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Starknet Foundation Launches $5 Million Seed Grants Program to Boost Final-Stage Blockchain Projects

The Starknet Foundation recently unveiled a significant $5 million Seed Grants Program, designated in USDC, to propel the development of nascent projects on its network.

This initiative is set to provide vital financial backing to at least 200 emerging teams, each receiving $25,000.

The focus is on aiding projects in their final stages, helping them overcome the “last mile” challenge to successfully launch on Starknet.

Starknet operates as an Ethereum layer-2 scaling solution employing zero-knowledge rollup technology, which has been gaining traction among developers.

Diego Oliva, CEO of the Starknet Foundation, emphasized the rationale behind this substantial financial commitment.

He explained, “We’ve been listening carefully to devs [developers] and hearing about the main challenges they face.

“We are talking about people with amazing creativity and vision who need support with that ever-hard ‘last mile’ to get a project over the line and into production.

“So we responded with this program, which is intended, very directly and with minimal bureaucracy, to address this.”

This quote highlights the foundation’s strategic approach to foster a robust development environment and streamline project completion.

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The program targets Starknet-associated projects that have already developed a minimum viable product (MVP) or proof-of-concept, which are considered ready for the next leap.

Oliva further stated, “In general, we want to reduce the barriers and burdens young teams face when considering starting a project.

We’re trying to clear the path to innovation,” reflecting the foundation’s commitment to reducing entry barriers for newcomers and catalyzing innovation within the blockchain ecosystem.

The rising interest in Starknet is evidenced by the growing number of developers engaging with its ecosystem.

According to Electric Capital’s 2023 Developer Report, the total monthly developers associated with Starknet surged to over 22,400 by December 2023, marking an increase of more than 113% since December 2020.

Blockchain gaming, in particular, stands out as a significant area of growth and application within the Starknet and broader blockchain environment.

Oliva commented on the exciting developments in this sector, stating, “Starknet is leading the way in fully on-chain gaming.

Key projects in this area include Realms, Influence, and Dojo.

This sector is growing fast, with more teams building on Starknet using the Dojo standard.

Gaming is important not just for gamers but for everyone because it’s demanding on the network, testing its capabilities and demonstrating its power.”

According to DappRadar, blockchain gaming accounts for 35% of the total decentralized application activity, attracting over 2.2 million daily unique active wallets, underscoring the substantial impact and potential of gaming on blockchain platforms.

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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.

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