Italian banking company Sella Group has unveiled its latest initiative, the “Metaverse 4 Finance Accelerator,” aimed at providing support to startups focused on metaverse finance.
The acceleration program, led by dpixel, Sella Group’s Venture Incubator, in collaboration with global partner Visa, will span six months and consist of various phases, currently in the business acceleration phase.
To qualify for the program, startups needed to fulfill certain criteria, including having a market-ready prototype within a timeframe of 6 to 10 months, establishing a well-defined core team, and presenting a clear value proposition.
A total of 117 projects from 26 countries worldwide have been nominated to participate, with seven projects making it to the final phase.
Among the selected startups is Crypto Mate, which offers a crypto platform “as a service” enabling SMEs to explore and build crypto services through simple Plug & Play APIs. Dexy, another finalist, is a hybrid neobank that combines the advantages of the crypto and web3 world with traditional banking features. Intraverse, the third finalist, is an open metaverse built on blockchain, emphasizing NFT interoperability integrated as in-game avatars. The remaining finalists include Seed Venture, Stablecomp, Vertigo Exchange, and Vestinda.
The seven finalist projects will now embark on a comprehensive journey, refining their business models, undergoing technical validation, and developing products and solutions.
Out of the seven finalists, five will receive a prize of 100,000€ each. Following this, there will be a “matchmaking” phase that offers the opportunity to integrate the developed innovations into existing industry processes or directly test them in the market.
The launch of accelerator programs to provide support and foster growth within the Web3 landscape is not a new concept. In January, Mastercard introduced the “Mastercard Artist Accelerator,” a Web3-based program aimed at empowering musical artists in the digital realm.
In October 2022, L’Oréal, Meta, and HEC Paris collaborated to establish a startup accelerator with the objective of driving innovation in the metaverse.
