Key points
- Lumx launches $250,000 fund for Polygon blockchain projects in Latin America.
- Grants support smart accounts, smart contracts, NFTs, and access to third-party products.
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Web3 startup Lumx has launched a $250,000 fund to accelerate on-chain development on the Polygon network in Latin America. The LATAM Acceleration Fund aims to promote Innovation and adoption of blockchain technology through grants for companies that build applications using Lumx APIs on any Polygon blockchain.
The fund will sponsor user transactions with smart accounts, smart contract implementation, NFT creation, and provide free access to Web3 products. Grant applications are open until August 20, 2024.
“Polygon Labs is very excited to support the overall development of web3 in Latin America and we believe that only through the best infrastructure providers can the best use cases be realized,” said Manuel Echanove, BD Director for Latin America at Polygon Labs. “Lumx deeply shares our web3 ethos and is committed to creating use cases that are simply better or feasible through on-chain dynamics on the Polygon aggregated network.”
It is worth noting that three Latin American countries are among the top 20 in cryptocurrency adoption, according to Chainalysis’ “Geography of Cryptocurrency 2023” report. Brazil is ranked ninth, while Argentina and Mexico are ranked 15th and 16th, respectively.
Lugui Tillier, BizDev Director at Lumx, highlighted the initiative's potential to strengthen Brazil's position in the global development of Web3 and catalyze high-level projects in the region.
“Blockchain technology is extremely powerful, but without relevant applications, it is nothing. After several cycles focused on infrastructure, we are entering a cycle of on-chain applications, and Lumx will drive this progress on Polygon! It’s time to build! It’s time to build!”
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