STARKNET FOUNDATION LAUNCHES $5M GRANTS 

The Starknet Foundation has launched a new $5 million grants program, offering financial support to developers of emerging projects on its network.

This $5 million Seed Grants Program is designed to aid at least 200 teams by providing each with $25,000 in USD Coin, aiming to give a crucial boost to projects that are in their final stages and ready to launch on Starknet, an Ethereum layer-2 scaling solution utilizing zero-knowledge rollup technology.

Diego Oliva, CEO of the Starknet Foundation, explained the rationale behind the initiative in an interview with Cointelegraph. He emphasized the foundation’s commitment to supporting developers who are close to completing their projects but need help crossing the finish line. “We’ve been listening to the developers and understanding the challenges they encounter. Many have great ideas and the creativity needed but struggle with the ‘last mile’ of development. This program is our response to help them move from development to deployment with less bureaucracy,” Oliva stated.

The grants are targeted at projects related to Starknet that have already developed a minimum viable product (MVP) or a proof-of-concept. Oliva highlighted the foundation’s broader aim to stimulate blockchain innovation by lowering entry barriers for nascent teams.

The appeal of Starknet to developers is growing, as evidenced by a significant increase in the number of developers working within its ecosystem. According to the 2023 Developer Report by Electric Capital, the total number of monthly developers on Starknet surged to over 22,400 in December 2023, marking a 113% increase from 10,500 in December 2020.

Oliva also discussed the vibrant activity in blockchain gaming, a sector that continues to be a primary utility driver for Starknet and the broader blockchain industry. “Starknet is at the forefront of fully on-chain gaming. Some of the notable projects include Realms, Influence, and Dojo. The gaming sector not only serves the gaming community but also plays a critical role in stress-testing network capabilities and showcasing the potential of blockchain technology,” he told Cointelegraph.

According to DappRadar, blockchain gaming constitutes 35% of all decentralized application activity, with over 2.2 million daily unique active wallets engaging with these platforms.

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