The NFX Guild, a mentorship-driven startup accelerator, has partnered with Synereo, a blockchain-based, decentralized social network, to develop an ecosystem of decentralized applications (dApps) on top of Synereo’s Blockchain 2.0 platform. The organizations share the vision of a freer and fairer Internet.
Synereo’s technology for the next class of the NFX Guild accelerator program. The program is accessible only to the most promising teams.
The NFX Guild will select up to three teams to build its dApps using Synereo’s technology for the next class of the NFX Guild accelerator program. The program is accessible only to the most promising teams.
Developers To Compete With dApps
To launch the program, the two organizations will invite developers to participate in a hackathon in which participants will develop ideas for Synereo-powered decentralized applications. Hackathon winners, along with handpicked Project 11 laureates, will qualify to apply to the NFX Accelerator Program.
Accepted teams will receive $120,000 in investment funds from NFX, plus an AMP grant (Synereo's native currency) from Synereo.
“We have been looking at digital currencies, blockchain, and the decentralized economy for over a decade,” said James Currier, NFX Guild managing partner. “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 user's experience of something great – not just about the technology and the math.”
Currier said the Synereo team brings such a balanced perspective, and the NFX Guild is looking for growth oriented, practical founding teams with the same approach to building apps on the Synereo platform.
The NFX Guild brings expertise in network effects, a key aspect of creating defensible, sustainable digital ecosystems. The NFX Guild regards Synereo as a major player in the decentralized economy, focused on creating opportunities for network effects for new applications in the decentralized paradigms, and perhaps more importantly, among decentralized applications.
Each new dApp in the Synereo ecosystem brings more functionality and users to the decentralized economy. This creates value for all participants and every new application developer.
“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,” said Gigi Levy-Weiss, NFC Guild founding partner.
Such a combination places Synereo in a leadership position in bringing blockchain technology to the everyday world.
A Unique Accelerator Program
The NFX Guild is a mentorship-driven startup accelerator launched by tech investors and partners Currier, Levy-Weiss and Stan Chudnovsky. Its financial backers include Greylock Partners, CRV and Shasta Ventures.
The NFX Guild selects portfolio companies through scouts as opposed to an open application process. It focuses on companies that rely on network effects, and holds two programs for Silicon Valley startups every year.
Synereo recently graduated from the NFX Guild’s accelerator program.
The NFX Guild will invest resources, time and effort in accelerating the development of applications deployed on top of Synereo.
Images from Shutterstock and NFX Guild.