Cronos partners with Filecoin’s Protocol Labs to boost Web 3 adoption

By xnftcrypto On Jul 8, 2023

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Cronos Labs announced a major partnership with Protocol Labs, the creator of Filecoin, the popular decentralized storage platform. The deal will see the two companies provide finances and other tools to companies building in their ecosystem.

Creators in the Cronos Accelerator Program will receive mentorship and technical support from the two companies. Cronos is now implementing the third cohort of the accelerator program. In the first one, winners received $30,000 upfront and access to another $300k in funding. In a statement, Ruben Amenyogbo of Protocol Labs said:

“This partnership has tremendous potential to provide robust support and empowerment to the current and future cohorts of blockchain startups, fostering the growth of decentralized finance, GameFi, SocialFi, and web3 infrastructure projects. By pushing boundaries and spearheading computing breakthroughs, we aim to shape the future of the web and create a transformative impact.”

Cronos and Protocol Labs are both major players in the industry. Filecoin has built a leading decentralized storage platform that is used by many developers. It recently launched the Filecoin Virtual Machine (FVM), which is slowly gaining traction.

At the same time, the developers recently launched Filecoin Web Services, which provides tools like Kubernetes and containers to developers.

Cronos Labs, on the other hand, is the 11th biggest DeFi chains in the world with over $416 million in total value locked (TVL). Some of the top dApps in the ecosystem are Tectonic, VVS Finance.and MM Finance among others. Cronos Labs is backed by Crypto.com, one of the biggest crypto exchanges in the world.