ConsenSys Selects 7 New Ethereum-Based Projects to Support with $175K Funding

Ethereum venture production studio ConsenSys has chosen seven new Ethereum-based initiatives to award with a $175,000 grant. 

Talking to crypto industry news source CoinDesk on October 10, the firm’s head of experiential marketing Yadira Blocker affirmed the most recent round of startups to get money.

ConsenSys has been financing what it considers to be promising ventures since February. Since the establishment, the ConsenSys Grants scheme has spent $330,000 on 15 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 stated.

Among the most recent beneficiaries, presently part of Wave 3, are Ethereum software client Lighthouse and mobile decentralized applications constructor Alice.

“ConsenSys Grants funds open-source projects that benefit the greater Ethereum ecosystem,” the company’s executives clarified in a blog entry on September 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.”

As previously reported, ConsenSys affirmed it had procured infrastructure provider Infura, one of the Ethereum ventures it recently sponsored.

The firmed confronted issues earlier this year, as the crypto bear market made 13% of its staff redundant.