Beacon, the Web3 accelerator, has wrapped up its first cohort with 13 graduating companies and has provided a venue for project founders to demo their blockchain-based startups.

Beacon’s first 12-week cohort, dubbed Cohort 0, began in October with 15 companies across various cryptocurrency sub-sectors, including decentralized finance (DeFi), gaming, and infrastructure. Beacon held a demo day on January 10 with 13 graduating companies: Arcana, Blinkmoon, ChapterX, Colexion, Community Gaming, Cubist, FastLane, Meta Apes, Mystic Moose, Nillion, Davos Protocol, Timeswap, and Ylide.

Polygon co-founder and Beacon creator Sandeep Nailwal described the first batch of graduates as the “Beacon MVP” because they were the first to demonstrate the independent utility of the throttle chain.

Nailwal said Cohort 0 dealt with significant adversity as the turmoil from the FTX crash reverberated throughout the market. “We were worried that companies might start to drop out, so discouraged by the crypto markets,” he said, referring to the FTX bankruptcy. “Instead, they all showed up and were ready to keep building through this.”

Applications for the next intake, Cohort 1, will be open through January 31, with up to $8 million in funding offered to 32 startups. Nailwal said applicants would be judged by their project team, global reach, community and Web3 product solution.

Related: Cointelegraph Accelerator Program Launches and Seeks Web3 Startups

Investing in Web3 has dominated the venture capital scene for the past 12 months, as investors continued to back Internet startups. In November, the Web3 sector saw 23 individual deals valued at a combined $168.3 million, according to Cointelegraph Research. Only infrastructure projects demanded a higher dollar amount.