A major Web3 ecosystem just launched a $3 million startup fund with a twist—the community calls the shots. Rather than letting a traditional board of judges decide which projects deserve backing, the fund operates through a build-in-public hackathon model where users themselves vote on which startups get access to capital.

This approach flips the script on typical venture funding. Participants submit projects publicly, showcase their progress, and the ecosystem community directly determines winners through community voting mechanisms. It's a fascinating experiment in decentralized capital allocation within the Web3 space.

The $3M allocation signals serious commitment to nurturing the next wave of builders. For emerging projects, this represents a funding pathway that doesn't require pitching to institutional gatekeepers—just solid execution and community resonance.