NEW YORK, Dec. 08, 2021 (GLOBE NEWSWIRE) — The Stacks Accelerator today announced a new program track to foster crypto cities on the CityCoins protocol.
The CityCoins Accelerator Track is an extension of Stacks Accelerator’s mentorship-driven program awarding up to $50,000 investment to selected teams, who can additionally apply for up to $100,000+ in non-equity grants from the Stacks Foundation.
Over three months, teams will participate in Stacks Accelerator’s program, where they will receive training in product and marketing strategy, mentor-and-investor matching, and other support necessary to realize, build and ultimately succeed with their project. As CityCoins Accelerator Track participants, teams will receive additional mentorship, support, and access to CityCoins-specific resources. The first Stacks Accelerator cohort raised over $24MM since beginning in May 2021. The average valuation is now $20.5MM per team, representing an average 3.5x+ increase in valuation since the start of the program.
Confirmed mentors include Balaji Srinivasan, angel investor and former CTO at Coinbase; Amanda Cassatt, co-founder of Serotonin and former Consensys CMO; Ryan Hoover, founder of Product Hunt and investor at Weekend Fund; Sten Tamkivi, founder of Skype; Preethi Kasireddy, ex-a16z & Coinbase, currently EIR at Samsung NEXT; Jake Brukhman, founder of CoinFund; Zavain Dar, partner at Lux Capital; Trung Phan, writer and co-host, Not Investment Advice (NIA) podcast; Patrick Stanley, CEO of Freehold; and Muneeb Ali and Ryan Shea, co-founders of Stacks.
“CityCoins have already been activated in Miami and New York City, with tens of millions of dollars already accrued in their CityCoins treasuries—but CityCoins are more than a new fundraising opportunity for cities,” said Patrick Stanley, CEO of Freehold. “CityCoins are the future of civic engagement, and this accelerator is an incredible opportunity for builders to help shape that future.”
Ryan Hoover, a mentor in the accelerator, said: “CityCoins is charting new territory for civic engagement where governments, local citizens, and a global market come together to create a win/win/win outcome for everyone. I’m excited to see how communities adopt and build on top of the platform and broader Stacks ecosystem.”
The CityCoins Accelerator Track is now open for registration. To be considered for the program, builders must apply at https://stacks.ac/citycoins.
CityCoins are the future of civic engagement, replacing the limited ‘.gov’ websites of the web 2.0 era with protocols designed to give communities and builders the opportunity to improve and program their city. With two CityCoins activated so far, MiamiCoin and NYCCoin have accrued over $40MM+ for cities to use as they see fit. Learn more at www.citycoins.co/
CityCoins are powered by Stacks, a protocol that enables smart contracts on the Bitcoin network. For more information, visit Stacks.co.
About Stacks Accelerator
Stacks Accelerator invests in outstanding startup teams building on the Stacks Blockchain. The Stacks Accelerator is backed by leading entities within the Stacks ecosystem. For more information, visit Stacks.ac
Media Contact: Andrea Zaragoza Ballesteros, [email protected]
Image 1: Stacks Accelerator CityCoins Track Mentors
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- Stacks Accelerator CityCoins Track Mentors