The program looks to help build a new direction for Web3 by offering cash and token funding support
Topl, the impact technology economy which aims to empower businesses to achieve their full potential has announced its $1 million inaugural grant program for impact-driven blockchain building.
The funding is aimed at designers, visionaries, and changemakers who are looking to change the way markets operate and how business is done, with impact as the key driver. Projects may be at any stage in development but must meet three requirements. Each project must be built on Topl’s L0 blockchain protocol, other Web3 technologies may be incorporated. The funding must be used to drive towards development milestones and finally, Topl states that the third requirement is that “The world will be a better place if you succeed”.
Topl also stated that there are particular areas that they are interested in such as –
- Mobile accessibility: Topl says it is interested in solutions that can bring the Topl blockchain “into people’s pockets” as dApps and protocols will be critical to bringing Web3 to the next billion users.
- Sustainability: New incentives and novel markets that strive to better handle externalities of carbon and climate impact.
- Impact NFTs: Turning intangible impact goals and claims into more tangible collectibles and tokens, with real underlying value.
- Proof of identity: Using Web3 to provide more people with an identity. As identity access is required for many forms of business in the formal economy.
- Interoperability: Efforts that will see greater interconnectivity and exchange across various Web3 protocols and projects
The above fields are simply areas that Topl has a particular interest in and projects that perhaps do not fit into these areas will still be eligible. The first round for applications was in September but a second round has a due date of November 15th. The Topl team will review applications and aim to respond within three weeks with a decision or to request additional details. The grant amount given to those accepted will be $500,000 in cash and $500,000 in tokens.