Binance Labs builds $500 million fund to foster blockchain, Web3 technologies
Binance Labs just created a $500M investment fund to foster cryptocurrency use and boost the adoption of blockchain and Web3 technologies.
The venture capital and incubation arm of Binance—Binance Labs—has announced it closed a $500 million investment round. The fund received support from global institutional investors DST Global Partners and Breyer Capital.
“In a Web3 environment, the connection between values, people, and economies is essential, and if these three elements come together to build an ecosystem, that will accelerate the mass adoption of the blockchain technology and crypto,” said Changpeng Zhao ‘CZ’, Founder and CEO of Binance. “The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web3 across DeFi, NFTs, gaming, Metaverse, social, and more.”
The funding will be used to support projects at different stages of growth. It will invest in both incubation and early-stage ventures, as well as late-stage growth. The investments can be expected across various sectors of cryptocurrency and Web3, including infrastructure, DeFi, NFTs, gaming, Metaverse, social, and crypto adoption platforms.
Binance Labs has already invested in more than 100 projects, including some well-known projects like Axie Infinity, Dune Analytics, Elrond, Polygon, and The Sandbox.
Read related posts:
- Binance Restricted Russian Users
- How to buy Solana NFTs: A beginners guide to buying NFTs with SOL
- $154M Burned in Gas Fees During Otherside Lands Minting
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.
More articles
Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.
