Web3 startup Lumx has introduced a $250,000 fund aimed at accelerating on-chain development on the Polygon network in Latin America. The LATAM Acceleration Fund is designed to foster innovation and blockchain adoption by providing grants to companies building applications using Lumx’s APIs on the Polygon blockchain.
Key Features: The fund will support various blockchain applications, including smart accounts, smart contracts, NFTs, and free access to Web3 products. The initiative aims to sponsor user transactions and promote blockchain technology in the region.
Community Impact: The launch of this fund is expected to significantly impact the blockchain landscape in Latin America. According to Chainalysis’ “2023 Geography of Cryptocurrencies” report, Brazil, Argentina, and Mexico are among the top 20 countries in crypto adoption, highlighting the region's potential for blockchain innovations.
Statements from Leaders: Manuel Echanove, Head of Business Development for Latin America at Polygon Labs, expressed excitement about supporting Web3 development in Latin America. Lugui Tillier, Director of Business Development at Lumx, emphasized the initiative's potential to drive high-level projects and strengthen Brazil’s position in global Web3 development.
Application and Deadline: Applications for the grants are open until August 20th, 2024. This initiative underscores Lumx’s commitment to advancing blockchain technology and creating practical on-chain applications.
Conclusion: Lumx’s $250,000 fund for Polygon projects marks a significant step towards enhancing blockchain adoption in Latin America. By supporting innovative applications and fostering community engagement, Lumx aims to drive the next wave of blockchain technology in the region.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
