Accelerating Web3 Startup Growth & Blockchain Adoption: AWS Teams Up With Cronos Labs
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Amazon Web Services (AWS) and Cronos Labs have entered into a strategic partnership to support the growth of Web3 startups and drive blockchain technology adoption across various industries. AWS will provide cloud computing resources and expertise, while Cronos Labs will offer its know-how in blockchain development. The collaboration will particularly focus on the areas of decentralized finance (DeFi), GameFi, SocialFi and Infrastructure.
Following the announcement, the price of CRO, the Cronos ecosystem’s native token, experienced a 15% increase within a day, and trading volumes also increased by over 500%. Amazon has previously partnered with other blockchain-related entities, such as Ava Labs, Chainlink, and VeChainThor. The crypto community is also anticipating the rumored launch of the Amazon NFT Marketplace.
The partnership will see AWS help scale and grow projects in the Cronos Accelerator Program, a startup accelerator specializing in DeFi and blockchain games. Launching in June 2022, the program is backed by $100 million from the Cronos Labs Ecosystem Fund to support ongoing ecosystem development. Each year, the program trains and connects mentors with 3-4 cohorts of 10 startups each.
Cronos Accelerator Program participants will benefit from the scalability, security and flexibility of AWS’s cloud infrastructure, enabling the rapid and efficient development and deployment of blockchain-based applications. The collaboration will also allow startups to explore innovation at the intersection of blockchain and a range of machine learning and AI services offered by AWS. Cronos Labs will provide technical, commercial, financing and mentoring support to the startups.
About Cronos Chain
Cronos (cronos.org) is the first EVM-compatible Layer-1 blockchain network built on the Cosmos SDK, supported by Crypto.com, Crypto.org and more than 400 app developers and partners. Cronos is building an open ecosystem where developers can create their DeFi and GameFi applications, targeting a base of 80+ million users globally. In June 2022, Cronos Labs launched a $100 million accelerator program to help developers build new projects and the future of Web3 within the Cronos ecosystem.
Developers building on Cronos can leverage Ethereum developer tools, leading crypto wallets, wrapped versions of the top 50 cryptocurrencies, Cronos Play (a suite of developer tools for Unity, C++ and Unreal engines), inter-blockchain communication (IBC) cross-chain connectivity to Cosmos- chains, and a rich ecosystem of composable DeFi and GameFi dapps.
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