9 Strong Use Cases For Web3 Grants Application

Blocksurvey blog author
Apr 3, 2024 · 4 mins read

A grant is funding provided by an organization to a project or startup company. It is usually provided when the requester’s project objectives align with those of the provider. Unlike Loans, Grants need not be repaid, making them a very attractive option for requesters.

The Grant requester is required to complete the Grant Application and submit it to the provider for funding. The application asks important questions about the Project Description & Budget, Background Information, and Expected Outcome.

Web3 grants are usually offered by Foundations and other entities from the Web3 Space. They fuel the growth of the Web3 Ecosystem. Below are a few use cases for the Web3 Grants Application. The requester could be involved in any of the following for requesting Web3 Grants.

  • Educational Initiatives
  • Creating Blockchains
  • Bridging Blockchains
  • Decentralized Applications (DApps)
  • Decentralized Finance (DeFi)
  • Decentralized Autonomous Organization (DAO)
  • Non-Fungible Token Projects
  • Privacy Improvement
  • Social Impact Initiatives

Let’s look into each in detail.

Educational Initiatives

One important obstacle to Web3's mass adoption is the lack of awareness about the Web3 landscape. Most Grants Foundations have a specific strategy for Web3 education.

Blockchain, like Ethereum, offers funding (Ethereum Foundation Grants) for organizations that educate people about the Ethereum ecosystem. This type of education results in better adoption of Ethereum in the market, and that’s the reason for the funding. This includes funding for workshops, online courses, developer boot camps, and research projects focused on Ethereum technologies.

You can find here different Grant programs offered by Ethereum. It’s not only Ethereum but other blockchains that can also provide grants for entities targeting educational initiatives.

Funding educational initiatives through grant programs plays a critical role in developing a knowledgeable and skilled community that can contribute to the innovation and expansion of the decentralized web.

Creating Blockchains

Grants provided for the creation of Blockchain is another important use case.

Grants for creating Blockchains are essential for the advancement of Web3 technologies. These Grants help build foundational elements for building Blockchain networks.

Creating a Blockchain involves four important steps. Creating a Block, Adding data to the Block, Hash the Block, and Chaining the Blocks together.

For speed, endurance, and security, most blockchain core engines are built in C/C++ (Bitcoin, EOS, etc.…), Go (Hyperledger Fabric, Ethereum), Java (Ethereum), Rust, Haskell (Cardano) and/or Ruby (Ethereum).

Some blockchain engines combine many programming languages for developers to use robustly and easily. Ethereum is the best example of this.

Bridging Blockchains

Grants are crucial in developing cross-chain solutions, facilitating interoperability among different blockchain networks. These cross-chain solutions are very important for the broader adoption of Blockchain technology. It enables seamless communication, exchange of assets, and execution of smart contracts across diverse blockchain ecosystems.

Grants for developing cross-chain solutions typically come from blockchain foundations, research institutions, and industry consortia committed to fostering blockchain technology's growth and adoption.

For example, Interchain Foundation Grants support projects that provide interoperability between Cosmos and other Blockchains. Web3 Foundation Grants support projects facilitating interoperability between Polkadot Parachains and other Blockchains.

As the blockchain space continues to evolve, grants' role in developing cross-chain solutions will remain indispensable, driving progress toward a fully interoperable and unified blockchain future.

Decentralized Applications

Decentralized applications run on a blockchain or peer-to-peer network of computers instead of a single computer.

Grants provided by blockchain projects & foundations are crucial in fostering innovation, supporting developers, and accelerating the adoption of blockchain technology through DApps.

Many innovative DApp projects are at the conceptual or early development stage and may not have the capital to sustain their development. Grants provide these projects with the necessary funding to move from ideation to prototype to a fully functioning application.

By offering financial support without the pressure of immediate returns, grants allow developers to experiment with novel ideas and innovative solutions, pushing the boundaries of what's possible with DApps.

For example, the Tezos Foundation supports projects that contribute to the Tezos ecosystem, including the development of DApps.

BlockSurvey is built on Stacks Blockchain. Stacks offers the Stacks Grant Program.

Decentralized Finance

Decentralized Finance is a revolutionary sector within the Blockchain ecosystem. It leverages smart contracts on Blockchains to provide financial services without the need for traditional finance intermediaries.

DeFi offers various services, including lending, borrowing, trading, and investment. Blockchain foundations provide grants to fuel and accelerate the adoption of DeFi solutions.

Many DeFi projects start with innovative ideas that require funding to be fully realized. Grants offer crucial early-stage financial support, enabling these projects to develop prototypes and launch initial versions.

As DeFi continues to evolve, Grants will remain essential in overcoming challenges and shaping the future of finance.

Decentralized Autonomous Organization

Another important use case for grant applications is a Decentralized Autonomous Organization. Decentralized Autonomous Organizations (DAOs) are community-led entities governed by smart contracts on a blockchain, instead of people.

DAOs reduce the reliance on centralized control, distributing decision-making power among stakeholders.

MolochDAO grants focus on funding Ethereum development and have inspired the creation of other DAOs. They provide grants to projects that address collective action problems within the Ethereum community.

DAO refines governance models. It empowers communities to manage collective resources effectively. As the concept of DAOs continues to evolve, allocating grants will remain crucial in addressing challenges.

Non-Fungible Token Projects

NFT is a rapidly evolving sector that represents a significant facet of the digital economy.

NFTs are unique digital assets verified on the Blockchain. It has transformed art, gaming, and entertainment by enabling proof of digital ownership on the Blockchain.

Through financial support, grants help artists & entrepreneurs explore new uses of NFT technology. Grants help create innovative projects. It also contributes to the broader adoption and understanding of NFTs.

NFT opens new avenues for artists and creators to monetize their work and engage with their audiences.

Projects like Flow, Tezos, and Ethereum offer grants to developers and creators for building NFT-related applications and services on their blockchains, aiming to enrich their ecosystems thereby.

Privacy Improvements

Privacy and security are fundamental challenges faced by blockchain technology. Grants play a critical role in enhancing the privacy within the Web3 ecosystem. Grants help in the development of privacy-preserving technologies & solutions essential for the adoption of trustworthiness in Web3 applications.

In Web3, it is important to empower users with control over their data and protect their anonymity when necessary. It is also essential to meet global data protection regulations, such as GDPR.

Grants provide essential funding for research into new cryptographic methods, zero-knowledge proofs, and other privacy-enhancing technologies on blockchain networks and applications.

For example, the Zcash Foundation supports projects that promote privacy in the broader cryptocurrency and blockchain space, including research and development related to zero-knowledge proofs and encrypted transactions.

Grants thrive to ensure a more secure, private, and user-centric decentralized web.

Social Impact Initiatives

Grants play a transformative role in supporting Web3 social impact initiatives for positive societal change.

Providing not only financial support but also mentorship, grants enables innovators to harness the power of Web3 for projects that aim to improve efficiency in social impact efforts.

For instance, Blockchain's transparent nature allows for the tracking of donations, ensuring they are used as intended. It increases trust among stakeholders and paves the way for effective social impact.

There is grant funding to support projects that use smart contracts for social impact.

Concluding Thoughts

In conclusion, the diverse use cases for grant applications discussed in this blog underscore their indispensable role in Web3 innovation.

Grants allow developers and creators to push the boundaries of what's possible, leading to advancements that have the potential to reshape the Web3 landscape.

As we move forward, the strategic application for grants will continue to be pivotal in receiving funding.

I encourage you to address the pressing challenges of our time, paving the way for a more innovative, equitable, and sustainable future.

Also, try using Common Grant Application Form template from BlockSurvey. Feel free to customize the same.

9 Strong Use Cases For Web3 Grants Application FAQ

What are some strong use cases for Web3 grants applications?

Some strong use cses for Web3 grants applications include decentralized finance (DeFi) projects, non-fungible token (NFT) platforms, and decentralized autonomous organizations (DAOs).

Why are these use cases considered strong for Web3 grants applications?

These use cses are considered strong for Web3 grants applications because they leverage the unique capabilities of blockchain technology, such as transparency, security, and immutability, to create innovative solutions that address real-world challenges in a decentralized and trustless manner.

How can I increase my chances of receiving a Web3 grant for my project?

You can increase your chances by clearly outlining your project's value proposition, demonstrating a strong understanding of Web3 technology, and showing how your project aligns with the goals of the grant program.

Are there specific criteria that Web3 grant programs look for in applicants?

Some common criteria include innovation, scalability, decentralization, and potential impact on the Web3 ecosystem.

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blog author description

Sarath Shyamson

Sarath Shyamson is the customer success person at BlockSurvey and also heads the outreach. He enjoys volunteering for the church choir and loves spending time with his two year old son.