In a major endorsement, the acclaimed Silicon Valley-based NFX Guild announced its partnership with Synereo in developing an ecosystem of decentralized applications (dApps) on top of Synereo’s Blockchain 2.0 platform.
NFX Guild announced the Blockchain 2.0 Program within the Guild, where it will select up to 3 teams that are actively building their dApps using Synereo’s tech stack for the coming class of the NFX Guild accelerator.
The exclusive program is accessible only to a select few of the most promising teams. To kickstart the program, NFX Guild and Synereo will invite developers to participate in a hackathon, presenting and developing their ideas for Synereo-powered decentralized applications. Winners of the hackathon, as well as handpicked Project 11 laureates, will be invited to apply to the prestigious NFX Accelerator Program. Accepted teams will receive $120,000 in investment funds from NFX as well as an AMP grant from Synereo.
James Currier, Managing Partner at NFX, explained the Guild’s decision to choose Synereo’s technology for the project, stating:
“If you do the analysis, Synereo comes out as the superior platform for developing decentralized apps. It runs fully distributed instead of massively replicated. It’s JVM top to bottom rather than Python. It’s forward compatible, vs other platforms anticipating multiple hard- forks. Synereo has the identity layer built in which provides distribution advantages and network effects. Lastly, fine-grained concurrency, vs other platforms’ linearity, provides greater speeds and scalability”
The NFX Guild is a program and an alumni group led by the leading experts for network effects, a key aspect of creating sustainable, defensible digital ecosystems. NFX recognizes that Synereo is a major player in the decentralized economy, focusing heavily on creating opportunities for network effects for new applications in the decentralized paradigms, and, perhaps more importantly, between decentralized applications.
“We have been looking at digital currencies, Blockchain, and the decentralized economy for over a decade. We’ve been looking for a time and a group that was not just cryptonerds, but that was practical, who wanted to build applications, who wanted to make it about the users experience of something great – not just about the technology and the math. The Synereo team has that balanced perspective, and we’re looking for practical, growth oriented founding teams with the same approach to build apps on the Synereo platform.”
James Currier, Managing Partner, NFX Guild
The potential for network effects in Synereo’s ecosystem, facilitated by this joint venture, cannot be understated. As walled gardens become a thing of the past, each new dApp in the Synereo ecosystem means more functionality and more users in the decentralized economy, creating value for all participants and for each new application developer.
“We found the Synereo team to have a unique combination of cryptocurrency and modern digital finance understanding alongside a real understanding of developer requirements and the know-how of how to build strong developer tools. We strongly believe this combination puts Synereo in a great position to be the leader in the adoption of blockchain tech into the everyday world.”
Gigi Levy-Weiss, Founding Partner, NFX Guild
NFX Guild is a mentorship-driven startup accelerator founded by partners and long-term tech investors James Currier, Gigi Levy-Weiss, and Stan Chudnovsky. The Guild has financial backers including CRV, Shasta Ventures, and Greylock Partners. NFX Guild selects portfolio companies through scouts as compared to an open application process. The organization focuses on businesses that rely on network effects, and holds two annual programs for startups in Silicon Valley.
Dor Konforty, Synereo CEO, at NFX Guild’s Demo Day
Synereo has recently graduated from the NFX Guild’s unique accelerator program, while receiving significant investments and enjoying the wisdom of these tech industry veterans. The NFX Guild shares our vision of a freer and fairer internet and the new economy emerging on it, and endorses Synereo as a major actor in this field. Placing a safe bet on the decentralized paradigm, NFX will invest resources, efforts and time in accelerating the development of an array of applications deployed on top of Synereo, heralding the age of the Decentralized Web.
Thank you for your attention,
— The Synereo Team.