Web3 Startup Lumx: Catalyzing Blockchain Innovation

In a strategic move to amplify on-chain development within the Polygon ecosystem, Web3 startup Lumx has introduced a substantial $250,000 fund dedicated to fostering blockchain innovation across Latin America. The LATAM Acceleration Fund is poised to ignite a wave of advancements by providing grants to enterprises constructing applications with Lumx’s APIs on any Polygon blockchain.

Empowering Blockchain Development

This fund will subsidize user transactions through smart accounts, facilitate smart contract deployment, enable NFT creation, and offer complimentary access to an array of Web3 products. Applications for these transformative grants are open until August 20th, 2024.

Endorsements from Polygon Labs

“Polygon Labs is exhilarated to champion the expansion of web3 technologies in Latin America. We firmly believe that only the finest infrastructure providers can bring top-tier use cases to fruition,” remarked Manuel Echanove, Head of Business Development for Latin America at Polygon Labs. “Lumx embodies our web3 ethos and is dedicated to developing use cases that are either superior or uniquely viable within the on-chain dynamics of the Polygon aggregated network.”

Crypto Adoption in Latin America

Significantly, three Latin American nations feature prominently in the Top 20 for crypto adoption, as per Chainalysis’ “2023 Geography of Cryptocurrencies” report. Brazil holds the 9th position, with Argentina and Mexico ranking 15th and 16th, respectively.

Lumx’s Vision for Web3 in Brazil

Lugui Tillier, Director of Business Development at Lumx, underscored the initiative’s potential to bolster Brazil’s prominence in global Web3 development and stimulate high-caliber projects across the region.

“Blockchain technology wields immense potential, yet it remains inert without pertinent applications. Following numerous cycles centered on infrastructure, we are now transitioning into an era of on-chain applications. Lumx is at the forefront of this progression on Polygon. It’s time to build! It’s time to innovate!”