CHINA, 29/04/2024 (Asia News Channels) - The Switzerland-based non-profit DFINITY Foundation, a prominent contributor to the Internet Computer Blockchain (ICP), has announced the launch of the Olympus accelerator platform. This platform marks a significant step as the first on-chain, decentralized global accelerator dedicated to fostering the development and adoption of Web3 technologies across multiple ecosystems. Olympus aims to organize and initiate their own accelerator programs globally, representing a groundbreaking approach in the field.
The initial operation of Olympus is backed by an allocation of $20 million from the ICP Asia Alliance, aimed at nurturing the Web3 and artificial intelligence ecosystems in Asia. Future plans include expanding funding through proposals to establish alliances in the EU, Middle East, North Africa, Africa, and the Americas, thus bolstering ICP's global influence.
By the end of 2024, Olympus is set to transition into a decentralized autonomous organization (DAO). To ensure sustainability and independence from grants, future phases will be funded through Token Generation Events (TGE) followed by community fundraising. This structure allows all stakeholders as token holders to benefit directly from the platform's success.
Olympus is designed to support the launch of a new wave of Web3 products by providing a centralized and on-chain platform that facilitates funding, crowdfunding, venture capital, and referrals, thus ensuring open and sustainable project acceleration. The platform serves as a conduit within the ecosystem, screening top projects from over 40 countries globally. These projects can join a distributed network of startup accelerators, raise funds, tap into talent, and interact across various communities and ecosystems.
Founder and Chief Scientist of DFINITY, Dominic Williams, stated, "Olympus accelerator platform fosters decentralization, innovation, and entrepreneurship. We are excited to see the next generation of projects grow on the Internet Computer and other ecosystems through Olympus. By creating a global platform based on Web3, we bring together top talent, projects, investors, and mentors in a trustless marketplace, providing equal opportunities and access to all eligible projects. Unlike traditional accelerators, which are permissioned and isolated, Olympus offers a new model of inclusivity and unlimited integration without permissions."
The platform has garnered support from several partners, including Hong Kong-based blockchain incubator and investment firm Web3Labs. This strategic partnership aims to promote and drive blockchain innovation in Asia through the recently established ICP Asia Alliance. The first batch of multiple Web3 startup accelerator programs, operated by ICP Hubs and partner Web3Labs, is expected to launch through Olympus.
-- ASIA NEWS CHANNELS