Coinbase 2n684q Animoca Brands Announce Web3 Accelerator Initiative in the UK

The Web3 accelerator comes as the UK is working on regulations to govern the use of digital assets in the country. 40191b

Written by David Delima | Updated: 29 April 2025 20:10 IST

Coinbase, Animoca Brands Announce Web3 Accelerator Initiative in the UK

Photo Credit: Pixabay/ Butti_s 2t4g9

Startups building for open economy and tokenised business models can apply

Highlights

A startup can receive funding worth GBP 250,000
The initiative aims to promote UK-based Web3, AI projects
The UK plans to finalise crypto rules by 2026

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Coinbase and Animoca Brands have ed a group of institutional investors to announce an accelerator initiative in the UK, focused on Web3 projects. Fabric Ventures and Founders Factory are also part of the programme, that will allow promising Web3 startups to gain financial aid of up to GBP 250,000 (roughly Rs. 2.85 crore). The firms announced the new programme on Monday, and stated that it was designed to advance tech startups working on AI and blockchain technology that can elevate the UK's economic status.

The initiative also offers 16 weeks of industry experience from Founders Factory, a startup accelerator firm based in London, UK. The selected startups will get business strategy and market exposure along with training in product development and fundraising, according to a press release published on Monday.

Fabric Ventures, AI sectors.

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“Ensuring that these products and services are born out of the UK is vital. For too long, access to capital, mentorship, and resources has held back this ambition. This significant investment changes that,” said Keith Grose, UK CEO, Coinbase.

The group of investors has yet to disclose the exact amount of funds that have been allocated to this initiative. The announcement vaguely mentions the accelerator programme is worth several million pounds.

Startups building for open economy and tokenised business models have been invited to apply. The founders of the selected startups will also get an opportunity to present a demo of their projects to global investors and work for seed funding or Series A investments.

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The UK plans to release its crypto rules by 2026. Due to its crypto-friendly approach, several Web3 firms have entered the UK market.

All Web3 firms looking to operate in the UK are required to acquire an operational licence with the Financial Conduct Authority (FCA). Coinbase is among firms that recently ed with the FCA earlier this year.

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Further reading: Founders Factory

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More