The Binance Labs Incubation Program season 6 is set to kick off on September 25 meant to offer technical and financial support.
The investment arm of the Binance exchange, Binance Labs, has announced the selection of 12 crypto projects that will participate in season six of the incubation program. According to the announcement, the selection of the twelve teams was thoroughly reviewed to ensure the two-month curriculum yields the best possible Web3 developers. Notably, the twelve selected teams meant to participate in the Binance incubation program are building projects across the DeFi ecosystem, blockchain infrastructure, and the application layer.
Binance Labs was created to invest in the best startups in the crypto industry. The Binance Labs innovation program began in 2018 and helped many startups realize their potential over the years. For instance, the Binance incubation program has matured the SafePal hardware wallet, Injective Protocol, and Akio Labs, among many others.
“At Binance Labs, our mission is to identify and support early-stage founders who have demonstrated the capacity to create innovative technological solutions, thereby positively impacting the broader Web3 ecosystem. Through our Incubation Program, we leverage resources from our entire ecosystem to provide advisory support, enabling founders of early-stage projects to grow alongside us,” Yi He, Binance Co-Founder and Head of Binance Labs, noted.
Binance’s Season 6 Incubation Program Participants
The cryptocurrency exchange selected web3 projects from different categories to ensure balance in the blockchain development. Moreover, the blockchain and cryptocurrency industry has a lot of new participants but few have reached the self-sufficient level in technical expertise and financial aspects.
We’re excited to welcome the Season 6 Incubation Program cohort🎉
— Binance Labs Fund (@BinanceLabs) September 21, 2023
In the blockchain infrastructure segment, Binance selected Vistara and UXUY to participate in season six of the incubation program. Notably, Vistara is a one-click rollup deployment framework geared towards designing scalable infrastructure across different execution environments. The UXUY, on the other hand, is best described as a multi-chain platform based on the MPC and AA wallet technologies.
In the DeFi segment, Binance Labs selected BBOX, Derivio, Ethena, and Shogun, to participate in the eight weeks incubation curriculum. In the Artificial Intelligence (AI) segment, Binance Labs selected MyShell, NFPrompt, and QnA3 to represent in the incubator program.
In the SocialFi and GamiFi sectors, Binance Labs selected Cellula, Crypto Café, and MetaCene to participate in season six of the incubation program.
In a bid to democratize the cryptocurrency market, Binance has focused on working with different entities, even its competitors. Moreover, the adoption of digital assets and blockchain technology is so young with only about 420 million people currently invested in crypto assets out of over 8 billion. As a result, Binance is expected to remain a major crypto player even though it faces intense regulatory hurdles in the United States among other jurisdictions.