Momentum 6 is receiving a grant from Harmony in a new partnership between the venture capital firm and the Ethereum-scaling blockchain. The $1 million grant will be administered by the Momentum 6 team to fund projects currently or seeking to build in the Harmony ecosystem. By utilizing Momentum 6’s expertise in project discovery and investment analysis, the new partnership will improve access to capital for teams leveraging Harmony’s technology.
Harmony is a blockchain platform focusing on speed, decentralization, and security. Its mainnet runs Ethereum applications, and users experience a two-second transaction finality. It also comes with secure bridges that make it easy to do cross-chain asset transfers. With a developed technology stack, the chain is now fostering ecosystem growth. Harmony recently unveiled a $300M ecosystem fund to back startups working on various protocols and decentralized applications.
Momentum 6 is a crypto venture capital fund generating Momentum for portfolio companies and the blockchain industry. The fund primarily invests in early-stage projects focused on DeFi, Web 3.0, gaming and metaverse, and NFTs. It produces quality research around industry trends and opportunities. Follow the fund’s content on Medium, Telegram, and Twitter. Momentum 6 forms partnerships and provides incubation services to projects and blockchains.
This grant will be distributed across 20 promising projects, each receiving $50K in funding. The projects need to follow the guidelines in Harmony’s ecosystem fund in the “Launch” category and write their proposal in the Harmony forum.
Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each:
- $10K after launching a feature-complete product on our testnet
- $10K after forming a DAO with 5-out-of-9 multisig with our DAOs
- $10K after launching on our mainnet with audit
- $10K after 1K daily active users (with launch video, full PR promotion)
- $10K after 10k daily active users (with a detailed roadmap, governance process)
The blockchain ecosystem is full of diamonds in the rough. Often, the next big Alpha opportunity is a founder deep in an ecosystem’s Discord group that needs assistance forming a team or raising capital.
With the grant, Momentum 6’s investment team will source and fund projects using the Momentum 6 Scraper Method:
- On-chain data — discover projects as soon as they have a meaningful blockchain footprint,
- Social media — source information about projects,
- Trending narratives — provide insight into upcoming growth areas,
- Botting — find projects in need by monitoring the volume of ticker mentions,
- Novel projects — search for founders or teams building a prototype to address a specific user need.
Momentum 6 hinted that the grants are just the beginning of its collaboration with Harmony, with more integrations between the two organizations to be announced in the coming months.