Blockchain and a number of other Web3 initiatives are accelerating their outreach to developers by conducting hackathons, distributing awards, and providing other possibilities, all in an effort to recruit people who can code. Unfortunately, they lack the resources necessary to examine the numerous applications they get. This is a disadvantage for them since it may deter a lot of builders who may contribute significantly to their projects.
A startup known as Questbook is taking the lead in making attempts to solve that issue and more. Speaking today, the startup said it has raised a sum of $8.3 million in its Series A funding.
Many investors participated in the financing round. Taking the lead was Lemniscap and some of the other investors including Coinbase Ventures, Hashed, Polygon, BalajiSrinivasan, Raj Gokal of Solana, Dragonfly, Arjun Sethi of Tribe Capital, and Maneeh Sharma of GitHub.
QuestBook runs on a unique platform. With the platform being eponymous, it allows firms to give grants to developers and also invest in them. This is done in an efficient and more transparent way.
The company was established in May of 2021. Initially, the objective was to assist builders in earning bitcoin. In the long run, however, as one of the co-founders, Madhavan Malolan, noted, it was discovered that few developers understood how to write in Solidity and Rust, the programming languages underlying Ethereum and Solana blockchains, respectively.
To begin, QuestBook started by teaching developers coding in these languages. This teaching was done at no cost from the developers. In addition to this, QuestBook also published more than 100 tutorials for anyone who would like to get started. Just the training on coding attracted more than 18,000 developers. Looking at this huge number, QuestBook has been on the move, looking for ways to help developers secure funds to build their projects.
Speaking in an interview, Malohan said, “That’s something we always kind of vibe with.” For example, I have never bought any crypto in my life. “I earned all of my cryptocurrency by contributing to open-source projects.”
He further stated that the company is looking at ways to enable people to achieve financial mobility by earning from cryptocurrency, even as a side job in conjunction with their main jobs.
