The NFX Guild, a mentorship-driven startup accelerator, has partnered with Synereo, a blockchain-based, decentralized social network, to develop an ecosystem of decentralized applications (dApps) on top of Synereo’s Blockchain 2.0 platform. The organizations share the vision of a freer and fairer Internet.
Synereo’s blockchain 2.0 platform is a blockchain-based technology stack. According to its developers, Synereo enables applications, sites and web-services to operate without relying on centralized servers, effectively transforming how the Internet works.
Synereo CEO, Dor Konforty, sees ‘Blockchain 2.0’ as a platform that “scales, isn’t massively replicated but fully distributed, functions as a storage solution, and allows for formal verification of smart contracts.”
The NFX Guild will select up to three teams to build its dApps using Synereo’s technology for the next class of the NFX Guild accelerator program. The program is accessible only to the most promising teams.
Developers To Compete With dApps
To launch the program, the two organizations will invite developers to participate in a hackathon in which participants will develop ideas for Synereo-powered decentralized applications. Hackathon winners, along with handpicked Project 11 laureates, will qualify to apply to the NFX Accelerator Program.
Accepted teams will receive $120,000 in investment funds from NFX, plus an AMP grant (Synereo’s native currency) from Synereo.
“We have been looking at digital currencies, blockchain, and the decentralized economy for over a decade,” said James Currier, NFX Guild managing partner. “We’ve been looking for a time and a group that was not just cryptonerds, but that was practical, who wanted to build applications, who wanted to make it about the user’s experience of something great – not just about the technology and the math.”
Currier said the Synereo team brings such a balanced perspective, and the NFX Guild is looking for growth oriented, practical founding teams with the same approach to building apps on the Synereo platform.
Each new dApp in the Synereo ecosystem brings more functionality and users to the decentralized economy. This creates value for all participants and every new application developer.
“We found the Synereo team to have a unique combination of cryptocurrency and modern digital finance understanding alongside a real understanding of developer requirements and the know-how of how to build strong developer tools,” said Gigi Levy-Weiss, NFC Guild founding partner.
Such a combination places Synereo in a leadership position in bringing blockchain technology to the everyday world.