Grant programs for cryptocurrency builders and artists to watch in 2024

Traditionally, grant programs are associated with science, the arts, and education. However, recognizing the need for technology adoption, the crypto industry is seeing an increase in subsidy programs despite the recent crypto winter. Funding projects and incentivizing builders within the ecosystem is not an entirely new idea. However, in the last three months alone, several prominent crypto companies have announced large-scale funding programs that are open to the public.

When choosing the right program, it is essential to evaluate several criteria.

1. Programs are often tied to specific protocols or infrastructure layers. And will we end up funding projects that are built solely on that infrastructure?
2. Certain programs are aimed only at builders and developers, while others provide funding for cultural projects and artists.
3. Project criteria range from public goods to venture-backed companies and homegrown startups. The size of the project also plays an important role.
4. The voting process is different. Communities often play a large role in the voting process. However, in some cases, our internal team will call the winner.
5. Funding currency. Most projects use their national currency to distribute prizes. For optimism, that's OP. For polygons he is MATIC, etc.
6. Timelines vary widely. We encourage you to follow each project's blog and social media to stay up to date.

Here are some of the most prominent grant programs to consider in 2024.

optimism
OP

The Optimism Foundation, the team behind OP Mainnet (formerly known as Optimism, the Ethereum Layer 2 scaling solution that ranks as the second largest Layer 2 network on Ethereum), has announced a We have launched our first fundraising program called (abbreviated). The Optimism Collective, an autonomous association of Optimism contributors, was tasked with distributing 1 million OP tokens to fund on-chain public goods. According to Optimism's blog post, “RetroPGF is based on the idea that it's easy to determine what things are like.” was more profitable than issuing aggressive subsidies for anything Might be so useful. “Since then, the program has already run two rounds and is in the process of starting a third while experimenting with defining the concept of public goods in the crypto industry and separating funding rounds between different sectors. We are in the process of finalizing our round (Currently We ❤️ The Art program), which is accepting artist applications until January 8, 2024) as well as significantly increasing funding for each round (RetroPGF's current round). (approximately 30 million OP, or approximately $112 million), from NFT contributions to the infrastructure for which the program is accepting applications.
NFT
We welcome applications from both art developers and artists. The scope is currently very broad, and as long as the project is deployed in one of the OP stack chains, the program will accept any submission that meets the outlined criteria. As of now, the program appears to be running about twice a year, with the goal of increasing the amount of funding in each round. The next round will open in spring/summer 2024.

Arbitrum
ARB

Arbitrum is a leading layer 2 network designed to scale transactions on the Ethereum blockchain, with a team split into two parts: Arbitrum DAO and Arbitrum Foundation. The grant program is an ongoing project that features an open-ended grant application process that allows projects to apply for grants at any time as needed. Each phase of the program does not have a set end date, but typically takes approximately three months. This period may be extended until the Arbitration Foundation determines that the objectives of that particular stage have been achieved. The Arbitrum Foundation grant program primarily focuses on the ecosystem of developers and builders contributing to the infrastructure layer, tools, and apps.According to the program's website, “For grants related to education, events, and community projects, please coordinate directly with the DAO.” Take advantage of the latest Short-Term Incentive Program (STIP)
tips
, Arbitrum DAO voted to add more than 21 million ARB to its original budget, bringing the total to 70 million ARB (approximately $127 million). More than 30 projects were selected for funding this cycle. However, it is unclear when and how the next round of funding will be distributed.

polygon
Matic

Polygon is another layer 2 scaling solution that aims to improve Ethereum's scalability using a layered architecture. Polygon Labs has reimagined Polygon Village, a new place for grants, mentorship, and networking for Polygon ecosystem developers. The team announced in November 2023 that it will launch a grant program worth more than 110 million MATIC (approximately $100 million). The program utilizes a secondary funding approach and has three tracks available, with more to come soon. Two of the three stacks have just closed their applications, and the third stack he plans to reopen in February 2024. The amount of funding provided per stack ranges from 100,000 MATIC to 170,000 MATIC (approximately $100,000 to $170,000) per team.

base

The base is Ethereum
Ethereum
L2 solution powered by Coinbase. As the youngest chain among all the chains mentioned above (Base officially launched only in his summer of 2023), Base is still experimenting with grant programs. Builders Grants is currently recruiting contractors. “This is a small grant for builders with early ideas and early prototypes who spend their nights and weekends hacking away,” the show's webpage says. Funding ranges from 1 to 5 ETH (approximately $2000 to $10000) and is focused on projects that aim to bring more users on-chain. The submission process is very easy and the judging team is an internal team of builders at Base. Base grants are the smallest of those mentioned above, but are ideal for individual builders and those experimenting with bringing their ideas on-chain.

Whether through traditional upfront grants or retroactive models, initiatives like this allow independent, non-venture-backed projects to emerge and contribute to the larger cryptocurrency ecosystem. If resources are used strategically, builders funded by such programs may be able to maintain healthy growth while developing publicly available products. In the decentralized spirit of the crypto space, grant initiatives play a special role in technology advancement, smart contract development, and the proliferation of decentralized applications (DApps). These grants often come with expert guidance, access to a network of industry leaders, and technical support, greatly reducing barriers to entry into the field. After all, grant programs are often more than just a financial lifeline, they are incubators for future industry breakthroughs.

Disclosure: I may own NFTs and tokens from the artists and projects I write about, but they were all purchased with my own funds.