Details of successful applicants to the Web3 Foundation’s (W3F) Decentralized Futures (DF) Grant Program have been revealed. Projects from a wide range of decentralized use cases applied for funding through the program, with blockchain-related solutions in deployment tooling, DeFisocial media, gaming, and recruitment among those case studies identified by the reviewers with the potential to propel the Polkadot network forward. Nearly $30 million in funding has been committed to help these selected teams develop financially sustainable ventures.
What: The main objective of the DF program is to expand the Polkadot network by adding self-sustaining projects that aim to generate profit, as well as for non-profit ventures that have a strategy to secure ongoing financing through Polkadot’s on-chain treasury system beyond 2024. The funding is designed to support high-quality projects to become financially self-sustainable, driving growth and adoption within the Polkadot ecosystem. Through the Decentralized Futures grant system, recipients have an opportunity to drive innovation and growth in the Web3 space.
Who: Over 250 projects from inside and outside the Polkadot ecosystem applied for funding under the first wave of the DF program. As of early September, more than 50 new projects were successfully identified and have signed or are in the process of signing – such as Opengov.watch for transparent governance, Moonsong Labs for decentralized storage, and Papermoon for educational content.
Of the projects signed:
- 56% focus on technology, innovating with or contributing to the technical infrastructure and tools that drive the Web3 ecosystem forward.
- 26% are dedicated to business development, helping foster the growth and scalability of decentralized solutions.
- 13% focus on marketing, with teams working on raising awareness and adoption of Web3 technologies.
- 4% of projects aim to strengthen community efforts, helping build a more engaged and informed ecosystem.
Why: Speaking on this wave of DF program grant recipients, Seraya Takahashi, Grants Evaluator at the Web3 Foundation, said: “Having received over 250 applications, the level of interest far exceeded our expectations – and is an important reminder of how rapidly the Web3 funding landscape continues to evolve. The interest from within and outside the Polkadot ecosystem demonstrates why there’s a need for solid support structures for Web3 industry collaboration. The Decentralized Futures Grant Program has laid the groundwork for successful collaboration, and we are using our insights from this successful wave to ensure that future initiatives build from here and continue to strengthen our decentralized future.”
For more information about the program and the projects it supports, visit futures.web3.foundation.