Amazon Web Services (AWS) and Cronos Labs have entered into a strategic partnership to support the growth of Web3 startups and drive blockchain technology adoption across various industries. AWS will provide cloud computing resources and expertise, while Cronos Labs will offer its knowledge in blockchain development. The collaboration will particularly focus on the areas of decentralized finance (DeFi), GameFi, SocialFi, and Infrastructure.
Following the announcement, the price of CRO, Cronos ecosystem’s native token, experienced a 15% increase within a day, with trading volumes also rising by over 500%. Amazon has previously collaborated with other blockchain-related entities, such as Ava Labs, Chainlink, and VeChainThor. The crypto community is also anticipating the rumored launch of the Amazon NFT Marketplace.
The partnership will involve AWS helping to scale and grow projects in the Cronos Accelerator Program, a startup accelerator that specializes in DeFi and blockchain games. The program, launched in June 2022, is backed by $100 million from Cronos Labs Ecosystem Fund to support ongoing ecosystem development. Each year, the program trains and links mentors with 3-4 cohorts of 10 startups each.
The Cronos Accelerator Program’s participants will benefit from the scalability, security, and flexibility of AWS’s cloud infrastructure, allowing for quick and efficient development and deployment of blockchain-based applications. The collaboration will also allow startups to explore innovation at the intersection of blockchain and a range of machine learning and AI services offered by AWS. Cronos Labs will provide technical, commercial, funding, and guidance support to the startups.
About Cronos Chain
Cronos (cronos.org) is the first EVM-compatible Layer-1 blockchain network built on the Cosmos SDK, supported by Crypto.com, Crypto.org, and more than 400 app developers and partners. Cronos is building an open ecosystem where developers can create their DeFi and GameFi applications, targeting a base of 80+ million users globally. In June 2022, Cronos Labs launched a $100M Accelerator Program to help developers build new projects and the future of Web3 within the Cronos ecosystem.
Developers building on Cronos can leverage Ethereum developer tools, leading crypto wallets, wrapped versions of the top 50 cryptocurrencies, Cronos Play (a suite of developer tools for Unity, C++, and Unreal engine), inter-blockchain communication (IBC) cross-chain connectivity to Cosmos chains, and a rich ecosystem of composable DeFi and GameFi dapps.
Michael Peres (Mikey Peres) is a tech investor, web3 enthusiast, serial-entrepreneur, software engineer, journalist, and author best known for founding various technology, media, and news startups. As a regular contributor to reputable news publications such as Entrepreneur and Times of Israel, Peres leverages his experience to help other entrepreneurs and investors along their path to success.