- Polygon co-founder Sandeep Nailwal’s Web3 fellowship program has announced its inaugural members.
- The selected fellows include individuals working on projects ranging from DeFi to AI.
- The project intends to cater to the needs of the selected founders to allow them to focus on building.
Building in any field, including Web3, can be difficult for multiple reasons, including a lack of funding, guidance, and technical support. For Web3, these challenges tend to compound in bear market conditions when there is generally a lack of interest.
In May 2023, Polygon co-founder Sandeep Nailwal proposed the Nailwal Fellowship initiative to tackle these challenges and “bring as many founders into Web3 as possible.” Six months later, the Polygon Labs’ executive has unveiled the first set of beneficiaries.
Web3’s Brightest Stars?
In a tweet on Monday, November 13, Symbolic Capital, a crypto venture capital firm co-founded by Sandeep Nailwal, announced that the inaugural members of the Nailwal Fellowship had been selected, dubbing them “Web3’s brightest stars.”
According to a blog post on the Nailwal Fellowship website, the recent announcement follows a months-long process that saw candidates face multiple interviews. This rigorous process resulted in the selection of eight individuals working on projects ranging from crypto payment solutions to AI. In Monday’s press release, Nailwal expressed excitement about the selection, contending that the program would strip fellows of their burdens to enable them to reach their full potential.
"There's still reluctance from many talented people in web2 to leave their industries or studies to pursue opportunities in the blockchain space. This fellowship is meant to free up the burdens that these individuals face, financial or otherwise, so that they can freely explore their potential in web3. What really excites me about these eight fellows is the diversity of ideas across DeFi, AI, Infrastructure, and Consumer applications - all with an eye towards creating companies that can bring more users into web3."
As part of the program, each fellow will receive a $50,000 grant funded personally by Nailwal. They would also receive support from Symbolic Capital, including technical resources, mentorship from industry leaders, and investor access.
Two slots remain open for female founders in the current class of the Nailwal Fellowship program, which will run for six months.
On the Flipside
- On November 9, Polygon Labs announced the relaunch of its Polygon Village campaign, offering 110 million MATIC in grants to founders.
Why This Matters
The Nailwal Fellowship promises to encourage the development of innovative crypto solutions regardless of crypto market conditions.
Read this to learn more about Polygon’s separate effort to support developers:
Polygon Labs Inaugurates $90M Grant Program for Founders
Polygon Ex-President Ryan Wyatt has jumped ship. Find out more:
Optimism Snags Ex-Polygon Labs President as L2 Battle Rages