Silicon Valley NFX Association Partners with Synereo to Accelerate ÐApp Development Team Building

Silicon Valley’s acclaimed NFX Association has announced a partnership with Synereo to build an ecosystem of decentralized applications (ÐApps) based on Synereo’s Blockchain 2.0 platform.

The NFX Association has announced its Blockchain 2.0 initiative, selecting three teams building ÐApps using Synereo’s technology stack for the next generation of the NFX Association Accelerator Program.

Only the best teams will have access to this exclusive program. To kick off the project, NFX Association and Synereo will invite developers to participate in a hackathon to present and develop their ideas for decentralized applications for Synereo. The winners of the hackathon, the selected Project 11 winners, will be invited to participate in the prestigious NFX Accelerator Program. Accepted teams will receive $120,000 in investment funds from NFX and the AMP grant from Synereo.

Managing Partner James Currier said,

“For more than a decade, we have been pursuing digital currency, blockchain, and decentralized economy. We are looking for an opportunity and a group of people. We don’t need crypto nerds, but people who want to take a practical approach, build an application, and make a product with a great user experience, not just technology and mathematics. The Synereo team also has this balanced perspective. Just like the way to build apps on the Synereo platform, we are looking for some practical and growth-oriented teams.”

NFX Associates is a leading expert on network effects, an important aspect of creating sustainable, strong digital ecosystems (see more). NFX has identified Synereo as a major player in the decentralized economy, focused on creating opportunities for new application network effects in the decentralized paradigm, and perhaps more importantly, opportunities between decentralized applications.

The potential for the Synereo ecosystem to foster network effects is immeasurable. As walled gardens become a thing of the past, every new ÐApp in the Synereo ecosystem will allow the decentralized economy to have more functionality and more users, creating value for all participants and for every new application developer.

Founding Partner Gigi Levy-Weiss said,

“We found the composition of the Synereo team to be unique, with an understanding of cryptocurrencies and modern digital finance, as well as an understanding of the needs of developers and a knack for building powerful development tools. We firmly believe that this combination puts Synereo in a great position to lead the way in bringing blockchain technology into our daily lives.”

NFX Institute is a mentorship-driven startup incubator founded by partners and long-time technology investors James Currier, Gigi Levy-Weiss, and Stan Chudnovsky. The Institute is backed by CRV, Shasta Ventures, and Greylock Partners. NFX Institute selects companies based on their progress. The organization focuses on businesses that rely on network effects and hosts two annual programs for Silicon Valley startups. Video

Synereo has recently graduated from the NFX Association’s unique incubator program (see more), receiving generous investment and mentorship from industry veterans. NFX is demonstrating a freer and fairer Internet, and the new economy built on it, and praised Synereo as a major player in the space. To ensure the decentralized paradigm, NFX will invest resources, energy, and time to accelerate the development of applications deployed on Synereo, heralding the advent of the decentralized web.