Cronos Labs, a blockchain startup accelerator, recently announced the selection of eight projects for its Cronos Accelerator Program, backed by a sizeable $100 million investment. The Accelerator aims to provide mentorship and funding opportunities to early-stage cryptocurrency projects. The selected projects cover an array of areas, including decentralized social networking, smart contract wallet integration, Web3 gaming, and liquid marketplaces for yield-earning opportunities. Cronos Labs has partnered with Amazon Web Services (AWS) to offer AI-related workshops and mentorship sessions to the participants of the program. Additionally, the chosen projects will have access to AWS’ resources, including machine learning and AI services. At the end of the 12-week program, the selected projects will have the opportunity to present their ideas to potential investors at a Demo Day scheduled for late July 2023. Cronos Labs is the blockchain platform by Crypto.com, which introduced its $100 million accelerator program in June to support early-stage decentralized finance and Web3 projects. Despite the long crypto winter, there has been a rise in blockchain accelerator programs focusing on Web3 development. For instance, The Open Network (TON), a layer-1 blockchain developed by Telegram, unveiled a $25 million accelerator program to support projects within its ecosystem. The program also offers valuable partnerships and mentorship from TON’s team.