Renowned web3 firm, Animoca Brands has partnered with key companies in the industry to launch a multi-million-pound accelerator in the United Kingdom. The company unveiled the program on Monday via an official blog post.
As announced, Animoca Brands will partner industry leaders like Coinbase, Founder Factory, and Fabric Ventures to launch the initiative. More so, the synergy will focus on transforming the blockchain and artificial intelligence ecosystem of the UK to enhance innovation.
Further, the partners, according to Animoca Brands, are committed to driving investment in AI and blockchain start-ups to usher in a new market era in the UK economy. Consequently, the web3 firm confirmed that the collaboration will also support the growth of “the next generation of market disruptors.”
Furthermore, selected projects will receive a cash injection of £250,000 alongside support from the accelerator program of Founder Factory. In addition, the three partners will work together to ensure that the listed projects enjoy good guidance that will nurture them into successful projects.
Animoca Brands stated that it will focus on crucial aspects like market support, listing, tokenomics, and many others. According to the announcement, the program is available to all startups across different sectors, however, interested participants must concentrate on building a tokenized business model.
The program surfaced shortly after Animoca Brands joined forces with the Hong Kong organ of Standard Chartered to launch a stablecoin. As per a Binbits report, the stablecoin will be pegged at a 1:1 ratio with the Hong Kong dollar.
Animoca Brands urges the UK to become an industry leader in the web3 space
Another key insight from Robby Yung, the CEO of Investments at Animoca Brands established that the UK must embrace opportunities in the web3 sector to become a leading hub. Yung narrated that it is imperative for the UK to be a creator in the web3 space by leveraging talents within its disposal.
Meanwhile, the UK CEO of Coinbase, Keith Grose said the United Kingdom is in a good position to benefit from the vast pool of talents, capital, sophisticated regulators, and renowned academic institutions. The CEO pointed out how limited access to capital, resources, and mentorship has affected the advancement of the blockchain and AI space in the UK. Grose declared that the investment from the three companies would change the existing narrative.
The Business and Trade Secretary of the UK, Jonathan Reynolds emphasized that the program is a reflection of the strong vote of confidence in the country’s technology sector. Similarly, Reynolds said it further underlines the position of the UK as a global leader in tech innovations, adding that the investment will ensure it remains a leader in blockchain technology.
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