Cronos partners with City of Seoul to launch “Seoul Web 3.0 Festival 2023” and develop local blockchain ecosystem and talent pool

• Cronos Labs, the R&D and ecosystem development arm of the Cronos blockchain, joins the first edition of the “Seoul Web 3.0 Festival 2023 (SWF2023)” as the main blockchain network partner.

• Cronos will provide extensive support to the 3-day SWF2023 hackathon, signaling their commitment to support Seoul-based developer ecosystem.

LONDON, 22 May 2023 /PRNewswire/ — Global blockchain technology company and startup accelerator Cronos Labs announced today that it will participate as the main blockchain network partner of the “Seoul Web 3.0 Festival 2023” (SWF2023), organized by the Seoul Metropolitan Government. SWF2023 aims to strengthen the competitiveness of Korea’s Web3 industry and create opportunities for global talent development in the blockchain sector.

Cronos Labs is a blockchain ecosystem and startup accelerator focused on decentralized finance and blockchain gaming, as well as the development of Cronos blockchain ecosystem. Cronos Labs helps developers create user-friendly applications on the Cronos chain and drive mainstream adoption of Web3. Cronos Lab’s participation in SWF2023 will further strengthen the position of the Cronos chain in Korea and globally.

SWF2023 is held over three days from Monday 31 July to Wednesday 2 August in the iconic Dongdaemun Design Plaza (DDP) building i Seoul. The festival will consist of various programs including a hackathon, investor demo day for Web3 startups, a networking party and an NFT exhibition. With the slogan “Change, Opportunity, Challenge”, the festival will uncover ground-breaking ideas at the intersection of artificial intelligence (AI) and blockchain technology. Blockchain developers will be able to secure investor contacts and the general public will discover the latest trends in Web3 innovation.

Hackathon, the festival’s main event, is the first Cronos-enabled hackathon event to be held in Korea. Cronos is the leading blockchain network that interoperates with both Ethereum and ecosystems of the cosmos. More than 500 validators, apps and infrastructure partners have adopted Cronos as their home since the chain launched in November 2021. Cronos Labs will participate in the hackathon as a judge and advisor, and contribute to the prize pool.

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The hackathon will see a total of 400 participants, including software developers, product managers, designers and others, who will form around 100 teams to develop product concepts and applications within 72 hours.

SWF2023 will feature more global and local partners, especially including global ones cryptocurrency platform Crypto.com which will participate in the investor demo day and networking party as a main partner, providing guidance and training for local developers and startups, while investing to accelerate the growth of early-stage Web3 startups.

“South Korea leading the transition to Web3 and Seoul is on its way to becoming one of the Web3 capitals of the world,” said Ken Timsit, CEO of Cronos Labs. “Seoul, and by extension Korea, is a critical part of Cronos’ broader ecosystem development. We hope that this hackathon will encourage the development of more Cronos-based applications in Korea, and position Cronos as a strong partner for the local Web3 ecosystem. The hackathon will also enable a top priority area of ​​focus for Cronos this year, which is to support consumer applications at the intersection of AI and blockchain technology.”

“As Korea’s Web3 industry develops, more services that create real value are beginning to emerge,” said SangYong Lee, Chief of Digital Affairs, Seoul Metropolitan Government. “SWF2023 will be an opportunity to discover new ideas and set the path for the development of the industry. Various Web3 companies, including foreign and local companies, will come together to network and create synergies.”

Applications for the hackathon start it Monday 22 May for Friday 30 June and will take place on the official SWF2023 website (www.swf2023.com).

About Cronos

Cronos (cronos.org) is the leading EVM-compatible layer 1 blockchain built on the Cosmos SDK, adopted by 1 million users. A top 10 blockchain network, Cronos is backed by Crypto.com, Crypto.org and more than 500 app developers and partners. The mission of Cronos is to make it easy and safe for the next billion crypto users to adopt self-storage in Web3, focusing on DeFi and GameFi applications. Cronos Labs is the ecosystem development arm and startup accelerator of the Cronos blockchain.

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SOURCE Cronos