Web3 Foundation (W3F), the foundation responsible for funding Polkadot, has passed the milestone of 400 approved projects. Since its launch in December 2018, W3F has received hundreds of applications from projects looking to build on the Polkadot ecosystem and 40% of these submissions were approved.
The Web3 Foundation’s funds are not limited to Polkadot and its parachain network, but that’s where the majority of its investments have been made. W3F shared the number of projects approved so far to celebrate this important milestone for its grant program. The foundation revealed that 1,054 grant applications were submitted, with 415 approved.
There are many different types of projects, covering all areas of web3, from infrastructure layers to middlewares and consumer applications. W3F has funded projects ranging from wallets, developer tools, and APIs to smart contracts and user interface development. There are 181 teams that have completed at least one project and 300 teams that have successfully completed their first milestone, the foundation added.
At this stage in its lifecycle, Polkadot is still primarily developer-oriented as it is necessary for its parachains to be built out and connected to other Layer 1 blockchains before many consumer-oriented can be deployed. Projects that receive Web3 Foundation funding have been fairly evenly distributed around the world, with 14% of development teams coming from the US, 13% from China, 8% from Singapore and other countries like Australia, Japan, and Argentina.
Web3 Foundation is proud of its significant milestone, noting that grant recipients are currently working on a wide range of decentralized use cases, including digital identity and privacy, IoT, games, data storage and finance.
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