Alchemy, a blockchain development platform, has introduced the "Everyone On-Chain Fund," a $5 million initiative aimed at accelerating the adoption of web3 technologies. The fund is designed to provide developers building on Alchemy Rollups and Account Kit with essential resources for rollup deployment and user onboarding. The initiative comes as rollup adoption and smart wallets gain momentum, highlighting the growing need for scalable blockchain infrastructure.

Alchemy Launches $5 Million Fund to Support Web3

New $5 Million Fund

Through this program, participating teams will have access to up to $10,000 in gas credits and $20,000 in compute credits. In addition to financial support, developers will receive enterprise-grade rollup infrastructure, ensuring they have the necessary tools to build and deploy blockchain applications. Initially, the fund will be available to projects built within the OP Stack and Arbitrum Orbit ecosystems, aligning with Alchemy’s focus on scalable and efficient blockchain solutions.

Nikil Viswanathan, co-founder and CEO of Alchemy, stated that the launch of the fund was a direct response to feedback from developers who expressed the need for enhanced support. He emphasized that as the blockchain ecosystem continues to expand, there is a clear demand for resources that enable builders to succeed in an on-chain environment.

Breakdown of Funding

Enhancing Accessibility

In addition to funding and infrastructure support, the initiative includes free access to Alchemy’s smart wallet integration. This feature is expected to reduce common friction points for developers, such as the need for seed phrases and external wallet pop-ups. According to Alchemy, this integration could save projects as much as $40,000 in infrastructure costs, streamlining the user experience and making blockchain adoption more accessible to a wider audience.

Steven Smith, Vice President of Protocol and Applied Research at Tools for Humanity, a contributor to World Network, commented on the importance of industry collaboration. He noted that the partnership between Alchemy and World Chain serves as a model for how organizations within the blockchain space can work together to support innovation and long-term growth.

Account Kit

Encouraging Broader Web3 Adoption

The introduction of the "Everyone On-Chain Fund" reflects Alchemy’s commitment to fostering web3 adoption by equipping developers with the necessary financial and technical resources. By reducing barriers to entry and improving infrastructure accessibility, the initiative is expected to contribute to the expansion of decentralized applications and encourage broader participation in the web3 ecosystem.

As rollups and smart wallets continue to evolve, Alchemy's latest initiative positions the company as a key player in supporting blockchain development. The fund not only provides developers with financial backing but also ensures that they have access to the infrastructure needed to build scalable and user-friendly applications, further driving the adoption of decentralized technologies.

Source: NFTGators