Friday, June 21, 2024

Binance Labs’ $500 million fund aims to accelerate cryptocurrency, Web3, and blockchain adoption.

The investment branch of Binance Labs, the famous giant in the crypto industry, has introduced a fund worth $500 million. This, in partnership with international investors that include Breyer Capital, has the aim of driving innovation over the landscape of Web3, crypto and blockchain applications. The fund will be allocated to projects in different phases that include periods of incubation, early growth and later growth. The CEO of Binance, Changpeng Zhao, has his own opinion on the speeding up of the ecosystem that makes up cryptocurrency. He stresses on the importance of values that link people and economies to produce something perfect.

Achieving Goals

Binance Labs’ goals in creating this fund are clear. The fund is to facilitate the discovery and support of fresh founders and their projects. In turn, these innovative ideas would have the potential to grow, build and lead Web3 over DeFi, gaming, NFTs, social, metaverse, and more. Binance Labs is a new company itself, having formed in 2018. Since then, it has made investments in over 100 global projects. There’s another fun fact about Binance. It has invested $3 million in the blockchain applications of Terra’s layer 0 in 2018.

Funding Innovation

The executive director of investments of Binance Labs, Ken Li, stated that in Season 4 of the Incubation Program, there are 14 projects on. They will get funding from the fresh fund. Some eligible startups worth a mention are NuLink Network, Grindery, and Starton.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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