Asia’s leading Web3 Accelerator and venture fund, LongHash Ventures, is expanding its reach. The outfit will present a new LongHashX Accelerator Cohort through a partnership with cross-chain Web3 communication network Axelar. It marks a crucial step toward a multi-chain approach to Web3 building.
LongHash Ventures Takes Another Big Step
Industry enthusiasts are familiar with LongHash Ventures, thanks to its solid track record of Accelerator cohorts. Helping startups and developers turn their ideas into viable products or services is a valuable service. Moreover, the outfit has tapped various key industry verticals, including decentralized finance, and now aims to do the same for Web3. More specifically, it will receive the help of Axelar to launch a brand new cohort of innovative projects.
The partnership between LongHash Ventures and Axelar will highlight the potential of multi-chain solutions. More specifically, LongHash has always focused on accelerating Web3 projects with multi-chain utility. Axelar, as a cross-chain communication network, supports nearly two dozen blockchain ecosystems. With that infrastructure, dApp users can interact with a multitude of assets and applications on supported networks with one click.
LongHash Ventures CEO and Managing Partner Emma Cui adds:
“We are very excited to partner with the Axelar Foundation to launch the first global accelerator of the Axelar network. Axelar provides the infrastructure required to enable a secure multi-chain future, which aligns with LongHash Ventures’ overarching thesis. We are particularly excited to invest in and accelerate projects that will think about modular ways to use various ecosystems and connect to Axelar to bring out the best of each chain, and bring us closer to a multi-chain world.”
Projects connecting to the Axelar ecosystem and leveraging the General Message Passing (GMP) feature will be eligible for backing by LongHash Ventures. What makes GMP exciting is how it lets developers connect to call any function on any dApp on any chain. It facilitates the building of next-generation services, composing assets cross-chain in a one-click experience. In addition, there is a special focus on modular chain usage, ranging from storage to token liquidity, privacy, and off-chain computing.
Axelar Finds A Robust Partner
The decision to work with LongHash Ventures was straightforward for the Axelar team. LongHash’s ongoing accelerator programs have given birth to some of the blockchain industry’s most prominent protocols and services. In addition, it has a solid network across Asia Pacific to provide mentorship and investor relations. The LongHashX Accelerator Cohort 10 will feature workshops, and multi-pronged fireside chats, spanning Tokenomics, Governance, Community Building, etc.
Axelar Foundation Co-founder Sergey Gorbunos states:
“The success of the Axelar Grant Program has demonstrated global interest in building chain-agnostic applications. We’ve seen both developers and investors supporting this movement to help onboard the next hundreds of millions of users and simplify multi-chain interactions. Axel’s unequaled security and functionality has made its ecosystem a funnel for forward-thinking Web3 dApp teams. We’re looking forward to accelerating those teams’ progress with LongHash Ventures as an experienced and well-connected global partner.”
Applications for the LongHashX Accelerator Cohort 10 are open until November 11th, 2022. A total of 10 projects will be accepted. Selected participants receive 100,000 USD of upfront investment from LongHashX and support to raise additional capital.
Moreover, teams gain access to in-house venture builders conducting problem-solving sessions. Projects still in the R&D stage are welcome to apply and may be considered for Axelar’s grants programs.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.