Fantom Foundation Launches Sonic Labs Accelerator Program with Andre Cronje as Mentor

• The Sonic Labs accelerator is incubating the development of up to five selected projects to drive growth of Fantom's Sonic technology
• The Foundation to provide promising projects with ongoing support from Sonic Labs, including direct mentorship from Andre Cronje

GEORGE TOWN, Cayman Islands, Dec. 4, 2023 /PRNewswire/ -- The Fantom Foundation ("the Foundation"), the team supporting the development of the Fantom blockchain, today announced the launch of its Sonic Labs startup accelerator program to foster innovation within Fantom's new Sonic technology stack and empower the next generation of web3 founders with vital resources, guidance, and support. The Fantom Foundation encourages qualifying projects to apply here. Developers can begin building their projects on Sonic starting on Friday, December 15.

Through this accelerator program, the Foundation is identifying up to five projects to join Sonic Labs and receive grants from a pool of 1,000,000 FTM (~294,000 USD) allocated to finance the development of each project's MVP. Selected projects receive technical support, co-marketing, and mentorship, from key Fantom leadership including Director Andre Cronje. Further, selected developers have the opportunity to present their projects to partner VCs and the Foundation for further investment. The projects selected are to launch alongside Fantom Sonic mainnet scheduled to launch in spring 2024.

"We firmly believe that our community is a driving force behind Fantom's success," said Michael Kong, CEO of the Fantom Foundation. "So we want the Sonic Labs program to clearly demonstrate our dedication to the next generation of web3 entrepreneurs and innovators. By leveraging the Foundation's resources and Andre's industry knowledge, we're looking forward to bringing together the most ambitious web3 pioneers in the Fantom community."

Andre Cronje, Director at Fantom Foundation, added: "I'm looking forward to working with the top projects from Sonic Labs, leveraging my experience in building applications and general industry insights to enhance the development of promising projects within our ecosystem. Having access to industry veterans pays dividends early in the development cycle and that is exactly what I look to provide to our Sonic Labs partners."

The Sonic Labs program is open to all developers building new applications with Fantom's technology and across blockchain sectors like GameFi, DeFi, Ts, NFRWAs, etc. The competition is judged by Fantom Foundation executives and VC partners. Applications open today and the competition runs through February 6, 2024. Winners will be announced shortly thereafter.

Projects that apply with be judged by the following criteria:

• Vision
• Utilization of Sonic's technology
• Identified Target User Base
• Uniqueness
• Positive effect on the broader Fantom network and users
• Brand

See the terms and conditions for the program.

About The Fantom Foundation
The Fantom Foundation is dedicated to growing and supporting the Fantom ecosystem and its technology. Our worldwide team is made up of engineers, scientists, researchers, designers, marketers, and entrepreneurs who share  the same vision to advance the industry forward with the Fantom blockchain.

About Fantom
Fantom is a high-performance blockchain that supports smart contracts. Developers can build scalable applications with low fees while taking advantage of the full security offered by the Fantom Network.

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SOURCE Fantom Foundation