Although the crypto space is currently in limbo, Aeternity Ventures hasn’t taken backstage in its agenda of promoting, supporting and funding great ideas from the blockchain space. Last year they made investments worth $1.3 million in 9 firms whose ideas impressed them and now this year in their first batch they have chosen four firms set to receive seed capital.
The four are Homeport, Cryptotask, Cryptic Legends and Abend. The four were from a list of 8 finalist ideas which made it to the last leg, but only four came out victories securing funds and mentoring from great minds brought together by Aeternity Ventures. Selection of the four was done in March during Genesis week after four weeks of daily workshops and mentoring came to an end.
While Aeternity Ventures primary goal is to make investments in ideas that are still at infancy stages, its other projects have led to Aeternity receiving more applications this year.
Some great ideas come from Balkans where Aeternity launched a podcast Blockchain from the Bloc (k) which it co-sponsors with its partners. Besides Balkans, Africa is making strides in the blockchain sphere as applications from Africa increased significantly.
In Africa, Aeternity has an Aeternity Hub where meetups and hackathons take place to educate startups with ideas based on blockchain technology. Apart from Africa and Balkans, more applications also come from Germany. The different projects have proved to be beneficial going by the rise in the number of applications. However, there must be winners and losers.
Aeternity team of judges which consists of media and blockchain enthusiasts, funds, VCs and crypto experts had to put all groups on a scale. The judges had to measure how the ideas fit well with Aeternity blockchain, scrutinise clarity of the business idea, and also test the strength of the team behind the idea to reduce the number to only four with Homeport, Cryptotask, Abend and Cryptic Legends emerging as winners. Cryptic Legends is creating a trading card game platform based on blockchain technology.
The platform would be an open market where cardholders can sell their collectable cards. On the other hand, Abend is developing a blockchain ticketing systems to bail out the poorly managed ticketing systems. The two projects depict the kind of ideas Aeternity is after.