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If there’s one thing to count on in the blockchain world, it’s support that you can never count on.
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While it may seem like we are entering a bull market full of substantial institutional investments thanks to ETFs and real-world asset (RWA) tokenization, any blockchain veteran would be right to feel a tinge of fear. After all, it’s easy to remember the exodus of companies from crypto and blockchain as a whole during the last bear market.
That fear also extends to corporate assets and venture capital, where cash flow came to a standstill as VCs reined in their large blockchain investments. There has been a bit of a turnaround recently as institutional investors appear to be more involved. However, the feeling that the bottom could fall out at any moment still lingers.
While external investment in the blockchain ecosystem may seem precarious, it is not the only way valuable projects can find support and support for their development. In fact, the blockchain industry has a long history of internal support to give a platform to talented developers and innovative projects.
Typically, we see this kind of internal support happening through smaller investments, grant programs, or big names in crypto acting as catalyst investors in projects that build on their network. In some cases, a simple retweet can make a difference in the progress of a project.
Internal investments – whether through capital injections or non-monetary support such as accelerator programs or mentorship programs – are succeeding in the blockchain space because of the inherent community aspect of the sector. When slogans like “we’re all going to make it” and open source development are ingrained in blockchain and web3 culture, this translates into material support that is less common in traditional industries.
Likewise, emphasizing internal growth opportunities decouples blockchain development and progress from external capital and interest rate fluctuations. If progress can happen regardless of whether or not VCs feel bearish on crypto, then this shows how resilient the sector is can when it operates on its own terms.
However, in addition to investment accelerators, there are also larger projects conducting field work to build collaboration, knowledge and cross-sector collaboration across the blockchain ecosystem.
For example, the Coreum Development Fund recently expanded its workshop program at universities across North America to encourage students from every discipline to learn more about blockchain technology and foster a collaborative atmosphere. This initiative also coincides with the enterprise-focused Layer-1 concluding the third edition of its grant program for projects building new solutions and tools on its Coreum blockchain network.
Through its grant program, which includes eight projects covering a wide range of sectors and applications using Coreum as a foundation, and its initiatives in higher education to build bridges between faculties, the network is just one example of how industry power players can promote collaboration and early collaboration. -stage support for other projects.
If successful blockchain networks continue to embody this mindset of knowledge sharing, incubation and development, there is a source of untapped potential for innovative projects.
It also shows developers that there are alternative ways to strengthen support without relying on external benefactors to move the industry forward. So while robust institutional interest in blockchain is undoubtedly encouraging, projects need to know that this is not their only opportunity to grow.
Read more: Institutions have forced crypto to mature, and that’s a good thing | Opinion
