The New York-based Lightning accelerator has announced its first set of companies and projects.
In Wolf’s Clothing, the first-ever startup accelerator dedicated to Lightning, announced its 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, develop their brand, secure critical early-stage funding and grow businesses that fuel the global adoption of Bitcoin.”
The selected companies are working on topics such as decentralized trading via discreet log contracts, a WeChat-style “super app” for Nostr and Lightning, automated Lightning node management, instant payments and remittances in MENA markets and more.
In addition to this announcement, as Wolf heads towards the start of 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 to Wolf has been simply incredible. From true ‘decentralized finance,’ to infrastructure, social media, payments and more, the teams joining Wolf are moving Bitcoin forward across a wide variety of frontiers.”
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, Proof, and Wolf.
The announcement coincides with tremendous growth on the Lightning Network, with the Network’s capacity at an all-time high, up 63% since the beginning of 2022. Also in focus, according to the announcement, “the explosive growth of Nostr continues with more than 2 million pubkeys writing events.” The Lightning accelerator may very well end up playing a crucial role in the global adoption of Bitcoin, fueling innovative ideas and providing critical funding to early-stage startups.