With strategic and eco-system partners Near Nordic, Klint, and Growth Secrets, the pre-seed fund aims to support utility-focused decentralized applications (Dapps) across a variety of industries.
What is Web3?
Web3 refers to blockchain technology and its fundamentals as they relate to decentralization and token-based economics.
The Layer Three Ventures Accelerator Program
Funding for Layer Three Ventures is allocated towards running two 12-week accelerator programs, supporting staff, and investing in 10 startups per cohort.
The Layer Three Ventures Accelerator Program includes:
- 80 Modules covering everything from growth-hacking to Blockchain Ui / UX
- Tailored approach to building, launching, and scaling Web3 Startups
- $100K in startup resources
- Access to expert advisors and mentors
After finalizing the limited partners this summer, the first accelerator cohort is expected to be completed in late December 2022.
“There’s a largely underserved market. Prior to the recent crash, Layer 1 blockchains accounted for 78% of all blockchain revenue. This suggests that the majority of investment and revenue is still speculative in nature,” says Taylor Ryan, Founder of Layer Three Ventures.
“The infrastructure exists. It’s like having roads but nobody has built the cars yet. The startups that get it right will become the next generation of unicorns,” Ryan notes in an interview.
The Web3 Market:
While many investors are waiting to see how the market performs, the early movers are hard at work to get ahead while they can. The Greed and Fear Index, measures a multifactoral sentiment of the market such as volatility, market volume, social media, etc. The last few weeks have seen some of the highest scores in the market, which is labeled as “Extreme Fear.”
“We’re counting on the fact that when the market bounces back, we’ll have the early-mover advantage,” says Ryan.
Many of the most recognizable names in venture capital are allocating funds for future investment. Andreessen Horowitz recently announced a $4.5B Crypto Fund, it’s fourth. Meanwhile, the crypto market has seen significant volatility since May after the historic crash of Luna.