New York-based Lightning accelerator has announced its first set of companies and projects.
in wolf clothesthe first startup accelerator dedicated to Lightning, announced the selection of eight teams for its inaugural cohort, Wolfpack 1.
According to the press release sent to Bitcoin Magazine, the program received more than 100 applications from teams representing 36 countries. Wolf’s accelerator program is designed to “help early-stage startups achieve product market fit, build their brand, secure critical early-stage funding, and grow businesses that drive global Bitcoin adoption.”
Selected companies are working on topics such as decentralized commerce via discrete ledger contracts, a WeChat-style “super app” for Nostr and Lightning, automated Lightning node management, instant payments and remittances on MENA marketplaces, and more.
In addition to this announcement, as Wolf heads toward starting its first cohort in April, the company announced a list of committed investors and mentors. Industry heavyweights such as Allen Farrington, Ego Death Capital, Fulgur Ventures, Hivemind Ventures, Kingsway Capital, NYDIG, Stone Ridge Holdings Group and Urim Capital are involved.
Kelly Brewster, CEO of Wolf, said: “The volume and quality of applications for Wolf has been simply incredible. From true ‘decentralized finance’ to infrastructure, social, payments and more, the teams joining Wolf are advancing Bitcoin across a wide variety of borders.”
Applications for Wolf’s second cohort, Wolfpack 2, are open and will be accepted through April 7, 2023. Wolf is a subsidiary of Stone Ridge Holdings Group, founded in 2012, which has five operating subsidiaries: Stone Ridge Asset Management, NYDIG, Longtail Re, Test and Lobo.
The announcement coincides with tremendous growth in the Lightning Network, with network capacity at an all-time high, up 63% since early 2022. Also in focus, according to the announcement, “Nostr’s explosive growth continues with more than 2 million pubkeys writing events”. The Lightning Accelerator may well end up playing a crucial role in the global adoption of Bitcoin, fueling innovative ideas and providing critical funding for early-stage startups.
