Algorand Foundation joins AlgoDAO’s seed round as strategic investor
Algorand Foundation has joined the AlgoDAO seed round as a strategic investor. AlgoDAO is a next-generation decentralized primary market infrastructure and Web3 accelerator for Algorand.
AlgoDAO is on a mission to eliminate the economic barriers to Web3 funding by providing access to a decentralized primary market infrastructure at scale. AlgoDAO is purpose-built for the Algorand network to function as an accelerator, launchpad and price-discovery engine to access early-stage funding opportunities.
AlgoDAO will play a significant role in mainstreaming the adoption of blockchain-powered solutions by facilitating the participation of non-crypto natives and non-technical audiences in early-stage investments in high-quality projects in the new digital assets economy.
Algorand Foundation’s strategic investment in the seed round further validates their strong belief in the need for a decentralized primary infrastructure to rapidly scale Algorand’s L2 ecosystem, attract and empower developers to build on Algorand, as well as position Algorand to compete effectively with other L1 chains in the DeFi, Web3, and dApps economy.
The strategic investment of the Algorand Foundation further qualifies projects that pass AlgoDAO’s due diligence to be incentivized with a US$5,000 ecosystem support grant and an NFT badge that provides them with provably reputable third-party validation.
Nathan Kaiser, appointed Managing Director at AlgoDAO
“The Algorand Foundation joining AlgoDAO as a strategic investor is a testament that we are on the right track in our mission to build a vibrant primary market infrastructure for the Algorand ecosystem. We will be working closely with the Foundation to unlock more opportunities for innovative projects to get all the support they need to build the borderless future of Algorand.”
Daniel Oon, Head of DeFi at the Algorand Foundation
“AlgoDAO’s implementation of a built-in accelerator within their launchpad helps boost the quality of projects in the Algorand ecosystem. Some users might find their Sigma pool farming very interesting as it grows over time due to the number of projects successfully funded.”
About AlgoDAO
AlgoDAO is a next-generation decentralized primary market infrastructure and Web3 accelerator for the Algorand ecosystem. It is designed to be a community-owned and driven ecosystem for incubation, launching, accelerating, and collectively investing into high-quality projects building on Algorand.
About Algorand Foundation
The Algorand blockchain — designed by MIT professor and Turing Award-winning cryptographer Silvio Micali — is uniquely capable of delivering on the promise of a borderless global economy.
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