Game7 to allocate $100 million in grants for Web3 startups

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Game accelerator Game7 intends to allocate $100 million in grants to Web3 startups that have already completed several stages of developing open source technology.

Game7, decentralized autonomousorganization (DAO), focused on supporting blockchain gaming startups, said the grants will support both individuals and entities developing blockchain games, smart contracts, and community software and tools.

Developers will also be able to count ontechnical support and consultations with Game7 specialists. The company emphasized that it is not tied to one blockchain, and will be able to provide support to developers from any network. However, applicants should not view grants as a substitute for venture capital funding.

Game7 does not plan to pay grants in advance,and will transfer funds only upon certain results. Developers will have to pass a KYC (Know Your Customer) check, sign a contract and submit an application indicating the digital wallet address. However, despite the contract, developers will be able to apply for other grants and funding.

Previously, analysts from DappRadar publishedreport that blockchain games continue to be the main driver of decentralized applications, and the number of new users is growing steadily.