Binance Labs’ $500M Fund to Catalyze Crypto, Web3, Blockchain Adoption
To drive innovation across the crypto, Web3, and blockchain industries, Binance Labs, the investment arm of the leading cryptocurrency exchange Binance, has established a $500 million fund in partnership with global investors, including DST Global Partners and Breyer Capital.
The fund will support businesses at all stages of their growth - from incubation to early-stage and late-stage development.
“The new investment fund aims to find and support projects and founders who have the potential for building and leading Web3 across DeFi, NFTs, gaming, metaverse, and more,” Binance CEO Changpeng Zhao explained.
Ken Li, the executive director of investments at Binance Labs, revealed that 14 projects are participating in the Season 4 of the Incubation Program and will receive their first funding soon.
In the infrastructure sector, candidates include Grindery, NuLink Network, FilSwan, and Starton. In DeFi, CODA and OpenLeverage. In gaming and metaverse, CoralApp, AlterVerse Inc, ChapterX, and Gamic Guild. In SocialFi, Qwestive and Reveel. And in crypto fintech, Playbux (MyCashBack) and Ambrosia Finance.