First launched in August 2022, the Hatch Web3 Accelerator is part of the Foundation’s mission to accelerate Web3 Innovation on Hedera. After 5 months and 500+ applicants, the first shortlist saw 20 start-ups - resulting in three winners.
The process of refining the large volume of applicants into one cohort was challenging and rewarding. Five out of the 500+ applications were selected to join a final pitch competition, of which 3 were crowned winners. The evaluation criteria of refinement were: real-world utility, alignment with our funds, novelty, and proven executions.
By adhering to these criteria, the accelerator team was able to deliver the final few startups primed for a continued relationship with the Foundation. So let’s introduce them!
Alive
a.live is an interactive, immersive world for every song to come alive. Through a broad selection of tools to customize virtual worlds, including spatial audio, the team at Alive is enabling artists to perform in the metaverse and further connect with their fans. Worlds can span the range of immersion, from a Minecraft style all the way to something more like realism.
Leveraging digital avatars, users can explore virtual worlds tied to NFT music tracks. For example, one might navigate a dream-like world when listening to ambient music, a darker world whilst listening to punk, and so on.
Users can customize their character, apply visual filters and build custom mounts (rides used to move around the world), and change the music itself. Each song and respective skin, character, and other virtual items are all NFTs built on the Hedera Token Service (HTS).
Similarly to the Donda Stem Player by Ye, users fans can isolate each instrument for every song released on a.live. Building on this feature, Alive will enable fans to remix and mash-up songs by different artists into an NFT they can mint. Revenue that fans make from this can also flow back to the artist based on percentages they set.
Karpine
Karpine is a blockchain & IoT-based supply chain track & trace solution for fashion and luxury retail to create digital twins.
First, users of the platform create a digital twin for each product. This is then linked to a Karpine smart label (QRC/RFID/NFC) and attached to the physical product - enabling tracking of the product in real time.
Alongside facilitating digital twins, Karpine also provides enhanced customer experience as part of a value chain using unmanned checkout and anti-counterfeit solutions. This is a Hedera-first and a very exciting movement in the supply chain space.
Karpine leverages both the Hedera Token Service (HTS) and Hedera Consensus Service (HCS) across both product offerings.
Post-Hedera Hatch Web3 Accelerator, Karpine has transformed from a traditional Supply Chain track & trace solution to a Web3 Value Chain Solution with an entry into layered clothing on Roblox providing a Web3 interface for fashion in the metaverse.
Stream NFT
StreamNFT, is a conditional ownership protocol for NFTs in the Hedera ecosystem. Through their protocol, users are granted conditional ownership and with that the financialization of their NFTs to enable in-game assets, token-gated access, memberships, ticketing, subscriptions, and much more.
The protocol facilitates P2P collateral-free rentals of NFTs, P2P escrow-less loans, and token gated accessing. These features enable the transferring of assets for specified durations, borrowers to take instant loans against NFTs, as well as membership and ticketing opportunities.
Particularly unique to Hedera is the escrow-less transfers, where the NFT is never kept in an escrow account. Rather, it is sent to the relevant address and then the NFT is frozen so that the conditional owner cannot move the asset while using the rent/loan protocol.
Alongside this, transfers are collateral-less. This means there is no need to squeeze liquidity by providing collateral to access rent and loan protocol. StreamNFT protocol transfers NFTs in a secure and restrictive way with pre-determined conditions, eliminating the need for collateral.
Finally, NFT transfers are composable. With an escrow-less transfer, StreamNFT can enable the use of loans and rentals at a time by atomic transactions. Imagine taking a loan and then putting it on rentals to maximize liquidity.
Cohort Two
This cohort is the first of two with Lumos. We were lucky to work with so many high-caliber teams and look forward to engaging with the participants of Cohort Two. Developers and teams can sign up until 30th April.
About The HBAR Foundation
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.
The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems, and create and control their own economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org.
About Lumos Labs
Lumos Labs is an innovation management firm determined to drive Web3 innovations to the forefront in India which is now expanding into a Metaverse with a pioneering solution. Lumos Metaverse, a project still underway, aims to establish a singular one-of-a-kind platform that caters to developers as they learn, earn, and build in it. It will allow them to find global Web3 opportunities which are accessible and will become a talent hub for global Web3 firms. With over 45 programs run with relevant Web3 and blockchain players, such as Binance, CoinSwitch Kuber, Polygon, NEAR, etc, and also with the Government of Telangana, Lumos Labs has build a strong 60K developer community and is focused on solving the challenges faced by them in perpetuity.
For more details, visit - https://www.lumoslabs.co/
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