K STADIUM, Web3 Competition... Customized Support by Stage

Application Period: January 25 to February 13
Step-by-Step Support in Investment, Consulting, and Technology

K STADIUM announced on the 26th that it will hold the ‘Web3 Ignition Challenge,’ a competition that provides phased investment, technical support, and consulting to Web3 project teams at the idea stage.

The competition is hosted by Cryptid, the operator of K STADIUM, with partners including Certic, Elbank, Pentabase, and Blockchain Today. The core focus is on nurturing and supporting early-stage projects in the Web3 field. As the competition slogan ‘Just Challenge It!’ suggests, participating teams can challenge themselves by submitting business plans and pitching, and will be supported in commercialization through phased investment, consulting, and technical assistance.

K STADIUM has declared an aggressive on-chain expansion of the ecosystem through promising Dapps in the Web3 sector with the goal of stable growth and leap forward in 2024. Through this first step?the competition?it aims to early select Web3 projects at the idea stage and support their growth and commercialization to a feasible level. In the long term, it plans to secure growth engines for the K STADIUM ecosystem.

This competition introduces a pre-investment process attempted for the first time by a DAO VC platform. Over 80,000 users of K STADIUM and new global users will directly participate in the project selection process, and the results will be reflected in the rankings. This structure is directly connected to the essence of K STADIUM, which is community-driven. From the 22nd to the 24th of next month, users participating both online and offline will determine the rankings through voting.

Since this competition selects projects at the idea stage, there are no participation restrictions?from student teams to Web3 projects in various fields. The top 3 projects finally selected will receive a total prize worth $10,000 along with technical and financial support necessary for acceleration and opportunities to participate in the launchpad.

K STADIUM provides phased support tailored to the circumstances of participating projects. Cryptid, a blockchain platform development and operation specialist company, will provide expert technical support in the crypto field required during the process of concretizing ideas, while the K STADIUM community will provide support involving funds and users needed during commercialization.

Yoonseong Park, CEO of Cryptid, stated, "In 2023, K STADIUM laid the foundation of the ecosystem through six investments, the integration of DeFi services such as its own DEX and liquidity protocols, and user convenience enhancements like XRP easy deposit/withdrawal and price comparison functions. In 2024, we plan to focus all efforts on marketing functions to boost ecosystem activities for all users and attract excellent projects."

Meanwhile, K STADIUM executed three community pool investments and two launchpads in 2023. The two presales conducted in the launchpad starting in Q4 last year, each worth $200,000, were both sold out early. In the first half of 2024, K STADIUM plans to launch an IDO, enabling phased investments for Web3 startups entirely within the K STADIUM platform.

Details of the competition and registration are available on the official K STADIUM website. The registration period is three weeks until the 13th of next month.

This content was produced with the assistance of AI translation services.