This latest investment has a real sense of direction from Binance Smart Chain.
Investment Program Sets Stall
Binance Smart Chain has doubled down on their determination to fund prospective and worthy projects, outlining how they intend to use their investment program.
The cryptocurrency powerhouse has already exemplified its intent with the $100 million support fund last year that saw 40 projects receive seed funding of up to $1 million. So, when the announcement of a $1 billion growth fund came through, excitement was understandably at a high.
“We will continue making direct investments in promising projects and startups.” BSC Matthew outlined, in an announcement on the Binance webpage on November 2nd.
The team has put forward the sectors they intend to focus on in the latest round of investments:
Decentralized Computing & Web 3 Infrastructure
Web & Dev Tools
Advanced DeFi
SocialFi
Real-World Assets
The areas of focus are broad, and those seeking direct investment will be able to stake their case through an application for funding which can be completed in this doc.
Co-Investment Collaborations
The announcement also explained that they are aiming to work toward setting up a way in which industry leaders and established institutions can also become a part of the exciting future being built.
“We want to set up co-investment vehicles with industry leaders, especially traditional Web2 institutions interested in exploring Web3,” BSC Matthew continued. “We are interested in scaling blockchain technology for real-life use cases and bridging the gap between cryptocurrencies and blockchain and the current giant mass-market sectors.”
The team has a clear appetite to underline the importance of CeFiDeFi collaboration because the understanding is that for there to be mass adoption, institutional backing must come.
This latest drive focuses on allowing market leaders to become a part of developments in:
Decentralized Computing
Gaming/GameFi
Advanced DeFi
SocialFi
Real-World Assets
Aspects of Web3 are quickly becoming a vocal point of interest for established institutions. Indeed these market leaders have been invited to signal their interest by completing this doc.
This latest effort is sure to drive interest and bridge the gap toward mass adoption, we look forward to covering developments as they follow.
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Source : bsc.news
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