New crypto startups forged ahead during Alliance DAO’s demo day on Wednesday amid the FTX implosion.
“This is actually worse than the 2018 bear market,” Qiao Wang, a core contributor at Alliance DAO, said, referring to the tentative plans for Binance to absorb competitor FTX. “Today, everyone was caught off guard, myself included … the last three months of working closely with our founders in All9, I’m hopeful again. It’s people like them that will push our industry forward.”
The most recent cohort, known as All9, for Alliance DAO, a web3 accelerator and builder community, presented their ideas on Wednesday during a demo day, exclusively covered by TechCrunch. It seems like it was just yesterday that we covered Alliance DAO’s previous demo day, but four months have passed.
Twice a year, Alliance DAO brings in web3 founders for a three-month program. To date, Alliance DAO alumni have created more than $10 billion in market capitalization, Wang said. There were about 953 applications for this cohort, but only 17 teams were chosen and graduated from the program.
Many of the teams are looking at improving crypto themes like proof-of-physical-work, wallet experience for everyday users, product-driven protocols, crypto B2B products, on-chain data and verticalization, Wang said. “The cohort is a fairly representative sample of what’s happening in the industry at large.”
The cohort focused on a range of subsectors and products across web3, like authentication, liquid staking, crypto wallets and decentralized machine learning, among others. About 38% of the startups focused on the Ethereum ecosystem, while Polygon made up 21% and Solana 17%.
Mentors include Colleen Sullivan, co-head of ventures at Brevan Howard Digital; Mike Dudas, founder of LinksDAO, The Block and an investor for 6th Man Ventures; Anatoly Yakovenko, co-founder of Solana; Ryan Selkis, founder and CEO of Messari; Mounir Benchemled, founder of ParaSwap; Amir Bandeali, co-CEO of 0x Labs; and Ryan Wyatt, CEO of Polygon Studios.
Here’s a breakdown of the 17 startups:
Company name: Ora
Company name: Mensari
Company name: Tensor
Company name: Raleon
Company name: Spexigon
Company name: SlashAuth
Company name: Stride
Company name: Ethos
Company name: Chain ML
Company name: Legends of Venari
Company name: Sort
Company name: Persona
Company name: Ostium
Company name: Slise
Company name: Space and Time
Company name: 0xPass
Company name: Niural
Source @TechCrunch
