The program, known as the Fuse Web3 Business Grants, is a multi-million dollar fund designed to finance projects that enhance the utility of non-custodial wallets, decentralized finance (DeFi), and non-fungible tokens (NFTs).
The initiative is poised to propel Web3 innovation and mainstream adoption, aiming to simplify the launch of non-custodial consumer fintech apps for businesses.
Fuse Network is known for providing a business and consumer-friendly blockchain ecosystem for the mainstream adoption of Web3 payments.
The project empowers businesses to design and deploy Web3 payments on their applications without requiring custodial solutions.
It offers low-cost Web3 payments with its public blockchain ecosystem and is EVM-compatible, providing cost-effective and fast transactions with a high-performance user experience.
The Fuse Web3 Business Grants program provides funding, mentorship, and tech support to accelerate the journey of blockchain startups.
According to Fuse, eligible businesses are those establishing consumer clubs and loyalty programs in Web3 communities, Fintechs implementing non-custodial mobile solutions, CEXs seeking a non-custodial wallet solution, Web3 startups requiring an EMV-compatible network, apps aiming to build branded stablecoins, and local payment solutions looking to expand globally.
Some of the benefits include access to technical mentorship from Fuse’s development team, marketing support, and more.
It noted that the program does not support NFT marketing budgets, substitutes for VC funding, or free money requests.
Funding in Web3 is crucial for various aspects, including innovation, talent acquisition, user adoption, infrastructure stability, research, community engagement, and security measures.
It facilitates the development of decentralized technologies, attracts skilled professionals, promotes awareness, ensures network stability, drives ongoing improvements, engages the community, and enhances security.
Against the backdrop of Bitcoin’s recent price surge, Fuse aims to simplify the journey for firms with its funding program, recognizing the importance of strategic positioning in the evolving market.