Filecoin Frontier Accelerator unveils 11 startups to each receive initial $20K

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Filecoin Frontier Accelerator, powered by LongHash Ventures, and supported by Protocol Labs, Fenbushi Capital, and HashKey Capital, announced its launch with 11 startups accepted into the program. Shortlisted projects will each receive USD $20,000 in grant support, and are also considered for further funding opportunities from a USD $1.5 million investment pool, of which $1 million is committed by both Fenbushi Capital and HashKey Capital.

Commenting on the program launch, Colin Evran, Ecosystem Lead at Protocol Labs, said, “Filecoin Frontier is part of a series of 2021 hackathons and accelerators that onboard thousands of talented developers and entrepreneurs to the growing Filecoin ecosystem. The applications and projects launching on IPFS & Filecoin through these programs are forming the key pillars of Web 3.0, moving humanity towards a faster, safer and more resilient web.”

The accelerator program, which starts February, 2nd 2021, and runs until April 2021, features the following 11 startups:

  • Atomica, an automated insurance markets platform for decentralized finance;

  • Curio Digital, a marketplace for tokenized digital collectibles;

  • Filbox, a cloud service provider that helps users encrypt, analyze, visualize, and monetize data;

  • Huddle01, an online classroom platform optimized for video conference engagement;

  • Myel, a community-powered content delivery network;

  • NonEntropy Tech, a video-focused online learning platform;

  • Numbers Protocol, which helps users create tamper-proof records of media content;

  • OPgames, a suite of tools that enables multiplayer competitions in single-player games;

  • Ownership Labs, an open data marketplace for secure, verifiable, private data computations;

  • Vera AI, a service for verifiable enterprise background checks and identity combining blockchain and AI;

  • Sinso Technology, a medical imaging data aggregator that enables telemedicine and AI diagnosis;

“We are passionate about delivering a more secure and fair Internet, and our partnership with Filecoin is a key one as we venture build Web 3.0. Asia continues to set the pace for blockchain adoption and application, and we’re thrilled to ignite the journey of these startups as they translate their ideas into reality. Web 3.0 holds great promise for the ambitious and the talented, and this is only the beginning as we build the next digital civilization.” Emma Cui, Chief Executive Officer and Founding Partner at LongHash Ventures, added.

Over the span of the next 12 weeks, projects will be provided with end-to-end support in areas including strategy formulation, go-to-market execution, and subject matter guidance for technological mentorship, token economics, marketing, and fundraising. Filecoin Frontier Accelerator has also onboarded notable mentors including UNICEF Ventures, HashKey Digital Asset Group, and NGC Ventures.

Ripple (XRP) price crashes over 40% following a failed pump attempt

XRP’s price crashed by over 40% as the traders’ pump attempt failed to push it above $1

The XRP community embarked on a coordinated attack to pump the cryptocurrency’s price higher. However, the pump only lasted for a few days, with XRP briefly reaching the $0.75 mark before losing momentum and crashing down.

The coordinated attack came following a similar move by Reddit members on the GameStop stock, pushing the stock to a new all-time high in the process. A telegram group of over 200,000 members called “Buy & Hold XRP” was created towards the end of last week to push the cryptocurrency to higher resistance levels.

XRP surged by more than 115%  following the retail investors’ efforts, with the cryptocurrency erasing the losses recorded after the SEC lawsuit debacle. However, the group lost momentum, and the cryptocurrency crashed by more than 40%, currently trading at $0.37 per coin.

After reaching a new yearly high, some traders bought XRP in anticipation of a price pump, pushing the price higher. However, the traders are now on the wrong side after XRP sustained massive losses to return to its previous price level.

The Telegram group is still active, with some traders there blaming exchange downtimes for the price drop. XRP momentarily reclaimed its third place in the market following the attempted pump price by the community. However, it has lost its third place to Tether (USDT), while Polkadot (DOT) is closing in on XRP’s market cap.

XRP has been the fallout cryptocurrency since the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and two of its executives for issuing and selling an unregistered security. The cryptocurrency has since struggled to reach the $0.5 mark as several exchanges delisted it to avoid sanctions from regulatory agencies.

Another cryptocurrency that enjoyed the recent coordinated rally from investors is Dogecoin (DOGE). The cryptocurrency surged by more than 1000% to reach a high of $0.0884 last week. Its rally briefly saw it enter the top ten list in terms of market cap. However, it has since lost steam, and it is currently trading at $0.03394 at the time of writing. Despite its decline, DOGE is still up by 310% over the past seven days, making it one of the best-performing cryptocurrencies last month

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