Silicon Valley-based NFX Guild has just announced a partnership with Synereo – the startup developing a decentralized, open-source social network – in creating an ecosystem of decentralized applications (dApps) on top of Synereo’s Blockchain 2.0 platform.
NFX Guild announced the Blockchain 2.0 Program within the Guild, where it will select up to 3 teams that are actively building their dApps using Synereo’s tech stack for the next class of the NFX Guild accelerator program.
To kickstart the program, NFX Guild and Synereo will invite developers to participate in a hackathon, presenting and developing their ideas for Synereo-powered decentralized applications. Winners of the hackathon, as well as handpicked Project 11 laureates, will be invited to apply to the NFX Accelerator Program. Accepted teams will receive $120,000 in investment funds from NFX as well as an AMP grant from Synereo.
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James Currier, Managing Partner, commented: “We have been looking at digital currencies, Blockchain, and the decentralized economy for over a decade. We’ve been looking for a time and a group that was not just cryptonerds, but that was practical, who wanted to build applications, who wanted to make it about the users experience of something great – not just about the technology and the math. The Synereo team has that balanced perspective, and we’re looking for practical, growth oriented founding teams with the same approach to build apps on the Synereo platform.”
Gigi Levy-Weiss, Founding Partner of NFX Guild (and former CEO of 888 Holdings), commented: “We found the Synereo team to have a unique combination of cryptocurrency and modern digital finance understanding alongside a real understanding of developer requirements and the know-how of how to build strong developer tools. We strongly believe this combination puts Synereo in a great position to be the leader in the adoption of blockchain tech into the everyday world.”
NFX Guild is a mentorship-driven startup accelerator founded by tech investors James Currier, Gigi Levy-Weiss, and Stan Chudnovsky. It has financial backers including CRV, Shasta Ventures, and Greylock Partners. The organization focuses on businesses that rely on network effects, and holds two annual programs for startups in Silicon Valley.
Synereo has itself recently graduated from the NFX Guild’s accelerator program. The team says: “NFX Guild shares our vision of a freer and fairer internet and the new economy emerging on it, and endorses Synereo as a major actor in this field. Placing a safe bet on the decentralized paradigm, NFX will invest resources, efforts and time in accelerating the development of an array of applications deployed on top of Synereo, heralding the age of the Decentralized Web.”