- NEO has announced the launch of the first phase of their EcoBoost Program
- This involves the recruitment of partners
The progress of the crypto market extends beyond just the increase in the value of bitcoin and other tokens in that public blockchains are becoming more popular and the blockchain ecosystem is generally becoming stronger and more robust and many firms within this space are encouraging these efforts.
NEO has had quite an eventful 2019 this far as they have upgraded their mainnet and been recognized within the industry. They are now focusing on their EcoBoost program as the first phase of the program has officially launched and this was announced via a press release on June 26, 2019.
NEO and the EcoBoost
The EcoBoost program was announced on May 14, 2019, at the Consensus 2019 event when NEO founder and CEO of NEO Global Development (NGD), Da Hongfei, announced the program which is a $100 million initiative created to support the growth of the new ecosystem. Recently the NGD launched the first phase of the EcoBoost program which focuses on recruiting EcoBoost partners and according to the press release, numerous applications were received from prestigious institutions and projects in the industry.
The new EcoBoost program was created with the intention of supporting development project partners in the ecosystem. NEO3 had been announced in late 2018 and the roadmap documenting its development has come out and a whitepaper is due to be released soon. The program will give support to the project chosen from 0-1/1-N of their project development stage and is divided into three phases which are Partner recruitment, Eco-Project recruitment, and the Accelerator process.
The first phase, which is ongoing, is the partner recruitment phase in which NEO will establish a long-term partnership with media outlets, wallet providers, large institutions such as exchanges and so on. The purpose of this is to provide a network of support for the various project in the NEO ecosystem in their various phases in the life cycle.
The second phase is the Eco-project recruitment which involves the NGD publicly inviting teams that are building projects such as developer tools and dApps to apply for the program. Support will be given by NGD based on the stage and needs of the projects at any given time and once the budget allocated has been reached, the recruitment process will end.
The third phase is the EcoBoost acceleration phase in which the needs of the new ecosystem project will be matched with the corresponding resources provided by the NEO partners in order to accelerate these projects. The projects will also be directly connected with NEO partners and NEO will also assist quality projects with free promotion.