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Making Web3 Development Free - Alchemy’s $25M Developer Grants Initiative

Making Web3 Development Free - Alchemy’s $25M Developer Grants Initiative

Authors:Alchemy Team

Reviewed by Brady Werkheiser


Published on June 17, 20223 min read

Update: Applications are now open!

Introducing the WAGBI Grant (We're All Gonna Build It 👷🛠️)!

Given the drastic market conditions, we’ve decided to double down on our mission to make web3 development accessible to everyone. Today we’re announcing the Alchemy Grants Initiative, which brings $25 million in grants to web3 developers and startups. 

Though the macro and crypto markets have had a massive price crash, we’ve seen a 3x increase in the number of teams building web3 products since January. Web3 is just getting started and the acceleration in smart developers building useful products is a key indicator to us that we’re about to see an explosion in products with real utility.

Starting on Monday 6/20, developers can apply to receive up to $50,000 in Alchemy credits to build DeFi protocols, NFT marketplaces, or any other projects that help encourage the adoption of Web3. We expect to begin issuing the grants on Wednesday 7/6.

Why Now

Hundreds of thousands of developers are building in Web3 right now. They’re experimenting with new ideas. They’re building new companies. They’re turning business models upside down and taking power away from entrenched centralized groups and giving it back to people. In just the last 5 months, Alchemy has seen the number of teams building just on our platform grow by more than 3x.

But there’s another reality. Winter is here. You see it in the headlines. Crypto prices are down. NFT volumes are down. Layoffs are up. But the headlines about the downturn are missing the same basic truth that they missed when everything in Web3 was a rocket ship – Web3 is a technological wave with a huge future. And the ideas that will define the next 20 years of Web3 will be built in the next two. We’re committed to supporting devs through this. 

We’ve put resources into education with Web3U and The Road to Web3 – and early-stage funding with Alchemy Ventures. Now we’re putting our resources into helping developers through the most challenging market we’ve seen in years. 

Because look, at the end of the day, we fundamentally believe #wagmi.

FAQs

Who is eligible for access to the Alchemy Grants Initiative?

Developers who are new to web3. The Alchemy Grants Initiative is designed to encourage new builders to get into web3 and start building the next NFT marketplace, DeFi protocol or anything else that will further the ecosystem. 

We recognize that many of our existing devs are impacted by the current macro market conditions, and we want to help you too. If you’re already an Alchemy customer with a free or Growth tier account and are interested in applying to the Grants Initiative, submit an application next week.

Once we begin accepting applications, we will share more details on developer eligibility criteria.  

How does this compare to your existing free tier?

We believe this is complementary to our existing free tier and will help devs who are using services that require more compute units, such as our NFT API, Transfers API, SDK and other proprietary tooling. 

Our free tier is the most generous free tier available and is a great option for tons of devs - allowing up to 12M requests per month. If you think this option would work for you, sign up today

When will I be able to apply? And when will I receive the grant?

We will open up applications for Alchemy’s Grant Initiative next week. Applications that meet our criteria will be reviewed and considered, with the initial set of grants to begin rolling out Wednesday 7/6.

What was the motivation behind the Alchemy Grants Initiative? 

Unstable markets are a reminder to stay focused and do what we do best: provide the tools and resources for relentless web3 product innovation. Based on the number of developer teams building on Alchemy, and the engagement we see daily across communities like Web3 university and the Road to Web3, the long-term health of crypto — which is powered by developers — is healthier than ever. So let’s keep going. 

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