HashKey-Backed L1 Nibiru Chain Launches $15M Funding Initiative to Boost Developer Ecosystem
In a bid to strengthen its developer network and address key challenges in the Web3 space, L1 Nibiru Chain, backed by HashKey, has announced a major funding initiative with over $15 million earmarked for grants.
Founded by Unique Divine, Kevin Yang, and Jonathan Gimeno, industry veterans with backgrounds from Google, Tendermint, IBM, and Sommelier, Nibiru Chain aims to become the first mainstream decentralized multichain solution.
The Nibiru Builder Grants initiative will allocate about 2.5% of its token supply to support development projects, with a significant $5 million grant specifically targeting developers in Asia. Ecosystem partners will also have access to Nibiru’s VCs, offering venture funding opportunities and support to promising projects.
Erick Pinos, Ecosystem Lead at Nibiru, highlighted the company’s commitment to empowering builders driving positive change in Web3. The initiative will provide mentorships, industry expertise, and marketing assistance to enhance project visibility.
In addition to financial support, Nibiru will offer non-monetary benefits such as hackathons with prize pools up to $100,000 and accelerator programs for dApps in Real-World Asset tokenization, Web3 gaming, and DeFi sectors.
Developers will also earn a share of transaction fees each time their smart contracts are executed, creating a positive feedback loop to incentivize high-quality contract production. Nibiru will provide access to auditors, legal firms, accountants, and market makers to support projects from idea to execution.
The initiative includes the introduction of a Genesis NFT, offering early access to upcoming dApps and governance participation through a Decentralized Autonomous Organization.
With a strategic vision focused on sustained engagement and project viability, Nibiru Chain’s funding initiative aims to foster a dynamic and robust developer ecosystem in the Web3 space.
