Reef Labs $10M Accelerator Program COHORT 1 Begins, Paving the Way for Web3 Innovators

Inaugural Cohort of Seven Visionary Projects Embarks on a Journey of Growth and Innovation

Dubai, United Arab Emirates, August 06, 2023 – The Web3 landscape is about to witness a wave of transformative innovation as Reef Labs proudly announces the commencement of its highly anticipated $10 Million Accelerator Program Cohort 1. The Accelerator Program, spearheaded by Reef Labs, is designed to empower and foster the growth of Middle Eastern Web3 projects on the Reef Chain.

Incepted four months back, Reef Labs’ visionary initiative aims to provide unparalleled support, incubation, and investment opportunities for promising Web3 developers and teams in the region. With a keen focus on driving Web3 adoption and innovation, Reef Labs’ Accelerator Program is poised to play a pivotal role in shaping the future of Web3.

After a rigorous selection process that saw an overwhelming response of over 450+ applications, seven outstanding projects have emerged as the pioneers of this inaugural cohort. This kickstart marks not only the beginning of a groundbreaking program but also a new chapter in the evolution of Web3.

From the realms of immersive gaming to decentralized social networking and from cutting-edge self-custodial wallets to Web3 compliance solutions, the Reef Labs Accelerator Program‘s Cohort 1 represents a diverse array of groundbreaking ventures that are set to shape the future of the digital landscape.

Shining Stars of Cohort 1:

  • AlterVerse: An immersive platform for Web3 game enthusiasts leverages the power of Unreal Engine.
  • Rariko: Bridging traditional Web2 experiences with the secure networks of Web3.
  • Coinvise: A convergence of artistry and tokenization, revolutionizing creator-community interactions.
  • Plena Finance: Introducing the world’s pioneering self-custodial wallet with account abstraction support.
  • Astra Protocol: Setting new standards in decentralized Digital Identity and KYC/AML procedures.
  • GAMING Studio: Crafting a new era of Web3 games, starting with the strategic maritime combat game- Sailwars.
  • Petobots: A casual PvP gaming platform, Petobots offers an exciting gaming experience to players allowing them to engage in PvP battles with wagers using robotic pets.

Collaboration for Innovation:

The success of the Accelerator Program is boosted by partnerships with industry giants like, an expansive world for GameFi projects; BreakFirst Fund, a renowned early-stage Web3 investor; Sqwid, the leading NFT marketplace on the Reef Chain; ReefSwap, an anticipated user-centric DEX on the Reef Testnet; Mapleblock Capital, supporting Web3 projects at various stages; Bloom360, a creative Web3 marketing agency, and CommComm, specialists in community growth.

A Glimpse of the Future

As the Reef Labs Accelerator Program Cohort 1 embarks on this transformative journey, it paves the way for a future where innovation knows no bounds. From GameFi to AI-driven solutions, these visionary projects exemplify the limitless potential of the Web3 ecosystem.

“With Cohort1, we celebrate not only the ideas of the onboarded projects but also the passion and determination that fuel their journey,” says Denko Mancheski, CEO & Founder of Reef Chain. “These projects symbolize the dawn of a new era in Web3, and Reef Labs is pleased to play a pivotal role in their growth.”

As we bear witness to the dawning of this new chapter in Web3, the Reef Labs Accelerator Program Cohort 1 stands as a testament to the limitless possibilities that await. A future enriched by innovation, collaboration, and groundbreaking solutions lies ahead, setting the stage for a Web3 landscape that pushes the boundaries of what is achievable.

For more information about Reef Labs and the Accelerator Program, please visit:

About Reef Labs

Reef Labs is a visionary initiative by Reef that nurtures and accelerates promising Web3 projects. Through mentorship, financial support, and strategic guidance, Reef Labs empowers projects to achieve their full potential, fostering growth and innovation within the Web3 ecosystem.

About Reef

Reef is an EVM-first blockchain designed to democratize Web3 access for the next billion users. With its high scalability, affordable transactions, and commitment to innovation, Reef is spearheading the adoption of NFTs, DeFi, and gaming within the Web3 landscape.

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