FutureMoney Group Launches $5M DePIN Accelerator Program with IoTeX Foundation
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.
We are thrilled to announce a groundbreaking partnership with FutureMoney Group to launch a $5 million Decentralized Physical Infrastructure Network (DePIN) accelerator program, the world’s first accelerator laser-focused on DePIN. This initiative marks the beginning of a series of accelerator programs planned for 2024, aimed at fostering innovative Web3 startups in the realms of DePIN, AI, and unlocking real-world value – collectively valued at $2.2 trillion.
As a leading modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains, IoTeX's commitment has always been towards bridging the gap between the physical and digital worlds. This partnership with FutureMoney Group, a renowned Web3 investment firm, underscores our dedication to supporting the next generation of entrepreneurs who are exploring the massive potential of DePIN.
Jing Sun, Co-Founder and Head of Investment at IoTeX, says:
“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.”
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."
About the Program
The program targets ambitious entrepreneurs tackling the vast potential of DePIN, from leveraging AI to monetize real-world data to democratizing access to scarce resources.
This virtual accelerator, accepting applications from December 24, 2023, through January 14, 2024, culminates in its first Demo Day at the end of February 2024. Over a 6-week period, FutureMoney Group and the IoTeX Foundation will lead an intensive program providing exceptional networking opportunities, resources, and mentorship to founders. Key focus areas include DePIN flywheel mechanics, tokenomics, effective pitching and fundraising strategies, technical workshops, modular development tools, go-to-market strategies, liquidity enhancement, and community engagement.
A total of $5 million USD will be allocated to the program, with each selected project receiving an initial $50K investment and potential for additional funding. This initiative not only signifies our commitment to fostering innovation but also reflects our belief in the transformative power of DePIN and Web3 technologies.
To apply for the inaugural Cohort of the DePIN Accelerator Program, visit https://forms.gle/yKWyhCD73HypUiSN9.
Nurturing DePIN's Roots, Shaping its Future
IoTeX is not simply building cutting-edge tech; it is meticulously cultivating a thriving and sustainable DePIN ecosystem. The DePIN Accelerator Program joins a range of initiatives to nurture emerging startups across all stages of development.
IoTeX’s W3bstream is a first-of-its-kind, chain-agnostic, decentralized off-chain compute protocol, using innovative zero-knowledge proofs and a general-purpose zkVM to deliver verifiable results. W3bstream is an essential piece of middleware that accelerates go-to-market times for DePIN projects.
Recognizing the critical role of financial stability in early-stage ventures, IoTeX established the DePIN Liquidity Hub. This innovative platform provides nascent projects with access to crucial liquidity resources, enabling them to focus on development and innovation without financial constraints.
DePINscan, IoTeX's data aggregation and visualization tool, serves as a valuable resource for the DePIN community. By providing comprehensive data analysis and visualization, DePINscan empowers projects to identify market trends, optimize strategies, and leverage collective insights for growth.
Our R3AL WORLD events are curated networking hubs designed to foster collaboration and strategic partnerships within the DePIN ecosystem. These events connect promising DePIN projects with investors, mentors, and potential collaborators, creating a fertile ground for innovation and synergistic growth.
We are cultivating a supportive environment where DePIN projects can flourish together. This collaborative spirit paves the way for a thriving DePIN landscape, where everyone reaps the rewards of a data-powered future.
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.
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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