Web3 Foundation Approves 400 Polkadot Project Grants

The Web3 Foundation, the organization responsible for granting Polkadot, has approved 400 projects. Since its launch in December 2018, the Web3 Foundation (W3F) has received hundreds of applications from projects looking to build in the Polkadot ecosystem – the foundation has approved approximately 40% of these applications.

The foundation reported that 1,054 funding applications were submitted, 415 of which were approved. The scope of these projects varies greatly, encompassing the entire Web3 stack, from the base layer to middleware and consumer applications. Projects funded by the Web3 Foundation range from wallets, development tools and APIs to smart contracts and user interface development.

The foundation stated that 181 teams have completed at least one project, and 300 have successfully reached their first goal. The Web3 Foundation's funding recipients were fairly evenly distributed around the world, with 14% of the teams hailing from the US, 13% from China, 8% from Singapore, and countries such as Australia, Japan, and Argentina were also represented.

Image: Bitnovo Blog