Binance Labs concludes its sixth incubation season, investing in seven early-stage projects in AI-powered DeFi, infrastructure and DApps, signaling strong support for innovative Web3 solutions.
Binance Labs, the venture capital and strategic incubator arm of leading cryptocurrency exchange Binance, has officially completed its sixth season of the incubation program, announcing investments in seven promising early-stage blockchain projects. The move underscores Binance Labs’ continued commitment to fostering innovation and long-term development within the blockchain and cryptocurrency ecosystem.
The incubation program, which began in December 2023, is a two-month initiative designed to provide hands-on mentorship and support from the Binance Labs Investment team, along with access to the extensive network and resources of the Binance ecosystem. Out of hundreds of applicants, only 3% were admitted to the program, highlighting the competitive and rigorous selection process that prioritizes high-potential projects.
Yi He, co-founder of Binance and head of Binance Labs, commented on the success of the program and the company’s vision, saying, “Binance Labs is dedicated to supporting serious early-stage founders. Our support spans all chains and ecosystems for projects that demonstrate a genuine commitment to long-term growth across sectors. We look forward to the continued progress of these projects and their contribution to the Web3 landscape.”
The seventh season of the Binance Labs Incubation Program has been announced, with applications being accepted on an ongoing basis. This presents a new opportunity for innovative founders who aim to impact the blockchain industry.
Incubated projects for Season 6 reflect a diverse range of sectors, including decentralized finance (DeFi), infrastructure and AI-powered applications. These projects are:
Derivio: A decentralized ecosystem for structured derivatives of zkSync, aiming to improve the utility of DEX for users, developers and institutions.
Athena: A derivative infrastructure provider that seeks to transform ETH into a profitable crypto-native stablecoin without relying on traditional banking systems.
Shogun: An intent-driven protocol designed to maximize the value a merchant can derive through optimized order flow and chain abstraction.
UXUY: A multi-chain platform using MPC and AA wallet technology to lower barriers to entry in decentralized commerce.
Cellula: An autonomous circuit life simulation strategy game featuring composability and persistence.
NFPrompt: An AI-Driven Platform for Web3 Creators Integrating AI Creation, Social Communities, and Commercialization.
QnA3: An AI-powered knowledge sharing and search platform tailored for Web3, with its own data lake for seamless access to information.
Binance Labs boasts a portfolio of over $10 billion, with investments in 250 projects in more than 25 countries. The venture capital division highlights its success with a ROI of over 14x, demonstrating its significant influence and leadership in the blockchain investment space.
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