Web3-focused Beacon Launches Flagship Demo Day with 13 Crypto Startups MastStatus

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We are only in the second week of 2023, but the demo days have already begun as founders try to keep momentum alive in the ever-changing crypto market.

Beacon, an early-stage web3-focused accelerator program, launched last year and its flagship cohort has just graduated. The teams in the first cohort, known as Cohort 0, presented their ideas on Tuesday during a demo day hosted exclusively by MastStatus.

“For Cohort 0, we talked to over 1,000 projects to end up with 15 companies in Cohort 0, 13 of which graduated on our Demo Day,” Sandeep Nailwal, Beacon core contributor and Polygon co-founder, told MastStatus. “With the current number of applications for Cohort 1, we plan to land at a similar acceptance rate of 1%.”

The three-month program runs twice a year and accepts approximately 15 to 20 applicants for its fall and spring cohorts.

“We feel that Cohort 0 is our Beacon MVP,” said Nailwal. “So for this cohort, we hand-picked our favorite teams by taking phone calls with founders who were sourced through our networks.”

Mentors include Jack Lu, CEO and co-founder of Magic Eden; a handful of venture capitalists; Rob Behnke, co-founder of Halborn; Brendan Farmer, co-leader at Polygon Zero; Dan Kim, VP of business development and listing at Coinbase; and Miles Anthony, CEO and co-founder of Decentral Games, just to name a few.

For the next cohort, there will be a standard investment of $250,000, with an after-money valuation of $8 million for each company in the program, Nailwal noted. In cohort 0, investments were made on a case-by-case basis as the team fine-tuned its process, he added.

Beacon is “chain agnostic,” meaning most teams in Cohort 0 were building cross-chain applications, Nailwal said. However, Ethereum topped the list for most of the teams building on that blockchain. Of the 13 companies, 29 were founders in nine countries and 13 cities, Kenzi Wang, core contributor at Beacon and co-founder of Symbolic Capital, said during the demo day.

The startups focused on a range of crypto subsectors such as gaming, infrastructure, decentralized borrowing and lending, and developer tooling, to name a few. Nearly all of the startups in the cohort are in the seed stage, with the exception of one company, Community Gaming, at Series A.

Here are the details behind Cohort 0’s 13 startups:

Company Name: Arcana

  • What it does: Web3 developer toolkit
  • Founders: Mayur Relekar, Aravindh Kumar
  • Stage: Seed
  • The pitch: Arcana wants to help supplement the technology stack for developers with tools to help build secure decentralized applications (dApps). The core tools include user authentication, data storage on the decentralized network, and access control. The platform aims to enable developers building applications on “almost any chain” to leverage its services and tools.

Company Name: blinkmoon

  • What it does: Game development studio
  • Founders: Hugh Behroozy, Hajeir Mazinani
  • Stage: Seed
  • The pitch: Blinkmoon is building an independent game development studio to focus on the growing web3 sector. Before that, the team members helped create the visuals for “Guardians of the Galaxy” and “Game of Thrones”, and worked on game franchises such as League of Legends: Wild Rift, NBA, the Dead Rising and Rainbow Six, to name a few couple.

Company Name: ChapterX

  • What it does: Web3 event experience
  • Founders: Chase Guo
  • Stage: Seed
  • The pitch: ChapterX is a web3 event experience platform that aims to offer organizers the opportunity to turn their events into unique experiences. The startup offers options to engage participants through physical events or customizable virtual worlds in the metaverse with aspects such as decentralized autonomous organization (DAO) governance or GameFi. Users can also convert their 2D NFTs into 3D avatars through the re-skin system and discover new worlds and join communities through the network.

Company Name: collection

  • What it does: GameFi ecosystem
  • Founders: Abhay Aggarwal
  • Stage: Seed
  • The Field: Colexion is a card-based GameFi ecosystem that aims to bring Web 2.0 games into the web3 ecosystem through fantasy-focused content. The system, Colexion Core, offers a host of services such as minting coins, marketplaces, bridges, wallets and more to help traditional games navigate the web3 world. The company is focused on the Asia-Pacific region and has more than 15 million active users in more than 10 countries, according to its website. Colexion is backed by Polygon, Alan Howard, Jump Capital, Symbolic Capital, Firestarter, and GSR.

Company Name: Communal gaming

  • What it does: Esports platform
  • Founders: Chris Gonsalves
  • Stage: Series A
  • The pitch: Community Gaming aims to be an all-in-one esports competition platform that provides infrastructure for industry players. The platform is powered by Ethereum and Solana-based blockchain payment technologies and provides players, organizers, and game developers with tools to create, facilitate, and participate in esports tournaments. It also allows users to monetize their gameplay by completing missions, a daily content engine for income and game discovery.

Company Name: cubist

  • What it does: Web3 developer tools and infrastructure
  • Founders: Ann Stefan, Deian Stefan, Riad Wahby, Fraser Brown
  • Stage: Seed
  • The pitch: Cubist is a developer tools and infrastructure provider that aims to bring current software engineering practices and security to web3 builders. The toolkit aims to provide more secure and secure options so that developers can easily build, test, and deploy multi-chain, multi-chain dApps. The founders include a former COO of fintech and computer science professors from Carnegie Mellon University and UC San Diego. The team members have spent their entire careers retrofitting security for real-world systems and have collectively published more than 80 research papers on related topics such as computer systems, programming languages, security, and cryptography.

Company Name: FastLane

  • What it does: MEV solutions for Ethereum-based blockchains and rollups
  • Founders: Alex Watts, Jordan Hagan
  • Stage: Seed
  • The pitch: The FastLane protocol focuses on monetizing validators, increasing effectiveness for algorithmic merchants, and reducing stress for network participants when they are overwhelmed by redundant transactions without having to run custom software on validating nodes. installed or managed. The protocol aims to reduce transaction spam and improve the overall health of the Ethereum network by monetizing propagation bottlenecks in the Layer-2 Blockchain Polygon and distributing the rewards to the validators involved.

Company Name: Meta monkeys

  • What it does: Web3 game
  • Founders: Taylor Shim, Nicholas Carr
  • Stage: Seed
  • The pitch: Meta Apes is a free-to-play and win-to-earn mobile web3 game built on the BNB Application Sidechain (BAS). Players have the opportunity to build their own cities and communities as they compete and explore others to win the “race to space”. The game aims to combine traditional game elements, such as Massively Multiplayer Online (MMO) strategies, and web3 elements, such as in-game currencies. The team has worked at places like Ubisoft, Gameloft, Zynga, AppLovin, and Epic.

Company Name: Mystical moose

  • What it does: Web3 gaming developer
  • Founders: Mike Levine
  • Stage: Seed
  • The pitch: Mystic Moose is a web3 platform, gaming studio and publisher founded by a team of gaming veterans who have worked at Activision, LucasArts and Electronic Arts. The first game, Planet Mojo, is built on top of the Sumatra scalable backend platform and is a browser-based server of interconnected games. The automatic chess game, Mojo Melee, is currently in alpha playtesting and plans to fully launch on browsers and mobile in the first quarter of this year. The studio is supported by Animoca Brands, Republic Crypto and Polygon Studios, among others.

Company Name: Nillion

  • What it does: Web3 infrastructure
  • Founders: Alex Page, Andrew Yeoh, Andrew Masanto
  • Stage: Seed
  • The pitch: Nillion is a web3 infrastructure start-up focused on securing storage, computation and fragmentation of data on the internet. “Nillion is a deep technology infrastructure project,” Andrew Yeoh, the company’s founding chief marketing officer, previously told MastStatus. “As blockchains decentralize finance, Nillion wants to decentralize everything else and the rest of the data.” Founders include ex-employees of Uber, Indiegogo and Hedera Hashgraph, as well as executives from Coinbase and Nike. The company raised more than $20 million from more than 150 investors in December 2022 in a “conscious decision” to avoid concentrated ownership, Nillion CEO Alex Page said in a statement.

Company Name: Davos protocol

  • What it does: Stable asset lending protocol
  • Founders: Varun Satyam, Julian Hayward, Filipe Goncalves
  • Stage: Seed
  • The pitch: Davos Protocol is home to its stable asset, DAVOS, which is stabilized by its monetary policy that balances yield generation and price stability on a weekly basis by using liquid staking, according to its website. It allows users to borrow DAVOS with liquid staking tokens as collateral. Users can also provide stable asset pairs to provide liquidity, yield a farm, and earn rewards. The team aims to promote blockchain technology to mainstream adoption by incentivizing borrowers and strikers through the protocol. Strategic partners include Polygon and Ankr.

Company Name: Time change

  • What it does: Decentralized lending and lending protocol
  • Founders: Ameet Devadas, Harshita Singh, Ricsson Ngo
  • Stage: Seed
  • The pitch: Timeswap is a decentralized lending and lending platform and automated market maker (AMM) protocol powered by Polygon. Key features include flexible interest rates and collateral factors, giving users the flexibility to determine their risk-return profile and allowing users to create any Ethereum-based ERC20 token pool by providing appropriate liquidity. Since its launch in August 2020, the platform has made more than $4 million in loans, borrowings and liquidity volumes under the protocol without any token incentives, according to an August post.

Company Name: Ylide

  • What it does: Decentralized wallet communication protocol
  • Founders: Ignat Shapkin, Kirill Zubkov, Danila Simonov
  • Stage: Seed
  • The pitch: Ylide is a decentralized wallet-to-wallet communication protocol that enables multichain messaging, data storage in smart contracts, and end-to-end encryption. It also has its own email client and tools for developers to integrate communication features into their projects, “as easy as building a Lego set,” the team said.

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