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Web3 Foundation Pledges $45M To Support A Range Of Ecosystems

The organisation is creating a decentralised internet where users control their own data, identity and destiny

Not-for-profit organisation Web3 Foundation, whose flagship project is the Polkadot blockchain protocol, has launched and reopened applications for its decentralised Futures Program. The program will provide funding to kickstart teams and individuals building ambitious projects that contribute to the growth of the Polkadot ecosystem.  

In line with the organisation’s mission to empower the Polkadot community and to steer the decentralised growth of the Polkadot ecosystem, the program has been established to be part of the Web3 Foundation’s program. Individuals and teams eager to drive, enable and amplify the next generation of web3 breakthroughs are encouraged to explore further here and share their ideas on the Polkadot Forum.

Speaking on the launch of the program, CEO Fabian Gompf said, “The Foundation believes its strongest asset is the community itself. The decentralised Futures Program doubles down on this belief, allocating sizeable investments and grants that can accelerate the growth of decentralized technologies.”

Diverse capabilities 

“By empowering our community to lead the next phase of the development of Polkadot we are tapping into the diverse capabilities of our community, and moving away from centralised stewardship of the protocol. In doing so, the program represents a meaningful step closer to realising the fundamental vision of the Foundation: creating a decentralised internet where users control their own data, identity and destiny,” added Fabian. 

The Web3 Foundation emphasises that teams and individuals from diverse backgrounds, disciplines and scales are eligible for funding, encompassing projects focused on developer experience, marketing, community events, ecosystem development, common good parachains, and infrastructure. Funding will be granted to projects that demonstrate the ability to evolve towards self-sustainability.

David Hawig, technical advisor at Web3 Foundation said, “We see decentralised governance and leadership as a core value of web3 and Polkadot. The decentralised Futures Program reaffirms that commitment, building on the success of the Web3 Foundation’s Grant program which – as of September 20th, 2023 – has processed 1,000 payments in grants funding.” 

Written By

Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.

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