, this accelerator program is focused on startup innovations seeking to unlock the $2.2 trillion potential in DePIN, AI, and real-world value in Web3.
FutureMoney Group is particularly interested in the disruptive potential of DePIN given the ubiquity of data across devices that are ripe for verification via blockchain to create new funnels of value for data suppliers.
EO Hao, Founding Partner of FutureMoney Group, shared, "We're very excited to be launching a DePIN-focused accelerator to support some of the most innovative entrepreneurs with the leading DePIN infrastructure provider IoTeX. We are especially interested in DePIN projects that accelerate geographic diversity, environmental responsiveness, and democratizing access to scarce data resources."
Jing Sun, Co-Founder and Head of Investment of IoTeX, said "There is a massive untapped opportunity for innovative startups to capitalize on the wave of momentum in decentralizing physical infrastructure and bring verified, real-world data on-chain. We are excited to be a part of this first-of-its-kind DePIN accelerator program in what will be an ongoing series to discover and empower forward thinking entrepreneurs."
The virtual accelerator is open for applications beginning December 24th 2023 through January 14th 2024, with the first Demo Day being hosted at the end of February, 2024. This 6-week virtual acceleration program, being led by FutureMoney Group and the IoTeX Foundation, is focused on providing the best-in-class network and resources for founders. Participants in the accelerator program will receive support on how to build and launch their DePIN project, with specific areas of focus on mentorship, workshops in DePIN flywheel, tokenomics, pitching and funding support, tech workshops, dev modular building blocks, go-to-market support, liquidity boosting, and community growth.
The $5M USD contributed to the accelerator program will be distributed in $50K increments per project, with additional funding available for selected projects.
To learn more and sign up for the accelerator program, please visit https://forms.gle/yKWyhCD73HypUiSN9
For media inquiries, please contact Phil LeRoy at (310) 260-7901 or Phil(at)MelrosePR(dot)com
About FutureMoney Group
FutureMoney Group has been investing in frontier technologies in the digital economy since 2017. The main thesis is that the future of money is a decentralized database that reshapes the real economy. The firm has been managing different funds across multiple strategies with current AUM of 50 million USD, with focused areas such as DePIN and creator economy.
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About IoTeX
IoTeX is a modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains. It empowers developers to integrate Web3 into everyday life through innovations in connected smart vehicles, city mapping, green energy initiatives, super-charged fitness platforms, environmental data tracking, proof-of-presence applications, proof of humanity, and more. With the launch of W3bstream, the world's first off-chain compute framework for smart devices and real-world data, IoTeX has become the leading Decentralized Physical Infrastructure Network (DePIN) technology provider, enabling vertical innovations for machines, humans, businesses, and dApps to interact with trust and privacy. Backed by a global team of 60+ research scientists and engineers, IoTeX combines its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware to connect billions of smart devices, machines and sensors and dApps across the physical and digital world.
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Media Contact
Phil LeRoy, Melrose PR, (310) 260-7901, [email protected], https://www.melrosepr.com/
SOURCE FutureMoney Group
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