May 16, 2023

Reef Labs is Introducing a $10M Accelerator Program to support Web3 Projects in the Middle East!

Reef Labs is introducing a $10 Million Accelerator Program for Web3 projects, building on the Reef Chain. This initiative aims to assist, foster, and invest in aspiring Web3 developers, teams, and ventures in the Middle East.

The increasing use of blockchain/Web3 applications in the Middle East is paving the way for extraordinary advancements and innovations in this industry. Reef has been substantially making significant achievements in the MENA region and even got rewarded with the Best Ecosystem Award at The Middle-East Blockchain Awards.

Promoting Expansion in the MENA Region:

The Accelerator Program will further Reef's growth ambitions and position Reef as the go-to blockchain in the MENA (Middle East and North Africa) region. Projects and ideas chosen through this program will receive financial backing as well as guidance, promotional support, and business development help from Reef Labs.

Furthermore, these ecosystem projects can utilize Reef's international community, giving their ideas and successes the right exposure.

Reef for Web3 Integration in MENA

MENA’s present geopolitical landscape promotes the growth of region-specific blockchain networks, poised to significantly contribute to the mass adoption of Web3. Reef is perfectly positioned to provide business-level solutions with excellent scalability, affordable transactions, expandable EVM, and on-chain upgrade capabilities; thus encouraging innovative approaches to use blockchain technology. Plus, the exceptionally low entry barrier for dApp developers has made Reef one of the easiest ecosystems to develop upon.

Denko Mancheski, CEO of Reef, commented, “We’re launching the Reef Accelerator Program with the aim of welcoming the brightest minds in the Web3.0 industry. The Reef team has been working with Web3 developers in the Middle East region for some time now, and is extremely excited by the talent and innovation we witness. Through our recently conceptualized Reef Labs initiative, we will choose the best Middle Eastern projects, empower them to realize their full potential and integrate them into the current Reef ecosystem of NFT, DeFi, Metaverse, and GameFi projects. It will also enable us to drive the growth of the Web3 industry in the Middle East and emerge as this region’s de-facto blockchain”.

The Reef Accelerator Program is set to support Web2 companies moving into the Web3 domain in the MENA region and ultimately drive the forthcoming surge of innovation and Web3 integration. This $10 million program is part of the $20 million developer support fund that Reef had previously announced.

Apply for the Reef Accelerator Program here.

About Reef

Reef is an EVM-first blockchain designed to make Web3 accessible for the next billion users. Reef offers high scalability, and affordable transactions, and utilizes Nominated Proof of Stake, extensible EVM, and on-chain upgradability.

Reef is the future blockchain for NFTs, DeFi, and gaming. It can easily accommodate the needs of the future of Web3 development. Reef is an ideal blend of old and new, a trait that makes it eternal and timeless.

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