Companies are racing to capture the intersections between Web3, AI, DePIN, RWAs, and more, which is why iExec is investing in developers.
In a crowded race to integrate blockchain with real-world industries, iExec is taking a direct approach by launching a dedicated fund for developers, ethdaily.net can exclusively report. On Wednesday, DeFi platform iExec announced a 1 million RLC ecosystem fund, equivalent to approximately $1.22 million.
The fund will support developers working in key industry sectors and will mostly back projects in key areas such as decentralized physical infrastructure, artificial intelligence, and decentralized finance. Additionally, projects focusing on real-world asset tokenization, social finance, and privacy-preserving technologies are also eligible to apply for funding.
iExec to back projects that focus on privacy
The focus will be on projects that are building novel solutions in DePIN and AI, with an emphasis on privacy protection. In addition to financial support, selected projects will gain access to mentorship, iExec’s network of strategic partnerships, and a suite of resources, including developer tools and its software development kit, to streamline the process of bringing their applications to life.
“We invest in conviction, not consensus, and with the launch of the RLC Ecosystem Fund, we’re confident we can add real value by backing the builders defining the future of AI and DePIN, one that puts privacy first. More than just an investment, the fund is a catalyst for meaningful impact and real-world adoption,” iExec CRO, Nathan Chiron.
The fund will be distributed through a mix of dilutive and non-dilutive investments, allowing projects to negotiate whether the investment will affect their equity structure by increasing the number of outstanding shares.
Decentralized physical infrastructure is focused on building and expanding the physical layer of infrastructure across sectors such as telecommunications, transportation, and cloud computing. It leverages blockchain mechanisms to enable users to collectively operate, maintain, and benefit from these networks.