The web3 industry is brimming with startups that are determined to make a mark for themselves, even in the midst of a bear market. While much of the media’s attention is focused on the big players in the crypto space, there are numerous under-the-radar startups that are pushing the boundaries of innovation and navigating the challenges of the current market conditions.
Key Takeaway
Alliance DAO’s latest accelerator cohort features eight innovative startups in the web3 industry. These startups are defying the challenges of the crypto winter to push forward with groundbreaking ideas and solutions. With the support of Alliance DAO and a network of experienced mentors, these startups are poised to thrive in the competitive web3 landscape.
Alliance DAO, a renowned web3 accelerator program, recently held its demo day for participants in its All11 program, and we have exclusive coverage of the event. The three-month-long accelerator program, which runs twice a year, provides web3 founders with over 10 hours of mentoring per week. Notably, each startup in the latest cohort received an average of over 50 introductory requests from major venture capital firms such as Paradigm and Multicoin. Alliance DAO also invests $250,000 in startups that participate in the program.
Introducing the All11 Cohort
This year’s cohort witnessed a highly competitive application process, with a total of 1,083 startups vying for a spot. Ultimately, only six teams made it through and are graduating from the program. Additionally, two startups from the previous cohort, All10, were also invited to present, highlighting the exclusivity of this year’s cohort.
The All11 cohort is blessed with a stellar lineup of mentors, including industry luminaries like Kain Warwick, founder of Synthetix, and Anatoly Yakovenko, co-founder of Solana, among others. These mentors provide invaluable guidance and expertise to the startups, setting them up for success in the competitive web3 landscape.
Get to Know the Startups
Kravata: Connecting Traditional Finance with Cryptocurrencies in Latin America
Kravata, a Colombia-based platform, aims to bridge the gap between traditional financial infrastructure and cryptocurrencies in Latin America. Its comprehensive suite of services includes on- and off-ramps to convert fiat to crypto and vice versa, market making, and cross-border transfer systems. Kravata has already caught the attention of prominent investors like Circle Ventures, Framework Ventures, Alliance DAO, and others, and is currently raising a seed round.
Thunder: Empowering Users with an Onchain Trading Terminal
Thunder, a product of Eversify, is an onchain trading terminal that gives users an “unfair advantage” in the world of trading. With support for major blockchains and exchanges, Thunder aims to provide users with unparalleled trading capabilities. Currently seeking strategic investors for its seed round, Thunder is poised to make waves in the trading community.
Sleepagotchi: Gamifying Sleep with NFTs
Sleepagotchi, a mobile app game, gamifies the process of developing healthy sleep habits using non-fungible tokens (NFTs). The app rewards users for hitting sleep goals and allows them to collect valuable in-game items that motivate them to sleep better. With 14,000 monthly active users and a remarkable one-year retention rate, Sleepagotchi is actively raising funds from strategic investors to further fuel its growth.
Blockcast: Decentralizing Broadcast Delivery
Blockcast is a decentralized content delivery network that aims to boost the reach and traffic of broadcasters. By tokenizing un-utilized TV spectrum, Blockcast bridges the gap between traditional television and online streaming. This innovative approach significantly reduces streaming costs, making it an attractive proposition for broadcasters. Blockcast is currently in the process of raising a seed round to support its ambitious goals.
Tailwind: A Cosmos-Based Smart Wallet
Tailwind is a crypto wallet that caters specifically to the Cosmos ecosystem. By abstracting away the complexities of different chains, Tailwind enables users to seamlessly interact with decentralized applications. Led by Bao Mai, a founding engineer at JunoSwap, Tailwind is currently raising funds to accelerate its development and provide a user-friendly experience for its growing user base.
Tazz: Empowering Decentralized Lending with a Protocol
Tazz is a decentralized lending protocol that aims to streamline the buying and selling of debt tied to digital assets. By leveraging decentralized exchanges like Uniswap V3, Tazz offers users an efficient way to trade debt while accepting any type of crypto collateral. The impressive traction of Tazz is evidenced by its ongoing discussions with a major protocol to issue $5 million in debt. Currently raising a seed round, Tazz is poised to make a significant impact in the decentralized finance space.
Upshield: Providing Web3 Security for Protocols and Assets
Upshield is a comprehensive web3 security platform that safeguards protocols, assets, and communities. Designed to be user-friendly for non-security experts, Upshield offers a full-stack solution that covers threats across smart contracts, application front ends, and social channels. With support for multiple blockchains and networks, Upshield provides users with peace of mind in a rapidly evolving security landscape. The startup has already gained significant traction, boasting an annual recurring revenue of $120,000. Upshield is currently raising funds to further enhance its cutting-edge security offerings.
Inco: The Encrypted Ethereum Virtual Machine
Inco Network is an encrypted Ethereum virtual machine (EVM) layer-1 protocol that empowers decentralized applications (dApps) to run on-chain. Leveraging fully homomorphic encryption (FHE), Inco Network ensures the confidentiality of data while enabling the execution of computations on encrypted data. This breakthrough technology opens up a wide range of possibilities, from private smart contracts to secure voting systems. Currently in the fundraising phase, Inco Network is set to revolutionize how dApps operate on the Ethereum network.
Building in Challenging Times
Despite the challenging market conditions in the crypto industry, these eight startups are boldly pushing forward, undeterred by the crypto winter. While venture funding and developer activity may be at a low point in the cycle, history has shown that the winners of the next cycle are often built during the toughest times. These startups are a testament to the resilience and innovation that defines the web3 industry, and they are poised to make a lasting impact in the blockchain ecosystem.
