Introduction:
The latest batch of graduates from Alliance DAO’s crypto accelerator program has been unveiled, indicating the current investor appetite and user adoption trends in the crypto space. This comes at a time of excitement for the recovering market, with Bitcoin recently hitting its all-time high. Despite a decline in value since then, Bitcoin continues to trade at higher levels than during the market downturn in late 2022. Venture investors are responding to this enthusiasm, leading to a sharp increase in total fundraising for web3 startups in Q1.
The Impact of Regulatory Efforts:
While there is renewed enthusiasm among web3 believers, regulatory efforts to rein in the industry have not waned. The U.S. has seen significant crackdowns, with Binance’s founder facing imprisonment and Uniswap receiving a notice from the SEC. These regulatory actions have had a palpable impact on Alliance DAO’s geographic composition.
Declining Participation from North America:
According to Qiao Wang, one of the founding partners of Alliance DAO, the share of founders based in North America applying to the accelerator has declined over the past three years. This decline is likely due to both regulatory concerns and the finding of product-market fit in emerging markets. As a result, more founders may be setting up physical bases in regions with more favorable crypto environments.
The Rise of Asia:
Asia has quickly become a popular destination for crypto entrepreneurs due to its large, young user base that is open to new technology and financial assets. Jurisdictions like Hong Kong, Japan, and Singapore have also provided clearer regulatory frameworks for the crypto sector, giving reassurance to founders facing policy uncertainty elsewhere. As a result, Alliance DAO has seen an increase in interest from Asia, with a rise in applications from the region.
Introducing the Latest Cohort:
Alliance DAO’s 12th cohort received a significant increase in applications compared to the previous batch. Out of 1,503 applications, only 21 teams were accepted, resulting in a competitive 1.4% acceptance rate. The focus of this cohort remains on projects building on Ethereum, although other ecosystems like Solana and Bitcoin are also making a comeback. Popular verticals among the batch include decentralized AI, crypto infrastructure, decentralized finance (DeFi), and crypto-based payment solutions.
Insights into Selected Projects:
Several projects from the latest cohort were highlighted, showcasing their unique value propositions and potential impact. These projects include Villcaso, which aims to provide fractional ownership of U.S. real estate to a global audience; GoBankless, which focuses on instant cross-border payments in Africa using stablecoins; Wasabi Protocol, a leverage trading protocol for crypto assets; Lulubit, a Coinbase-like platform for Central America; ZwapX, a marketplace for tokenized watches; Fractal Payments, a cross-border payments solution for global businesses; Código, which provides crypto data for AI training; Accrue, a stablecoin payment network for Africa; Fig Investments, which tokenizes hedge fund strategies; 0G, a modular AI chain for scaling Ethereum transactions; Proto, a decentralized mapping platform for accurate navigation in developing countries; and Dinari, a global tokenized stock exchange.
Expert Mentorship:
Alliance DAO’s accelerator program also includes guest mentors who share their domain knowledge with the cohorts. This time, the mentors include industry experts and founders from various crypto-related ventures.
Conclusion:
The latest batch of graduates from Alliance DAO’s crypto accelerator program provides valuable insights into the current state of the crypto market and trends in investor appetite and user adoption. The decline in participation from North America and the rise of Asia as a popular destination for crypto entrepreneurs highlight the impact of regulatory efforts and the attractiveness of emerging markets. The selected projects from the cohort showcase the diversity and potential of web3 startups. With expert mentorship and support, these projects have the opportunity to make a significant impact in the crypto space.