Offchain Labs invites Web3 projects to join via a signup form.
Arbitrum, developed by Offchain Labs, launched in 2021
Photo Credit: x/ @arbitrum
Arbitrum, a Layer-2 blockchain on Ethereum, has launched "Onchain Labs," a new initiative to support early-stage Web3 projects. Designed for experimental and high-risk ventures, the programme offers industry guidance and technical assistance while strengthening Arbitrum's network for decentralised applications. Developed by Offchain Labs, the initiative is a collaboration with the Arbitrum Foundation, which oversees the ecosystem's growth and stability.
Arbitrum describes itself as a 'technology suite designed to scale Ethereum,' enabling developers to build dApps that process transactions faster and at lower costs.
According to an Offchain Labs blog, early-stage Web3 projects joining the initiative can customize Arbitrum's offerings to assess their app's feasibility and scalability. Essentially, the company will serve as a key contributor, providing streamlined technical support to help these projects evolve into stable, usable solutions.
“Through Onchain Labs, we're dedicating resources to support developers looking to rapidly expand the application layer by ideating with them from the ground floor to bring the best user experiences. We'll provide product and Google Tag Manager (GTM) support to these early-stage projects, collaborating closely to help their applications thrive on Arbitrum,” the blog said.
Offchain Labs has launched a signup form for Web3 projects interested in joining the initiative. Internally, the company will select participants, prioritising those committed to fair and equitable launches.
Tandem, the venture capital arm of Offchain Labs, will closely monitor projects joining the Onchain Labs initiative and may choose to invest or acquire them, according to the blog.
Offchain Labs emphasised the importance of ongoing collaboration within the Web3 industry to drive ecosystem growth.
Recently, several established blockchain and Web3 firms have supported emerging projects in crypto, blockchain, NFTs, and the Metaverse. Events like Binance Blockchain Week and India Blockchain Week last year saw industry leaders encouraging startups to engage with established firms through incubators and competitions to deepen their industry understanding.
Coinbase, Binance, Tether, Polygon Labs, and PwC India are some of the other companies working with early stage Web3 projects by providing help with funding, technical support, and mentorship programmes.
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