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AEVOLVE Labs: aelf’s New Incubator Spearheading Web3 Innovation

Singapore-based aelf launches AEVOLVE Labs to nurture blockchain projects, bridging the gap between Web2 and Web3 with tailored support and mentorship

SINGAPORE, Feb. 23, 2024 /PRNewswire/ — aelf, a high-performance Layer 1, has launched AEVOLVE Labs, an incubator to identify and support promising blockchain projects. AEVOLVE Labs embraces a chain and vertical agnostic philosophy and is positioned to support diverse projects, ensuring meaningful reach and impact across various blockchain technologies and market sectors. Selected projects will be provided with bespoke mentorship, extensive networking opportunities, and funding support – all customised to meet their specific blockchain needs and enhance their innovative potential.

AEVOLVE Labs, aelf's New Incubator
AEVOLVE Labs, aelf’s New Incubator

AEVOLVE Labs is strategically designed to identify and support early-stage blockchain projects building across any blockchain ecosystem, with the aim of realising a highly efficient and interoperable future. Through the incubator, projects will gain access to vital resources and support from aelf. The incubator also serves as a launchpad, enabling aspiring projects to become blockchain-enabled by overcoming common barriers to entry, such as limited domain knowledge, nascent infrastructure, and funding constraints.

AEVOLVE Labs adopts a tailored approach to support the unique requirements of each project, focusing primarily on three critical areas: product-market fit strategy, networking opportunities, and financial support:

  1. Product-Market Fit Analysis: Projects undergo a thorough assessment to ensure market alignment, with AEVOLVE Labs providing advice on marketing and operational strategy that is catered to each project’s success.
  2. Extensive Networking Community: The incubator facilitates connections between project founders and an extensive network of institutions, industry specialists, investment funds, communities and thought leaders in the Web3 space, which allows the exchange of valuable insights and the opportunities to collaborate or list their projects.
  3. Funding and Financial Strategy Support: Participants have the opportunity to seek funding from aelf Ventures’ $50 million Ecosystem Fund, the aelevate Gaming Grant, and external investors, opening the doors for projects to secure the necessary financial backing. Additionally, projects will receive comprehensive advice on revenue projection, fundraising strategies, and developing a sustainable tokenomics model, all aimed at building a strong financial foundation.

“Through AEVOLVE Labs, we want to provide a conducive avenue for projects to innovate within the blockchain space. This requires close collaboration between our team and the projects, and the incubator is structured to help these projects address specific pain points while providing strategic support. We are confident that AEVOLVE Labs will empower these projects to lead, enhance, and develop Web3 use cases that will benefit the entire ecosystem,” said Hazel Zhang, Head of Investment at aelf.

AEVOLVE Labs welcomes projects from diverse sectors, and applicants will be evaluated against predefined criteria to assess their potential value. Once selected, these projects will join aelf’s existing portfolio of incubation projects and participate in an incubation programme for a period ranging from 6 to 12 months.

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About aelf

aelf, a high-performance Layer 1 featuring multi-sidechain technology for unlimited scalability. aelf blockchain is designed to power the development of Web3 and support its continuous advancement into the future. Founded in 2017 with its global hub based in Singapore, aelf is one of the pioneers of the mainchain-sidechain architecture concept. Incorporating key foundational components, including AEDPoS, aelf’s variation of a Delegated Proof-of-Stake (DPoS) consensus protocol; parallel processing; peer-to-peer (P2P) network communication; cross-chain bridges, and a dynamic side chain indexing mechanism, aelf delivers a highly efficient, safe, and modular ecosystem with high throughput, scalability, and interoperability.

aelf facilitates the building, integrating, and deploying of smart contracts and decentralised apps (dApps) on its blockchain with its native C# software development kit (SDK) and SDKs in other languages, including Java, JS, Python, and Go. aelf’s ecosystem also houses a range of dApps to support a flourishing blockchain network. aelf is committed to fostering innovation within its ecosystem and remains dedicated to driving the development of Web3 and the adoption of blockchain technology.

Disclaimer: The information provided in this press announcement is for general informational purposes only and does not constitute legal, financial, or investment advice. aelf makes no representations or warranties of any kind, express or implied, regarding the accuracy, completeness, or reliability of the information provided in this press announcement. Any reliance you place on such information is strictly at your own risk. Blockchain technology and cryptocurrency involve inherent risks, including but not limited to market volatility, regulatory changes, and potential security vulnerabilities. By accessing and using the information provided in this press announcement, you agree to indemnify and hold aelf, its officers, directors, employees, and agents harmless from and against any and all claims, liabilities, damages, losses, or expenses arising out of or in connection with your use of the information or participation in aelevate. aelf reserves all rights not expressly granted in this press announcement.