BroadChain has learned that on March 31, Coinbase founder Brian Armstrong announced the launch of an internal venture initiative called "Next Bets." The program enables employees to submit innovative project ideas and pitch them directly to product leads, with approved projects moving forward to implementation.
The call for proposals opens twice a year and typically involves small teams of two to three people, concentrating on high-potential areas within the crypto ecosystem.
Armstrong explained that the initiative is designed to prevent the loss of promising ideas and talent, taking inspiration from similar successful models in the tech industry's history.
According to the announcement, the Base blockchain project was born out of this very program, with more related updates expected to be shared in the coming weeks.