Web3 firms to support ecosystem development through grants amid market uptick

The Worldcoin Foundation rolled out a $5 million grant to support its community through WLD tokens or stablecoins.

As Bitcoin (BTC) soared past the $40,000 mark and brought the total crypto market capitalization to $1 trillion, Web3 firms have started to roll out grants to support the development of the blockchain ecosystem. 

On Dec. 6, the Worldcoin Foundation, the organization behind the popular Worldcoin (WLD) project backed by OpenAI CEO Sam Altman, announced a $5 million community grants program dubbed “Wave0.” The grants will be disbursed through WLD tokens or stablecoins like USD Coin (USDC).

The grant program focuses on various projects such as community organizers, event sponsorships and hackathons. In addition, the organization also has other grant tracks that will focus on funding bigger projects. 

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