2SQRS launches a Blockchain Service Incubator

2SQRS – a human-tech company based in Amsterdam, the Netherlands – launches Web3 Ventures. Web3 Ventures is an incubator that enables entrepreneurs and developers in bringing infrastructural innovation to the growing blockchain community. that normally wouldn’t have the chance to go to market in normal market conditions.

The team behind Web3 Ventures envisions a decentralized economy where entrepreneurs evolve into architects of the new world infrastructure, investors turn into catalysts of innovation and consumers become a global community of owners. This implies an economy in which there is no intermediation, everyone can invest in innovative propositions (without needing to wait for an IPO), and return on investment is linked to adoption of innovation rather than equity.

Emanuele Francioni, CTO at 2SQRS and Founder of Web3 Ventures, elaborates on the vision behind the incubator: “As Web3 Ventures, we grow Web 3.0 propositions – from idea to global decentralized autonomous services”. Presenting a new breed of open-source software applications, decentralized autonomous services run on the blockchain under a set of encoded rules or instructions, without the need of intermediation by third parties. In this model, organizational growth, typically an objective for current type of organizations, becomes obsolete as the point of focus is shifted towards the innovation itself and the value it creates for its users.
“We focus on incubating blockchain-powered innovation in the domains of fintech, logistics, geolocation and supply chain. In these, we select sustainable blockchain projects, incubate them for a successful Initial Coin Offering (ICO) event and oversee the development process until the final release to the community.”

In recent months, ICOs have proven to be a preferred method of financing among cryptocurrency and blockchain startups, surpassing angel and seed VC funding in total amount of money raised.  This presents a novel model of funding innovative propositions that rewards the entrepreneurs and earliest adopters and backers of the proposition. Similar in concept to crowdfunding, during an ICO event users provide funding for the development of a proposition in the form of highly liquid cryptocurrencies, such as Ether or Bitcoin, and in exchange receive newly emitted tokens, linked to the particular proposition.

In the final week of October, Web3 Ventures  participated at Uprise Festival in Dublin, announcing their first project – UNL, an application built upon the decentralized web that will bring crypto-economy to the worlds of logistics, transportation and hyperlocality.