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Welcome to Polkadot Decrypt Week.
Founding institution to cooperate with Polkadot
Silicon Valley startup incubator Founder Institute, which has helped organizations like Udemy, OddBox and FightCamp raise funds, has announced a strategic partnership with Spotted.
The Founder Institute helps early-stage Web3 startups join the latest cohort by providing access to resources, mentors, and access to a global community of founders. Successful applicants will receive support from key people in the Polkadot community in areas such as technology and skating.
Since 2009, Founder Institute's accelerator programs, primarily focused on early-seed startups, have helped entrepreneurs raise more than $1.75 billion in funding.
The program is currently accepting applications from builders, startup founders and investors and will run from June 3 to August 2.
Applications are due to close on 19 May.
Billionaire eyes decentralized TikTok
Real estate billionaire Frank McCourt, worth $1.4 billion, said he is working with investment bank Guggenheim Securities, which is advising TikTok on the “people auction.”
The billionaire told Semaphore that if the bid is successful, he plans to transition TikTok's technical framework to an architecture created by Project Freedom.
The project aims to give social media creators more control over their data using its own decentralized social networking protocol.
In the year In 2022, Polkadot and Project Freedom entered into a formal agreement to collaborate on the first implementation of the Decentralized Social Network Protocol (DSNP).
At Polkadot Decode's annual ecosystem event in 2022, Unfinished Labs Chief Technology Officer Harry Evans announced that the frequency chain will eventually power the Decentralized Social Network Protocol (DSNP).
Frequency won the bid to become a parachain on Polkadot in November 2022, and the lease runs until at least September 2024.
Amplus Labs President Braxton Woodham sat down with Kusamarian a year ago to discuss how Frequency can help verify truth in social media.
Peaq to participate in the Mastercard Start Path program
Pick, one of Polkadot's most popular parachains, has been selected for the MasterCard First Path program.
Peek ParaChain is used to operate and maintain decentralized physical infrastructure networks (DePINs), including sensors, wireless infrastructure and energy networks, integrating these with Web3.
Peek-based DPins are used for everything from combating noise pollution, in the case of the Munich-based Silencio network, to rewarding app map metrics with crypto tokens for driving.
MasterCard's program works on Pec-native DePINs to enable machines to take advantage of MasterCard's extensive network and functionality, as well as to streamline transactions between the Pec ecosystem and the fiat space.
The partnership explores the potential of Peek tapping MasterCard's network for new partnerships and collaborations.
Alumni of the Mastercard Start program include European bank Fintech Revolt and Swedish carbon tracking firm Dokonomy.
The news of the partnership comes after Peak raised $15 million in a round led by Generative Ventures and Borderless Capital in March this year.
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