KEY POINTS
ChainGPT, an AI-powered Web3 infrastructure, has unveiled the launch of a $1 million grant designed to bolster innovative startups leveraging AI and blockchain technologies.
The initiative, outlined in a press release on March 11, delineates three funding tiers to cater to different developmental stages.
The first tier, labeled “scaling-focused growth grants,” aims to provide financial support to startups in later stages of development. The second tier, “builder grants,” is geared towards kickstarting early-stage innovation. Lastly, “research grants” are dedicated to newly launched projects.
Interested startups can already submit their applications through an online portal. Successful applicants stand to receive grants of up to $50,000, which will be disbursed in USDT along with credits applicable towards ChainGPT’s suite of products.
Beyond financial assistance, ChainGPT is also committed to offering promotional support, technical guidance, and opportunities for partnerships to participants in its grant program.
Several startups have already secured grants under the program. Notable recipients include Cookie3, a Web3 marketing analytics platform; Kryptomon, a popular Web3 game developed by Pink Moon Studios; GT Protocol, a Web3 AI execution protocol facilitating user access to DeFi, CeFi, and NFT markets through a unified conversational AI interface; and AITECH, touted as the world’s first deflationary AI token, functioning as a payment gateway for licensing AI and blockchain solutions.
While this grant program stands out for its exclusive focus on the convergence of AI and blockchain, it is not the only initiative aimed at supporting Web3 startups. Y Combinator, a renowned startup accelerator, recently expressed interest in future investments, particularly in artificial intelligence, the metaverse, and stablecoins.
In October 2023, Walmart and Outlier Ventures’ Web3 Accelerator Program kicked off with five startups, each receiving a $200,000 investment and mentorship, focusing on decentralized solutions for global retail and commerce. Sella Group also made strides in July 2023 by selecting seven finalists for its “Metaverse 4 Finance Accelerator,” dedicated to supporting startups focused on metaverse finance.
