Th fund will seek to invest in projects that build out the use cases of cryptocurrencies and expand the adoption of Web3 and blockchain technologies.
Binance Labs closed $500 million investment fund to boost blockchain, Web3, and value-building technologies. The institutional investment partners will include DST Global Partners, Breyer Capital, and Whampoa Group, as confirmed via blog post on June 1.
Regarding the development, Binance CEO, Changpeng Zhao ‘CZ’, said:
“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. 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.”
More to follow.
What is BNB Chain:
BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain-powered by BNB. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
For more information on BNB Chain, these links:
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