Blockchain platforms in their early stages are actively supporting developers with grants and marketing resources. "We found after applying to more than 20 grant programs that new, just-launched blockchains are most accessible. Almost all of them launch grant programs, and they're genuinely interested in supporting new teams," said Vlad Goncharov, founder of Eonian, in an email interview. However, Goncharov advised to be selective: "Don't trust every grant announcement - some chains use them just for attention, without real funding behind them."
New blockchains can prefer to fund teams to fork successful protocols from other chains. When Goncharov's team was developing their original DeFi product, one of blockchains offered immediate funding to fork and deploy Uniswap.
Unlike established chains, new platforms have strong incentives to fast-track these processes. "My grant application with SKALE took just one month, including technical reviews. They treated me as a partner from day one," shared Michael Sumner, CEO of ScoreDetect, in an email interview. His project secured funding after showing a working MVP and a roadmap. Sumner developed the entire MVP solo, handling everything from initial ideation to technical support and documentation.
Hackathons For Raising Funds
"After winning first place in Colosseum's DePin track, we got $250K pre-seed at 7% and grew to 500K installs with 100K Twitter followers," shared Ohad Dahan, the founder of BlockMesh Network in an email statement. After two quick interviews and hackathon due diligence, they signed a Simple Agreement for Future Equity deal.
"I highly recommend hackathons and accelerators since they come with publicity which is critical to attract users," says Dahan. "Don't outsource your community management early, not even for people who offer to do it for free. Stay close to the users, listen to them directly - it will make them more loyal since they see you personally talking to them."
Dahan's tips for founders:
Join hackathons - they bring users and visibility
Build open source - attracts contributors and builds trust
Manage your community yourself at first - direct user feedback shapes better products
Skip big conferences - focus on targeted meetings with specific people
Stay ready to change direction based on user needs
What not to do:
Don't buy social media followers
Don't outsource community management early
Don't stick to one idea if users want something else
The mix of hackathons, accelerators and grants works better than focusing on just one funding source. Each path brings different benefits - grants give freedom, accelerators add connections, hackathons create visibility and help with learning. "We joined the Berkeley SkyDeck accelerator, where we received $200K as part of the program. While the money was helpful, what truly mattered was the education," shared Jiri Kobelka, CEO at Tatum, in an email interview.
Government Grants May Not Work For Web3
"Government grants were heavily pushed as a funding option when we started out, but they turned out to be a non-starter for us," shared Kobelka. "Most grants ranged from $10K to $200K, which might sound appealing, but they came with strings attached that made them impractical."
The main issues with government grants include excessive paperwork, spending restrictions, and long-term bureaucratic oversight. "You had to commit to spending money on things that didn't align with your priorities. Even after securing the funds, you'd be locked into years of reporting," explained Kobelka. In one case, Tatum turned down a government grant despite pressure from the minister's office because "the cost in time, flexibility, and operational focus wasn't worth it."
How To Communicate With Venture Capitalists
The path to venture funding requires strong metrics and strategic communication. With just two founders and no other employees, the team secured $450,000 in pre-seed funding. "By the time we reached our Series A round, developer adoption was growing by nearly 15% month over month, and usage had exploded, growing over 560% monthly on average," said Kobelka. "With those metrics, we crafted a pitch deck that worked. Over 95% of VCs who received it requested a call."
However, Kobelka warned about common pitfalls in VC communication. "I'll never forget a call with a major fund where I casually shared some non-critical information. It wasn't a big deal to me, but they misunderstood it and later declined to invest," he explained. "And don't be discouraged by poker-faced VCs on calls - sometimes their cold demeanor means they're very interested but playing it close to the chest."
Kobelka's VC fundraising playbook:
Create an engaging pitch deck without technical overload
Focus on 2-3 key messages during calls
Structure rounds to keep founder dilution under 20%
The due diligence process includes initial reviews, term sheet negotiations, and detailed verification. "From the first call to money in the bank, it took us 4-5 months," said Kobelka.
Finding Startup Advisors
When looking for funding you can seek advice from experienced founders and developers. "What started as an ask for feedback soon blossomed into something even more powerful: advocacy. This same group of individuals became our champions, introducing Hive3 to key resources, forging valuable connections," shared Stacy Quackenbush, CEO at Hive3.
However, be cautious with "advisors" offering paid help with grant applications and funding strategies. Legitimate advisors should be able to provide specific examples of projects they've helped and verifiable results. Those who can only share general advice or cannot demonstrate concrete experience are likely trying to monetize publicly available information, which may also be outdated or fabricated.
Red flags to watch for:
Inability to name specific projects they've helped
Citing only publicly available statistics
Vague descriptions of their involvement
Claims of helping "anonymous" projects
Inflated success rates or grant amounts
Go Direct
The market is saturated with agencies targeting Web3 developers with paid help for grant applications and fundraising strategies. These agencies exist because many founders see funding as a complex and unclear process. However, case studies across the industry show that even solo developers and micro teams can successfully secure funding independently without intermediaries. The direct fundraising process itself provides valuable product feedback, visibility and industry connections that contribute to a project's early reputation and development.
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