LongHashX, Protocol Labs to Launch Filecoin Virtual Machine Genesis Cohort, an Accelerator Focused on Web3, AI

LongHashX, which claims to be one of the world’s leading Web3 accelerators with the strong network in Asia, is continuing its partnership with Protocol Labs, the creator of Filecoin and IPFS, in order “to launch the Filecoin Virtual Machine (FVM) Genesis Accelerator.”

The 12-week program, which “comprises the FVM Accelerator Program as well as the FVM Builders’ Fellowship Program, aims to accelerate the growth of 25-30 projects leveraging the power of data programmability now enabled in the Filecoin network through FVM.”

The FVM mainnet successfully “launched on March 14, 2023, introducing smart contracts and unlocking exciting possibilities for diverse applications across AI, DeFi, DAOs, and others.”

In particular, recent AI breakthroughs, “exemplified by models like DALL-E 2, GPT-4, and LaMDA, rely heavily on substantial data, raising concerns about data privacy, centralization, and innovation restrictions.” FVM addresses these issues, empowering open-source AI development and compute-over-data, “fostering a decentralized and collaborative approach to AI development.”

This will be the fourth time “that LongHashX and Protocol Labs work together to support the Filecoin ecosystem’s developer community.” Since 2018, as the accelerator arm of LongHash Ventures, LongHashX has been the pioneer in “partnering with leading Web3 ecosystems to bootstrap developer communities.”

It has worked “with Filecoin, Safe, Neutron, ATOM Accelerator DAO, Axelar, and Polkadot, among others, accelerating more than 75 Web3 projects, including five unicorns, and helping raise more than US$150m in funding.”

Notable program alumni “include Astar, Balancer, Manta Network, Lit Protocol, Huddle01, Tranchess and Peanut Protocol.”

Emma Cui, Founding Partner and CEO of LongHash Ventures, said:

“Filecoin Virtual Machine is a game changer for the data economy. It enables us to reimagine entire verticals, such as truly open AI models and Web3 social apps. This is made possible by novel Web3-native ideas like Data DAOs, to crowdsource and steward content, or compute over data that preserves privacy and data sovereignty. We are very excited to invest in and support early-stage builders on FVM to go from idea to Web3-native startup.”

FVM Genesis Accelerator aims “to identify, fund, and accelerate early-stage Web3 projects with compelling FVM use cases. “With FVM’s general programmability on the Filecoin storage network, Web3 apps can “operate seamlessly, automating processes while referencing data stored on the Filecoin network.”

Ruben Amenyogbo, Partner and FOUNDERS Program Lead at Protocol Lab, said:

“The launch of the Filecoin Virtual Machine is a major milestone for the open data economy. Our partnership with LongHashX is part of our global strategy to drive innovation in this new era of decentralized compute-over-state and compute-over-data. Together, we invest in the architects of future data primitives. I can’t wait to kick off this cohort.”

FVM Accelerator Program

The FVM Accelerator Program will “accept five projects building on FVM, with each project receiving US$200,000 in funding.”

In addition to funding, these projects will receive “a comprehensive Web3-native curriculum and hands-on support.” The 12-week program “includes workshops and fireside chats covering seven modules: Web3 Product Strategy & Design, Ecosystem Deep Dive, Tokenomics & Governance, Community Building, Smart Contract Security, Web3 Legal, and Fundraising. Each project will have a dedicated Program Lead and Venture Builder, who will be a thought partner and meet them weekly for problem-solving sessions.”

Additionally, the selected projects “will gain access to LongHash Web (LHW), an on-chain contribution network, to engage with 100+ prominent mentors in the wider Web3 space, including founders of Safe, Axelar, Balancer; investors at Pantera, Polychain, Multicoin; and contributors at zkSync, Lens, Scroll and Linea. A Demo Day at the end of the program will provide an opportunity for the projects to pitch to investors.”

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