Entrepreneurs wanting to leverage Web3 for business growth have the chance to do so with funding of up to $100K each through the Guardians Phygital Grant program. ChainGuardians, a blockchain gaming company, has committed a total of $1M in grants to help entrepreneurs looking to enter the Web3 space.
Web3 Is Transforming the Way We Do Business
It’s not just hype. Web3, despite the challenges and risks, is bound to bring transformative change across industries. The uses and applications of this nascent technology continue to enable businesses to quickly adapt to the evolving needs of an increasingly digital world. Businesses with younger audiences in particular will do well to increase interaction on Web3 as digital natives are more open to exploring new technologies.
The metaverse, which encompasses the virtual worlds and digital assets built on Web3, is now easing into the mainstream. It is reimagining the way we use the Internet and the way we do business.
In fact, an Accenture survey shows that 71% of global executives believe that the metaverse will have a positive impact on their organizations, while 42% believe the metaverse will be a breakthrough or transformational. ChainGuardians is leveraging this technology through Cryptoverse, its own blockchain-powered metaverse.
Web3 has also spurred phygital experiences that merge physical and digital realities. Take for instance ChainGuardians’ Phygital Meta Streetwear Collection. Virtual immersion technology enables users to wear the clothing both in the real world and use it on their avatars. These limited edition phygital items come with NFT chips that grant special utilities in the metaverse. Experiences such as these attract more consumers and ultimately impact business growth.
Guardians Phygital Grant: An Impetus for Entrepreneurs Entering the Web3 Space
While Web3 offers entrepreneurs limitless opportunities, navigating the space can be daunting. To provide entrepreneurs with the impetus they need to enter the Web3 space, ChainGuardians has committed one million dollars in grants through the Guardians Phygital Grant.
“We believe the Web3 metaverse is the future of the internet and we are here to promote the adoption,” said ChainGuardians co-founder and CEO, Emma Liu, in a press release shared with ARPost. “ChainGuardians is dedicated to playing an increasingly pivotal role in the creation of an open metaverse that delivers real-world implications.”
Aside from the initial financing to integrate and incubate their business ideas into Web3, selected entrepreneurs will also receive guidance from the ChainGuardians expert business panel. This will help them build and launch their business in the metaverse, so they can increase brand awareness, reach untapped audiences, and open new revenue streams.
Guardians Phygital Grant program will award the first two $50k grants to fashion brands who seek to join Web3. Influencers, luxury brands, and fashion-based businesses can send their applications until November 30, 2022. They simply need to fill out the application form with their contact details, short summary of why they want to join Web3, and choose from the Web3 activations for the funding.
Web3 activations for the fashion sector include Digital Wearables, Metaverse Fashion Experiences, AR Fashion Experiences, VR Fashion Experiences, and Phygital Experiences. ChainGuardians will review the submissions and choose five finalists for interview. The two grant winners will be chosen by the entire ChainGuardians community.
Guardians Phygital Grant program is set to launch other $100K grants in the future for different business sectors including wine and spirits, toys, electronics, and music. Their target is to award grants to entrepreneurs from ten different sectors.
Web3 Has the Potential to Drive Business Growth
With its decentralized infrastructure that gives users more control, Web3 has the potential to drive business growth. Entrepreneurs with innovative business models will thrive in the digital world as they quickly adapt to the ever-changing needs of modern consumers.
Through ChainGuardians’ Guardians Phygital Grant program, more entrepreneurs can be motivated to enter the Web3 space. To further accelerate growth in this space, global brands must follow suit and provide funding for startups and entrepreneurs tapping into the third-generation internet and metaverse.
