Polygon co-founder Sandeep Nailwal and the venture capital firm Symbolic Capital he helped found announced Monday the launch of a new Nailwal Fellowship, offering financial support to early builders making the leap from Web2 to Web3. Nailwal pledged to donate his own money to 10 builders selected each year, totaling $500,000. This scholarship focuses on individuals rather than teams. The program is open to all Web3 builders regardless of age or geography. The Nailwal Scholarship is open for applications from May to early June each year.

It was reported last year that the Polygon co-founders founded the Web3 fund SymbolicCapital and raised $50 million in funding to support early Web3 projects.