Web3-focused Beacon launches flagship demo day with 13 crypto startups • TechCrunch


We’re solely within the second week of 2023, however demo days have already begun as founders attempt to preserve momentum alive within the ever-changing crypto market.

Beacon, a web3-focused early-stage accelerator program, launched final yr, and its flagship cohort simply graduated. The groups within the first cohort, referred to as Cohort 0, offered their concepts on Tuesday throughout a demo day, solely coated by TechCrunch.

“For Cohort 0, we spoke with over 1,000 initiatives to finish up at 15 corporations in Cohort 0 with 13 graduating at our Demo Day,” Sandeep Nailwal, core contributor of Beacon and co-founder of Polygon, stated to TechCrunch. “With the present price of purposes for Cohort 1, we’re planning to land at the same 1% acceptance price.”

The three-month program runs twice a yr and accepts about 15 to twenty applicants for its fall and spring cohorts.

“We really feel like Cohort 0 is our MVP of Beacon,” Nailwal stated. “So for this cohort, we hand-picked our favourite groups by taking calls with founders sourced by our networks.”

Mentors embrace Jack Lu, CEO and co-founder of Magic Eden; a handful of enterprise capitalists; Rob Behnke, co-founder of Halborn; Brendan Farmer, co-lead at Polygon Zero; Dan Kim, VP of enterprise growth and itemizing at Coinbase; and Miles Anthony, CEO and co-founder of Decentral Video games, to call a couple of.

For the subsequent cohort, there can be a normal $250,000 funding, with an $8 million post-money valuation from Beacon for every firm in this system, Nailwal famous. In Cohort 0, investments had been finished on a case-by-case foundation because the group was refining its course of, he added.

Beacon is “chain-agnostic,” which suggests many of the groups in Cohort 0 had been constructing cross-chain purposes, Nailwal stated. Nevertheless, Ethereum topped the record for essentially the most groups constructing on that blockchain. Of the 13 corporations, there have been 29 founders throughout 9 nations and 13 cities, Kenzi Wang, core contributor at Beacon and co-founder of Symbolic Capital, stated through the demo day.

The startups targeted on a spread of crypto subsectors, like gaming, infrastructure, decentralized lending and borrowing, and developer tooling, to call a couple of. Nearly the entire startups within the cohort are seed stage, apart from one firm, Group Gaming, at Sequence A.

Listed below are the small print behind Cohort 0’s 13 startups:

Firm title: Arcana

  • What it does: Web3 toolkit for builders
  • Founders: Mayur Relekar, Aravindh Kumar
  • Stage: Seed
  • The pitch: Arcana desires to assist complement the technological stack for builders with instruments to assist construct safe decentralized purposes (dApps). Its core instruments embrace person authentication, storage of information on its decentralized community and entry management. The platform goals to supply builders constructing purposes on “virtually any chain” the power to leverage its companies and instruments.

Firm title: Blinkmoon

  • What it does: Sport growth studio
  • Founders: Hugh Behroozy, Hajeir Mazinani
  • Stage: Seed
  • The pitch: Blinkmoon is constructing an impartial gaming growth studio to concentrate on the rising web3 sector. Previous to this, its group members helped create the visuals for “Guardians of the Galaxy” and “Sport of Thrones,” in addition to labored on gaming franchises like League of Legends: Wild Rift, NBA, the Useless Rising and Rainbow Six, to call a couple of.

Firm title: ChapterX

  • What it does: Web3 occasion expertise
  • Founders: Chase Guo
  • Stage: Seed
  • The pitch: ChapterX is a web3 occasion expertise platform that goals to supply organizers the power to rework their occasions into distinctive experiences. The startup supplies choices to have interaction attendees by both bodily occasions or customizable digital worlds within the metaverse with elements like decentralized autonomous group (DAO) governance or GameFi. Customers also can convert their 2D NFTs into 3D avatars by its re-skin system and uncover new worlds and be part of communities by its community.

Firm title: Colexion

  • What it does: GameFi ecosystem
  • Founders: Abhay Aggarwal
  • Stage: Seed
  • The pitch: Colexion is a card-based GameFi ecosystem that goals to convey Net 2.0 video games into the web3 ecosystem by fantasy-focused content material. Its system, Colexion Core, supplies a bunch of companies like minting, marketplaces, bridges, wallets and extra to assist conventional video games navigate the web3 world. The corporate is concentrated on the Asia-Pacific area and has over 15 million lively customers throughout greater than 10 nations, in keeping with its web site. Colexion is backed by Polygon, Alan Howard, Soar Capital, Symbolic Capital, Firestarter and GSR.

Firm title: Community Gaming

  • What it does: Esports platform
  • Founders: Chris Gonsalves
  • Stage: Sequence A
  • The pitch: Group Gaming goals to be an all-in-one esports competitors platform that provides infrastructure to trade gamers. The platform is backed by Ethereum- and Solana-based blockchain fee applied sciences and supplies gamers, organizers and sport builders instruments to create, facilitate and take part in esports tournaments. It additionally supplies customers the power to monetize their gameplay by finishing quests, a day by day content material engine for earnings and sport discovery.

Firm title: Cubist

  • What it does: Web3 developer instruments and infrastructure
  • Founders: Ann Stefan, Deian Stefan, Riad Wahby, Fraser Brown
  • Stage: Seed
  • The pitch: Cubist is a developer instruments and infrastructure supplier that goals to convey as we speak’s software program engineering practices and safety to web3 builders. Its toolkit focuses on offering safer and safer choices so builders can construct, take a look at and deploy simply throughout multi-chain and cross-chain dApps. Its founders embrace a former fintech COO and laptop science professors from Carnegie Mellon College and UC San Diego. The group members have spent their careers retrofitting safety for real-world programs and have collectively printed over 80 analysis papers on associated subjects like laptop programs, programming languages, safety and cryptography.

Firm title: FastLane

  • What it does: MEV options for Ethereum-based blockchains and rollups
  • Founders: Alex Watts, Jordan Hagan
  • Stage: Seed
  • The pitch: The FastLane protocol focuses on producing income for validators, growing effectiveness for algorithmic merchants and decreasing the stress on community individuals when overwhelmed with redundant transactions with out the necessity to set up or handle customized software program on validating nodes. The protocol goals to scale back transaction spam and enhance the general Ethereum community well being by monetizing propagation bottlenecks within the layer-2 blockchain Polygon and distributing the rewards to validators concerned.

Firm title: Meta Apes

  • What it does: Web3 sport
  • Founders: Taylor Shim, Nicholas Carr
  • Stage: Seed
  • The pitch: Meta Apes is a free-to-play and win-to-earn cell web3 sport constructed on the BNB Utility Sidechain (BAS). Gamers have the power to construct their very own cities and communities whereas competing and exploring others to win the “race to area.” The sport goals to mix conventional gaming parts like massively multiplayer on-line (MMO) methods and web3 parts resembling in-game currencies. The group has labored at locations like Ubisoft, Gameloft, Zynga, AppLovin and Epic.

Firm title: Mystic Moose

  • What it does: Web3 gaming developer
  • Founders: Mike Levine
  • Stage: Seed
  • The pitch: Mystic Moose is a web3 platform, gaming studio and writer that was shaped by a group of gaming veterans who’ve labored at Activision, LucasArts and Digital Arts. Its first sport, Planet Mojo, was constructed on prime of its scalable backend platform Sumatra and is a browser-based server of interconnected video games. Its auto chess sport, Mojo Melee, is presently in alpha playtesting and plans to launch absolutely within the first quarter of this yr on browsers and cell. The studio is backed by Animoca Manufacturers, Republic Crypto and Polygon Studios, amongst others.

Firm title: Nillion

  • What it does: Web3 infrastructure
  • Founders: Alex Web page, Andrew Yeoh, Andrew Masanto
  • Stage: Seed
  • The pitch: Nillion is a web3 infrastructure startup targeted on securing storage, computation and fragmentation of information on the web. “Nillion is a deep expertise infrastructure challenge,” Andrew Yeoh, the corporate’s founding chief advertising and marketing officer, previously told TechCrunch. “Whereas blockchains decentralize finance, Nillion goals to decentralize every part else and the remainder of information.” The founders embrace ex-Uber, Indiegogo and Hedera Hashgraph staff, in addition to executives from Coinbase and Nike. The corporate raised greater than $20 million in December 2022 from over 150 traders in a “acutely aware resolution” to stop concentrated possession, Nillion CEO Alex Web page stated in an announcement.

Firm title: Davos Protocol

  • What it does: Secure asset lending protocol
  • Founders: Varun Satyam, Julian Hayward, Filipe Gonçalves
  • Stage: Seed
  • The pitch: Davos Protocol is house to its steady asset, DAVOS, which is stabilized by its financial coverage that balances yield era and value stability on a weekly foundation by leveraging liquid staking, in keeping with its web site. It supplies customers the power to borrow DAVOS utilizing liquid staking tokens as collateral. Customers also can provide steady asset pairs to supply liquidity, yield farm and earn rewards. The group goals to advertise blockchain expertise in mainstream adoption by incentivizing debtors and stakers by its protocol. Its strategic companions embrace Polygon and Ankr.

Firm title: Timeswap

  • What it does: Decentralized lending and borrowing protocol
  • Founders: Ameeth Devadas, Harshita Singh, Ricsson Ngo
  • Stage: Seed
  • The pitch: Timeswap is a decentralized lending and borrowing platform in addition to an automatic market maker (AMM) protocol powered by Polygon. Its key options embrace versatile rates of interest and collateral components so customers can have the flexibleness to determine their risk-return profile in addition to permitting customers to create any Ethereum-based ERC20 token pool by offering the correct liquidity. Since launching in August 2020, the platform has finished over $4 million of lending, borrowing and liquidity quantity on its protocol with none token incentives, in keeping with a post from August.

Firm title: Ylide

  • What it does: Decentralized protocol for pockets communication
  • Founders: Ignat Shapkin, Kirill Zubkov, Danila Simonov
  • Stage: Seed
  • The pitch: Ylide is a decentralized protocol for wallet-to-wallet communication that permits multichain messaging, information storage into sensible contracts and end-to-end encryption. It additionally has its personal mail consumer in addition to instruments for builders to combine communication options into their initiatives, “as simply as constructing a Lego set,” the group stated.



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