Investing.com – The Web3 Foundation has awarded a decentralized grant to Deep Ink Ventures, a blockchain consultancy and infrastructure builder with a focus on the ecosystem.
According to a press release, the grant reflects the Foundation’s support for Deep Ink Ventures’ approach to venture development and community engagement within the Polkadot network.
Deep Ink Ventures prioritizes MVP-focused development, fast time-to-market, and scalable business models within the Polkadot ecosystem. Their approach combines traditional enterprise development with a community-driven, decentralized model, where the blockchain community votes on projects.
The Web3 Foundation, Polkadot’s development agency, is dedicating a prize pool of 10 million DOT tokens, approximately $65 million, to support the launch of the Join-Accumulate Machine (JAM) upgrade for the Polkadot ecosystem.
The initiative seeks to create a decentralized network capable of handling a wide range of computational tasks within the Polkadot ecosystem. To qualify, participants must meet specific criteria such as importing and producing blocks, meeting performance standards on Kusama and Polkadot, and passing security audits.
Deep Ink Ventures Studio operates in six-month cycles, launching new companies every four months. Each cycle begins with a community-driven process where startup ideas are proposed, voted on, and refined. Selected projects are then developed with the appointment of a Founder-in-Residence, who leads the company through the initial stages of MVP development, business planning, and investor engagement.
Deep Ink Ventures is also known for its expertise in developing Substrate, Ink! smart contracts, and the EVM. Companies launched through its studio benefit from access to investor networks, partnerships, and proprietary products such as Genesis DAO.
The next step on their roadmap is to expand into a seed fund and venture building firm, supporting blockchain startups by attracting diverse investors including VCs, angel investors and enterprises.
