We are excited and honored that ArtSquare.io has successfully completed the first cohort of the Algorand Europe Accelerator, led by Eterna Capital and Borderless Capital, in the network-driven platforms category.
Algorand is often compared with other major blockchain protocols like Cardano, Tezos and Ethereum, and although it’s currently the smallest one out of the four, with a market capitalization of around $808 million, it reached 10 million accounts at the end of March 2021.
As the Cointelegraph previously reported, the Algorand Foundation announced its accelerator program in October 2020 as a way to spearhead Algorand-based application development in Europe, which is viewed as a critical fintech hub. As part of the program, successful initiatives will be eligible for up to $500,000 in follow-up investment from both Borderless Capital and Eterna Capital.
A total of 11 startups were selected by Algorand out of 200 applications received, and the accelerator program ran for 12 weeks, from February 1st until the end of April, 2021.
Fabrizio D’Aloia and Francesco Boni Guinicelli, founders of ArtSquare.io jointly stated that “Essential elements provided by Algorand, such as immunity with respect to forking risk, sustainability, low transaction costs, and specific functionality like atomic swaps are helping ArtSquare on its journey to democratize access to the art world” and are thrilled to have taken part in such a disruptive program.
At the end of the 2 months all the startups took part in Algorand’s Demo Day and ArtSquare has received many praises and follow up investments from Algorand as a result of its participation.