© Reuters.

Web3 startup accelerator Cronos Labs has launched the third cohort of its accelerator program, which aims to support early-stage projects by providing funding opportunities and mentorship. The scheme is backed by $100 million in investment that will be used to support crypto startups.

In an announcement sent to Cointelegraph, Cronos Labs highlighted that the accelerator’s goal is to nurture startups that have the potential to “shape the future of Web3.” Furthermore, Cronos is looking for projects that focus on creating practical use cases that can push the adoption of decentralized applications (DApps) that can attract genuine users rather than bots.