Binance Labs invests in diverse projects from its MVB program’s sixth season, aiming to strengthen the BNB Chain ecosystem in DeFi, infrastructure, and Web3 gaming.
Key Points
- Binance Labs invests in four projects from its MVB program’s sixth season, enhancing the BNB Chain ecosystem across DeFi, infrastructure, and Web3 gaming.
- Yi He, Co-Founder of Binance, highlights support for innovative projects and positive impact on the Web3 ecosystem.
- The MVB Program’s selective sixth season concluded with over 1,400 applications from around the world.
- Binance Labs’ investment history includes over 200 projects, $9 billion in assets, and 1260% ROI; BNB Chain has powered 3 billion transactions and 1,400 active dApps.
Binance Labs, the venture capital and incubation arm of Binance, has recently announced its investment in four projects from the sixth season of its Most Valuable Builder (MVB) program.
This investment aims to further develop the BNB Chain ecosystem, and the announcement was made on Binance’s official blog. The selected projects cover a range of sectors including DeFi, infrastructure, and Web3 gaming.
We’re excited to announce we’ve made an investment in 4 top performing projects who participated in MVB VI🎉
🔸@alt_layer
🔸@KiloEx_perp
🔸@kinzafinance
🔸@SleeplessAI_LabRead more👇https://t.co/yrezSyksdJ
— Binance Labs Fund (@BinanceLabs) August 4, 2023
Yi He’s Comments
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed her thoughts on the investment, stating, “At Binance Labs, our vision is to empower and support early-stage founders who are dedicated to building innovative projects with long-term potential.
Through the MVB Program, we have identified four high-performing projects from various sectors. We are excited to witness their continued growth and positive impact on the wider Web3 ecosystem.”
Success of the MVB Program
The MVB Program’s sixth season concluded in June 2023, receiving over 1,400 applications from around the world.
The program maintains a highly selective admissions process, with less than 1% of the applicants being accepted. Majority of the applicants were based in North America, Europe, and the Asia-Pacific region.
Binance Labs has been actively investing in projects since 2018 and has supported over 200 projects across six continents, accumulating $9 billion in total assets.
With a remarkable 1260% rate of return on investment, Binance Labs has incubated more than 50 projects native to Web3, such as Polygon, Perpetual Protocol, and Dune Analytics.
BNB Chain is a decentralized blockchain powered by BNB, facilitating over 3 billion transactions from 200 million unique addresses to date. The ecosystem boasts more than 1,400 active dApps covering multiple categories, including DeFi, Metaverse, blockchain games, NFTs, and more.
Concluding Thoughts
Binance Labs’ investment in these four projects reaffirms their dedication to promoting innovation and meaningful use cases within the Web3 industry.
It is a testament to their commitment to incubating and supporting high-potential projects that contribute to the sustainability and scalability of the Web3 ecosystem. Applications for the new season of the Binance Labs Incubation Program are currently open and will be until August 15th, 2023
