- Fund seeks to accelerate blockchain adoption in Latin America and on-chain applications.
- A $250,000 fund has been launched by Lumx for Polygon blockchain projects in Latin America.
- Smart contracts, NFTs, smart accounts, and thirdweb product access are all supported by grants.
A $250,000 fund has been established by Web3 startup Lumx to expedite on-chain development on the Polygon network in Latin America. By providing grants to businesses developing apps on any Polygon blockchain that leverage Lumx’s APIs, the LATAM Acceleration Fund seeks to promote blockchain innovation and adoption.
The fund will support user transactions involving smart contracts, smart account deployment, NFT generation, and free Web3 product access. Grant applications are accepted through August 20, 2024.
According to Manuel Echanove, Head of BD for Latin America at Polygon Labs, “Polygon Labs is very excited to support the overall web3 development in Latin America, and we believe that the top use cases can become a reality only through the best infra providers.” Lumx is dedicated to creating use cases that are just more practical or superior thanks to on-chain dynamics in the Polygon aggregated network. Lumx shares our web3 ethos to a great extent.
Remarkably, the 2023 Geography of Cryptocurrencies research by Chainalysis lists three Latin American nations among the Top 20 in terms of cryptocurrency adoption. Brazil is ranked ninth, followed by Argentina and Mexico in 15th and 16th place, respectively.
Director of BizDev at Lumx Lugui Tillier highlighted how the program might boost Brazil’s standing in the global Web3 development arena and spark important projects in the area.
Although blockchain technology is quite powerful, it is nothing without useful applications. We are about to embark on a cycle of on-chain applications, following multiple cycles centered around infrastructure, and Lumx will spearhead this development on Polygon! Now is the moment to construct! Now is the moment to construct!
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
