Nervos Intends to Spur Blockchain Development With New Incubator
Public blockchain network Nervos has launched a virtual incubator for early-stage startups developing decentralized applications (dapps).
Named CK Labs, the incubator will finance startups growing their dapps on Nervos’ platform and include the products to significant crypto investors to bring products to market. The firm believes the incubator can help further improve its two-layer blockchain platform, too.
CK Labs comes a few months after the open-source network vowed to grant $30 million in grants to development teams that help Nervos enhance its layer one infrastructure.
“There are still many more infrastructure improvements to come, but the launch of CK Labs marks the next phase of Nervos as we start expanding the network’s utility with dapps and Layer 2 solutions,” Kevin Wang, co-founderr of Nervos, said in a statement.
The firm will originally designate $5 million to assist the startups in bringing their products to market while giving them access to significant crypto venture capital firms, including Multicoin Capital, Polychain Capital, Dragonfly Capital, and 1confirmation.
According to Nervos, any startup with a current minimum viable product could apply for, and possibly receive, up to $100,000 in equity-free capital plus join a four-month program intended to help the teams get a more profound understanding of the Nervos’ infrastructure and the resources required to launch or scale products on the network.
Established in 2018, the San Francisco-based Nervos has accumulated over $100 million. It secured a $28 million Series A funding directed by Polychain and Sequoia China in July 2018 and a $72 million token sale in November. Its two-layer open network strives to have as high a level of security as the Bitcoin network while improving scalability by a side chain.
Meet the new boss
Ben Morris will head CK Labs. Morris originates from Status, an Ethereum-based messaging platform where he managed its incubator program. He directed investments into Matrix, Pixura, and LeapDAO; three startups concentrated on developing the scalability of Ethereum-based networks.
The firm stated applications for the first batch of CK Labs are now being received. The program will operate numerous times every year with two to four teams each to assure they get personalized support.
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