- QuestBook is a blockchain startup decentralizing Web3 grant programs for developers.
- On-chain grant orchestration tool: Explore opportunities, funding, and transparent collaboration.
- Foster a vibrant Web3 ecosystem, attract talent, and redefine company-developer relationships.
Picture yourself in a world where reality and the virtual realm are entwined. No, not scary mind-controlling chips in your head, we’re talking about Web3! A digital experience that allows for more individual control, cryptocurrency, decentralized record keeping on the blockchain, and transparency of information.
Web3 fuses artificial intelligence, virtual reality, and blockchain technology to create a digital ecosystem that can be shared by all. Not only is Questbook itself Web3, but it is also a blockchain startup that aims to decentralize grant programs and support developers transitioning into the Web3 space.
They’re here to make decision-making easier by providing the means to make the process fairer. With a focus on DAOs (decentralized autonomous organizations), QuestBook provides a platform for developers to explore new opportunities, work on passion Web3 projects, and earn capital.
In the startup’s own words, “Web 3.0 is an open, trustless and permissionless network that enables a future where distributed users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties”.
Look at developers as the architects of tomorrow’s digital landscape and navigate through the unchartered territories of Web 3, Questbook acts as a compass.
So what is Questbook?
Questbook, co-founded by Abhilash Inumella, Subhash Karri, Sriharsha Karamchati, and Madhavan Malolan, aims to fast track to this digital landscape utopia by initially establishing itself as a learning and ed-tech platform in 2021 and then making a strategic shift in 2022 to develop the on-chain grant orchestration tool.
I know that's a pretty scary term. Let me explain. Think of on-chain grant orchestration tools as a library checkout system. You borrow books and then return them according to the system.
These tools work similarly by keeping track of who gets to borrow certain resources (grants), and for how long. They make sure that everyone gets a fair chance to read a certain kind of book, and in this case, a certain kind of grant so that everyone gets a chance to benefit from them.
The startup's vision is to create a seamless connection between companies and developers, allowing firms to award grants and developers to find and invest in new projects.
What else does it offer?
This isn't your ordinary platform, it utilizes various factors such as developers' history on-chain and GitHub to screen projects, enabling clients to invest in developers in a more transparent manner. QuestBook's grant orchestration tool also offers increased accountability.
Developers have the power to vote to replace individuals who are not performing adequately, ensuring that the grants are managed effectively. This decentralized approach encourages collaboration and fosters a vibrant ecosystem where developers can thrive.
QuestBook aims to attract talented developers who are passionate about creating groundbreaking solutions, thereby driving the advancement of the Web3 ecosystem.
The startup's long-term vision includes solving how capital is allocated in the developer landscape and providing opportunities for them to access capital easily.
QuestBook also aims to develop strong credibility, and efficient workflows, to enable developers to smoothly find work opportunities and maximize their potential.
As QuestBook continues its journey, it seems to be committed to addressing the gaping hole in the developer ecosystem. By providing free coding tutorials and resources, the company has already attracted over 18,000 developers, creating a passionate community of learners and builders, and closing the whitespace with the help of literacy among the developers.
The startup recognizes the need for long-term incentives to encourage developers to code for Web3 projects and explore the opportunities presented by the decentralized future.
It’s like they have created a digital playground where creativity and curiosity run wild, transforming the idea of a digital utopia into an attainable concept.
Getting into further detail, DAOs, considered the future of the internet, are autonomous entities led by the community with varying degrees of central control.
They play a crucial role in managing blockchain protocols and offer grants to attract talented developers. However, the industry lacks a standardized approach to deploying these grants.
QuestBook seeks to bridge this gap and empower developers to engage with the grant ecosystem in a more efficient, transparent manner. Looking beyond grants, QuestBook envisions a future where developers can showcase their credentials on-chain and explore diverse crypto-earning opportunities.
By providing a range of work opportunities, the startup aims to empower developers and broaden their horizons in the Web3 space.
To support its ecosystem, QuestBook has built its own tool that enables users to conduct transactions without incurring transaction fees.
Designed specifically for information-based transactions rather than monetary transactions, this wallet provides a seamless experience for developers, allowing them to focus on their projects without worrying about transaction costs.
Partnerships and Statistics
Through these partnerships, QuestBook assists developers in securing grant money, facilitating the distribution of over $1.5 million in grants. The startup plans to increase the disbursement of grants from $30 million to $50 million over the next two quarters.
This influx of capital aims to drive innovation and attract developers to Web3 projects.
In terms of funding, QuestBook has already secured $10.1 million to date. In its recent 'Series A' funding round, the startup raised $8.3 million from investors such as Lemniscap, Coinbase Ventures, Alameda Research, Dragonfly, Hashed, Polygon, Balaji Srinivasan, Raj Gokal (Solana), Arjun Sethi (Tribe Capital), and Maneesh Sharma (GitHub).
This funding will further fuel QuestBook's mission of supporting developers and facilitating the growth of Web3 projects.
As QuestBook paves the way for developers in the Web3 space, it strives to redefine the relationship between companies and developers, offering a platform that fosters collaboration, transparency, and growth.
With its innovative grant orchestration tool, strategic partnerships, and commitment to empowering developers, QuestBook is at the forefront of revolutionizing the Web3 landscape and shaping the future of decentralized innovation.
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Edited by Shruti Thapa