Metaverse Post reports that MultiversX is rolling out a $1.5 million grant initiative focusing on artificial intelligence to boost ecosystem development and growth.
In Brief
In an effort to stimulate innovation among developers and teams creating in-demand products, the MultiversX Foundation has introduced the Growth Games, a yearly grant initiative totaling $1.5 million.
The organization behind this The MultiversX Foundation, known for its decentralized blockchain network, has announced the launch of the Growth Games—a $1.5 million yearly grant program aimed at sparking innovation among teams creating solutions that meet the current market landscape.
The Growth Games initiative offers more than just financial support; it aims to deliver a comprehensive framework that empowers developers, innovators, and creators with the necessary mentorship, resources, and community backing to advance their projects to market readiness.
Funding for the initiative is strategically allocated across three key phases: development, acceleration, and launch. For development, an annual budget of $750,000 is earmarked to draw in fresh talent and teams from outside the MultiversX realm. Utilizing a Request for Proposal (RFP) approach, it focuses on projects that enhance infrastructure, develop essential tools, and create meaningful applications to fill existing gaps in the MultiversX ecosystem.
During the acceleration phase, $250,000 will help active teams within the ecosystem broaden their operations, engage the community effectively, and boost adoption and activity within the blockchain.
In the launch phase, done in collaboration with xLaunchpad, funding will support five groundbreaking projects, with each team potentially receiving up to $100,000. In addition, they will benefit from mentorship, strategic insight, marketing assistance, and community support to thrive in a competitive landscape.
To ensure transparency and accountability, the Growth Games initiative adopts a milestone-based funding structure along with consistent progress evaluations. With a strong emphasis on AI-enhanced advancements, this program aims to act as a catalyst for widespread online adoption and create significant solutions that merge blockchain technology with AI seamlessly.
MultiversX has reached a significant milestone, achieving a total of over 6.5 million accounts.
MultiversX This platform specializes in smart contract technology, engineered to support a robust ecosystem of decentralized applications (dApps) and cryptocurrencies. It achieves this by implementing adaptive state sharding, a complex technique that divides blockchain resources effectively to manage increasing transaction loads and varied application needs. Furthermore, it utilizes a secure Proof-of-Stake (PoS) consensus mechanism to guarantee both energy efficiency and security within the network.
Recently, MultiversX shared impressive performance metrics, boasting over 6.5 million total accounts, 2.4 million daily active users (DAUs), and 3.3 million transactions processed, showcasing its growing user adoption and operational efficiency. scale .
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