Accelerators supporting startups that focus on or utilize non-fungible tokens, here described as NFT startups, include both newly established Web 3 accelerators as well as historical players in the accelerator space. In addition, many of these accelerators are associated with venture funds that have invested in NFT startups.
Accelerators are a well-developed funding and development approach allowing venture capitalists and seed investors to be heavily involved in a startup’s early stages with the hope of outsize profit-taking at a later date. Most of the accelerators designed for or including NFT-related startups appear to be mostly the same old system with some adjustments related to Web 3. For example, some accelerators specify up front that if one releases a token, they want a percentage of that as well as equity in one’s company.
That said, sometimes established methods work well regardless of one’s favored programming language, technological paradigm or ideological perspective.
NFT Startup Accelerators
This brief guide, organized by upcoming deadline date, focuses on accelerators with a history of accepting NFT startups. However, many accelerators in the crypto or blockchain space are worth contacting since they would have domain expertise.
As the inclusion of some of the most well-established accelerators indicates, there may also soon be interest from funding sources without a history of funding Web 3 startups. However, one should make sure that accelerators without such history include advisors with domain expertise.
Though locations of home offices are included, most accelerators are currently operating in remote mode.
Outlier Ventures Base Camp – London – Deadline: March 12
The accelerator provides “$50,000 of immediate funding in exchange for 6% of your company and/or 6% of token supply.”
Outlier Ventures is one of the most active accelerators in the blockchain space and appears to be ramping up its operations. In addition to supporting Ethereum, which plays an outsize role for NFT startups, Outlier accelerated Crucible, Linkdrop, Chainlink and the Boson Protocol.
Y Combinator – San Francisco – Deadline: March 19
The accelerator invests “$125k on a post-money safe in return for 7% of the company when the safe converts.”
Boost VC – San Mateo, CA – Deadline: May 21
The accelerator invests $500,000 for 15% equity.
Boost VC played a major role for blockchain startups and also worked with both Ethereum and Protocol Labs. In addition, Boost accelerated Nifty Gateway, Decentraland, districtOx and Unstoppable Domains.
CV Labs Incubator – Zug, Switzerland – Applications Currently Open, Deadline Unspecified
The incubator invests up to $125,000 for 10% equity.
500 Startups – San Francisco – Rolling Applications
The San Francisco accelerator invests $150,000 but charges $37,500 for the program which can be deducted from the investment amount resulting in $112,500. 500 Startups takes approximately 6% equity.
Most of 500 Startups’ involvement with blockchain technology focused on cryptocurrencies and developer tools however they worked with the Solana blockchain which has a growing role in NFT development.
MouseBelt – San Francisco – Rolling Applications
The accelerator invests up to $250,000 in “resources or cash” in each startup for an unspecified amount of equity.
AC3’s Grow Your Base participated in the MouseBelt Blockchain Accelerator.
Berkeley Blockchain Xcelerator – Berkeley, CA – Deadline Not Announced
The Xcelerator provides extensive support but offers no funding and takes no equity.
IDEO CoLab – Cambridge, Massachusetts – Deadline Not Announced
The venture studio does not specify possible investment or equity requirements.
Long Hash Ventures – Singapore – Deadline Not Announced
The accelerator does not provide funding but does help with program participation expenses and will “ask for some incentives upon successful fundraising.”
Mintable participated in the Long Hash Ventures accelerator.
Please contact Clyde F. Smith with additional NFT startup accelerator or funding news.