Venom Foundation has announced the launch of Venom Labs, a $500,000 grants program designed to foster blockchain innovation on the Venom network. The initiative provides non-dilutive funding and resources to projects with well-defined roadmaps, minimum viable products (MVPs), and sustainable business models. In its first round, Venom Labs awarded $50,000 each to NFTWood and TimeSoul. The program aims to enhance real-world blockchain applications and drive user growth.