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- Protocol Labs and Chainlink Labs collaborate to boost emerging startups in Web3, offering technical support and guidance.
- The strategic alliance promotes development in areas such as DeFi and video games, with resources and advice for projects.
In the blockchain technology sector, strategic collaborations between tech giants can be a catalyst for innovation and growth. A recent example of such synergy is the partnership between Protocol Labs and Chainlink Labs, aimed at fostering the development of emerging startups in the Web3 sector.
.@protocollabs and @chainlinklabs have entered into a strategic alliance.
This alliance will help #Chainlink BUILD members access various developer tools, services, and support, including decentralized storage credits and engineering support.
— Chainlink (@chainlink) January 29, 2024
The Vision Behind Collaboration
Protocol Labs, known for its role in the development of Filecoin and the Interplanetary File System Protocol (IPFS), has shown a continued commitment to the advancement of blockchain technology.
By collaborating with Chainlink Labs, the creators of the industry-leading decentralized oracle solution, Protocol Labs seeks to provide resources and support to startups that are leading the way in areas such as decentralized finance (DeFi), global commerce and the gaming world.
Ruben Amenyogbo, Associate at Protocol Labs Builders Fund, highlighted the importance of providing entrepreneurs with access to cutting-edge infrastructure and expert guidance, emphasizing that these tools are essential to thrive in an ever-changing industry.
How Protocol Labs Will Contribute to Chainlink BUILD
The strategic collaboration between these two entities translates into tangible support for Chainlink BUILD projects. Protocol Labs will offer assistance in multiple areas, including:
- Engineering Support: providing support for technologies such as IPFS, Filecoin, FVM and libp2p.
- Workshops and Advice: Through partner days and consultations with researchers and mentors.
- Credits for Decentralized Storage: Including services such as Web.storage and NFT.storage.
- Talent Development: For select participants from the PL Founders Community.
The Protocol Labs conglomerate, with more than 600 technology startups, extends its expertise in areas such as artificial intelligence, augmented reality and virtual reality. This vast experience is put at the service of Chainlink BUILD projects to enhance their growth and success.
Impact of Protocol Labs’ Builders Funnel
PL’s Builders Funnel has become an essential platform to support builders and startups in the Filecoin ecosystem. In 2023, this program helped to:
- More than 63,000 hackathons in hackathons, generating more than 4,500 submissions.
- 602 grant recipients in various categories.
- 316 teams in accelerator cohorts, raising over $420M in venture capital.
A History of Successful Collaboration
The relationship between Chainlink and Protocol Labs is not new. Since 2021, they have worked together on joint hackathons and grants, bringing innovative applications to life and supporting the Web3 ecosystem. This strategic alliance is a natural extension of this growing support for early-stage startups.
The collaboration between Protocol Labs and Chainlink Labs is a clear indicator of how strategic partnerships can be critical to the development of the Web3 industry. By providing support, resources and expertise, these two entities are laying the groundwork for a more innovative and successful future in the world of cryptocurrencies and blockchain technology.
With their focus on supporting emerging startups, this collaboration not only benefits individual companies, but also drives the advancement of the entire industry