Ethereum venture production studio ConsenSys has selected seven new Ethereum-based projects to support with $175,000 of funding.
ConsenSys recognizes “more unique ideas”
The company’s head of experiential marketing Yadira Blocker confirmed the latest round of startups to receive cash.
ConsenSys has been funding what it considers promising projects since February. Since the launch, the ConsenSys Grants scheme has spent $330,000 on fifteen startups.
“In Wave 1, we saw a lot of applications but they weren’t super strong. In Wave 2, we started to see more credible teams and more unique ideas come to the table,” Blocker said.
Momentum builds on Ethereum
“ConsenSys Grants funds open-source projects that benefit the greater Ethereum ecosystem,” the firm’s officials explained in a blog post on Sept. 9, adding:
“We support projects in critical areas like core infrastructure, improved developer tooling and UX, security, and access to knowledge for developers, users, and social impact.”
ConsenSys confirmed it had acquired infrastructure provider Infura, one of the Ethereum projects it previously backed.
The company faced problems earlier in 2019, as the cryptocurrency bear market caused it to make 13% of its staff redundant.