Amber Group Accelerator amberac Launches with Enhanced Support for Crypto Community Catalyzing Blockchain and AI Innovation

CoinDesk Report:
On July 3, 2024, leading global digital asset firm Amber Group hosted a press conference in Singapore to unveil its new accelerator program “amber.ac”. The event saw the official announcement of inaugural incubatees edgeX and Haven One, alongside the launch of the inaugural BUIDL_QUESTS challenge. Participants included Professor Wang Yang, Vice President of the Hong Kong University of Science and Technology, DeFi projects like 0xScope and Pendle, crypto VC firms Superscrypt and Spartan Group, among others. The initiative garnered support from top industry media such as PANews, Odaily, MetaEra, ChainCatcher, and DeThings, both offline and online, to witness the highly anticipated debut of Amber Group’s new accelerator program amber.ac (https://amber.ac/).


amber.ac
Vision: Empowering the crypto community, catalyzing forefront crypto innovations
Amber Group Co-founder and CEO Michael Wu delivered the opening speech, outlining the inception and underlying principles of amber.ac. Michael emphasized Amber Group’s seven-year commitment as a comprehensive crypto financial services provider, leveraging robust technology, liquidity, and expertise across its four core businesses—ALIR (Advisory, Liquidity, Investment & Research), Asset Management, Digital Wealth Management, and Enterprise Infrastructure Solutions.
“Over the past seven years, Amber Group has bridged the native crypto world with the larger non-crypto world. Now, Thomas Zhu and I are pondering how to connect and synergize with crypto industry entrepreneurs, contributing to the next phase of crypto industry development,” Michael remarked.
“Empowering the crypto community and catalyzing forefront crypto innovations is why we launched amber.ac, a shared vision among the Amber Group team, including our dearly departed co-founder TT,” Michael added.


amber.ac
Concept: Crypto for AI, driving the future economy with blockchain and AI
The core concept of amber.ac is “Crypto for AI (C4AI)”, aiming to provide infrastructure for the AI economy using blockchain and token technologies. Through the amber.ac accelerator program, Amber Group seeks to discover and support exceptional early-stage crypto startups globally, offering targeted funding, technical support, expert guidance, and ecosystem resources to help entrepreneurs turn innovative ideas into reality.
Michael highlighted that crypto applications are still in their early stages but hold immense potential with the AI economy, which brings massive data and transactions. Blockchain technology enables trustless transactions, providing secure infrastructure for the AI economy, while token technology digitalizes representations of assets for free and algorithmic trading.
“In the AI economy, there’s much to build within the crypto space. We’re still early, but close to the future. As entrepreneurs, we need to transcend beliefs and have the courage and conviction to truly ‘build for the future’. amber.ac is committed to building the future alongside all like-minded individuals,” Michael emphasized.
Watch amber.ac introduction video:
https://youtu.be/ereD5A3-XjQ?si=sHUTkE-fLvYxCsjv


amber.ac
Inaugural Incubatees Revealed: Haven One and edgeX
The launch also revealed the first batch of incubatees by amber.ac—Web3 major AAA project Haven One and edgeX. edgeX, a high-performance, modular financial system, is set to release its Minimum Viable Product, edgeX exchange, in July, a high-performance Perp DEX based on order book.
HKUST’s Professor Wang: Blockchain innovation as great as AI, regrets missing two Bitcoin opportunities
Under Michael’s moderation, Amber Group also had the honor of hosting HKUST Vice President Professor Wang Yang and Temasek-backed Web3 fund Superscrypt Founding Partner Jacob Ko for a fireside chat on “FOMO, FUD, HODL, BUIDL, MEME”.
Discussing the “Fear of Missing Out” (FOMO), Professor Wang admitted to experiencing “Regret of Missing Out” (ROMO). He initially dismissed Bitcoin as a scam over a decade ago but now regrets missing two excellent opportunities.
Jacob stressed the importance of “community” in Web3. He noted that while the concept isn’t new, it has been redefined in the Web3 world, becoming the driving force and source of the entire ecosystem’s operation. Building together, cooperating, and leveraging the community can achieve greater impact than the sum of its parts.
“Blockchain and AI are among the greatest innovations of recent years, thanks to the relentless pursuit and efforts of countless entrepreneurs, builders, and developers. Without them, we wouldn’t be discussing these topics,” Professor Wang concluded.
Watch the fireside chat video:
https://www.youtube.com/watch?v=hPHleJmHNOU


BUIDL_QUESTS:
Focus on Distributed AI and BTCFi, total prize pool up to $40,000
At the launch ceremony, Amber Group also announced the inaugural Web3 challenge of amber.ac—”BUIDL_QUESTS”. Open to all Web3 builders, BUIDL_QUESTS offers a total prize pool of up to $40,000, with selected finalists having the opportunity to join the amber.ac accelerator program for entrepreneurial guidance and support.
The first BUIDL_QUESTS will cover two major tracks:
Distributed AI:
Innovating the application of distributed ledger and decentralized technologies for artificial intelligence.
BTCFi:
Enhancing Bitcoin’s capabilities and functionalities as a financial platform application.
BUIDL_QUESTS opens for comprehensive registration on July 15, allowing participants to submit projects in any track of their choice. For more details, visit http://amber.ac/BUIDL_QUESTS or email [email protected].
About Amber Group
Amber Group is a leading global digital asset firm, established in 2017, offering a comprehensive suite of digital asset wealth management, asset management, market-making, consulting, investment, and infrastructure services. Combining cutting-edge technologies such as artificial intelligence and blockchain with quantitative research, Amber Group provides tailored, pioneering solutions to high-net-worth individuals, institutions, crypto funds, exchanges, and projects, helping them maintain competitive advantages and achieve optimal returns in the market. Amber Group bridges traditional finance with digital assets, boasting extensive experience in both traditional and crypto financial markets, backed by top-tier investors including Sequoia, Tiger Global Management, Pantera, Coinbase Ventures, and Distributed.