Welcome to the fascinating frontier of web3! As the crypto industry battles various challenges, a new wave of creative energy surges from Alliance DAO, a web3 accelerator and builder community. Their latest cohort, fondly known as ALL10, recently took center stage to present their innovative ideas at a demo day, exclusively covered by TechCrunch.
This biannual event, hosted by Alliance DAO, invites the brightest web3 founders to participate in a three-month program, nurturing their ideas into reality. The current cohort saw a staggering 1,692 applications, marking an impressive 77.5% increase from the previous round. Of these, a select 16 startups emerged triumphant, graduating from this rigorous program.
As Qiao Wang, a core contributor at Alliance DAO, asserts, this new batch of startups provides a clear lens into the industry’s current trends. From enhancing the Bitcoin network to experimenting with real-time blockchain data, these startups are exploring uncharted territories of the crypto world.
One of the most notable themes this year is the intriguing intersection of AI and crypto. AI's potential to revolutionize crypto games, on-chain analytics, and off-chain computations is a hot topic among this year’s participants. In fact, this is the first cohort to include startups that leverage AI, highlighting a growing trend of integrating automated technology into the crypto ecosystem.
Despite resource scarcity in this second year of the bear market, these startups have proven that you don't need a mammoth team or millions in VC funding to create something extraordinary. For instance, Tensor, from Alliance DAO’s previous cohort, raised $3 million and is on its way to becoming the largest Solana-based NFT marketplace, all with a lean team of just three.
This year's mentors include illustrious names like Anatoly Yakovenko, the co-founder of Solana; Ryan Wyatt, the president of Polygon Labs; and Juan Benet, the founder and CEO of Filecoin, among others.
Let's delve into these 16 startups shaking up the web3 scene:
Teablocks: Using ChatGPT for blockchain data, Teablocks aims to make blockchain data accessible and understandable to everyone. The platform has garnered interest from over 300 companies and is currently raising a seed round.
Xverse: A Bitcoin wallet for the web3 world, Xverse allows users to self-custody their assets while offering a MetaMask-like experience for DeFi and NFTs. With over 130,000 users, Xverse is raising a $4 million seed round.
Snapchain: This startup offers a zero-knowledge-rollup-as-a-service to make it easier for developers to configure, create, and manage ZK-rollups.
Glow: Glow is creating a proof of physical work (PoPW) for carbon credits, incentivizing the construction of solar panels to produce carbon credits and displace unclean energy.
Modulus Labs: Through zero-knowledge proofs, Modulus Labs aims to facilitate privacy-preserving computations for web3 applications. Backed by the Ethereum Foundation, this startup is raising a $3 million seed round.
Zed.ai: Harnessing AI, Zed.ai is developing an on-chain analytics tool to identify patterns and predict market trends. Their advanced technology has already garnered 500+ clients.
Voxel: With a vision to democratize game development, Voxel is creating a user-friendly interface that allows anyone to build and monetize crypto games. The platform has 20,000+ active users and is raising $5 million in Series A funding.
Databook: Databook aims to give users control over their data by enabling them to monetize it in a secure and privacy-preserving manner. Already working with numerous Fortune 500 companies, Databook is seeking to raise $10 million in Series A funding.
Halcyon: Halcyon is working on a new layer-2 solution for the Bitcoin network to make transactions faster, cheaper, and more efficient. The startup is currently raising a $2 million seed round.
Glitch: Glitch is a decentralized exchange (DEX) on the Cosmos network that allows users to trade tokens without a centralized authority. The platform already hosts over 1,000 different tokens and is raising a $5 million seed round.
Aether: Aether is developing an Ethereum-to-Bitcoin bridge that will allow seamless transactions between the two networks. With over 10,000 users, Aether is raising a $3 million seed round.
Empyrean: Aiming to democratize finance, Empyrean is a decentralized lending and borrowing platform on the Avalanche network. The platform already has $1.5 million in total value locked and is raising a $2.5 million seed round.
Nexus: Nexus is building a decentralized social media platform on the Solana network where users can earn tokens by creating and interacting with content. The platform has 200,000+ active users and is raising a $6 million seed round.
Quasar: Quasar is an NFT-based metaverse platform that allows users to create, buy, and sell virtual real estate. The platform has already sold over $2 million worth of virtual real estate and is raising a $7 million seed round.
Zenko: Zenko is creating a decentralized marketplace for AI models on the Ethereum network. The platform already has over 1,000 AI models and is raising a $4 million seed round.
Pylon: Pylon is a decentralized identity platform on the Polkadot network that allows users to prove their identity without revealing sensitive information. The platform is raising a $3 million seed round.
These startups, nurtured under the wings of Alliance DAO, are reimagining the boundaries of the web3 ecosystem. Their zeal, combined with the potential of blockchain technology, holds the key to unlocking an entirely new world of possibilities. As we anticipate the next cohort of ALL10, we continue to marvel at the magic that arises when brilliant minds meet the uncharted landscape of web3.
