Opinion: Unlocking the Power of Collaboration in Blockchain Projects
Disclaimer: The author’s views and opinions expressed in this article are their own and do not reflect the views and opinions of crypto.news’ editorial team.
In the ever-changing world of blockchain, one thing remains consistent: the unpredictability of support. While it may appear that we are entering a bullish market with significant institutional investment, thanks to ETFs and tokenization of real-world assets, seasoned blockchain veterans can’t help but feel a touch of unease. The memories of the corporate exodus from the crypto and blockchain sphere during the previous bear market are still fresh.
This feeling of trepidation extends to corporate equity and venture capital as well. VCs have pulled back on their substantial blockchain investments, causing cash flow to come to a standstill. Although there has been a slight turnaround recently with institutional investors showing more commitment, the fear of everything falling apart at any moment remains.
However, when it comes to finding support and backing for their development, worthwhile projects in the blockchain industry have more options than just external investment. Internal support has played a significant role in giving talented developers and innovative projects a platform to thrive. This support often comes in the form of smaller investments, grant programs, or well-known figures in the crypto world acting as catalyst investors for projects built on their networks. Sometimes, even a simple retweet can make a difference in a project’s progress.
The internal investment in the blockchain ecosystem succeeds because of the industry’s inherent sense of community. The culture of “we’re all gonna make it” and open-source development translates into tangible support that is less common in traditional industries. By emphasizing internal growth opportunities, blockchain development becomes less reliant on external capital and interest fluctuations. It showcases the industry’s resilience when it operates on its own terms, regardless of whether VCs are bullish or bearish on crypto.
Apart from accelerators and investments, larger projects are also taking grassroots approaches to foster cooperation, knowledge-sharing, and cross-sector collaboration in the blockchain ecosystem. For example, The Coreum Development Fund has expanded its workshop program across North American universities to encourage students from any discipline to learn about blockchain technology and create a collaborative atmosphere. This initiative aligns with the enterprise-focused Layer-1, which recently concluded the third edition of its grant program for projects building new solutions on its Coreum blockchain network.
Through its grant program, which supports eight projects across various sectors and applications, and its efforts to build bridges between faculties, the Coreum network serves as an example of how industry leaders can foster collaboration and early-stage support for other projects. If successful blockchain networks continue to prioritize knowledge-sharing, incubation, and development, there is untapped potential for innovative projects to thrive.
This also sends a message to developers that there are alternative pathways to secure support, beyond relying solely on external benefactors. While institutional interest in blockchain is undoubtedly encouraging, projects should be aware that it is not their only avenue for growth.
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Institutions have played a crucial role in the maturation of the crypto industry, and this is a positive development.
