According to Alchemy, falling crypto prices is a good opportunity to support new developers entering the crypto space. Blockchain developer platform Alchemy will start applications for funding up to $50,000 on Monday. Funds will be awarded to those whose applications are accepted in mid-July. Although the collapse in crypto prices has caused many companies to lay off their workers and downsize their projects, Alchemy sees this period as a time for the development of Web3 projects.
Alchemy will finance the grant initiative from its own capital for the allocation of funds. Projects focused on increasing the utility of Alchemy NFTs will be primarily funded.