The first edition of the Binance BuildTheBlock competition will feature 12 contests.
The Binance exchange, the world’s largest digital currency trading platform has launched the BuildTheBlock competition, a reality TV show that it said will be streaming entirely in the metaverse. Tagged as the first of its kind, the BuildTheBlock competition is designed to help aspiring Web 3.0 entrepreneurs pitch their ideas to a panel of judges in a live audience.
For the first time ever, we’re bringing the thrill of reality shows to the metaverse with #BuildTheBlock!
Watch as 12 teams battle it out to impress a live audience and a panel of judges, hoping to become the next big Web3 entrepreneur.
🗓️ Coming on May 12, 2023. pic.twitter.com/vGugzslyt4
— Binance (@binance) May 8, 2023
According to the insight gleaned from the video posted alongside the Binance announcement, the live show will feature 12 startup teams. These teams include the Mind Network, Kryptoskatt, SandBags Protocol, Wallet Guard, notebook labs, zkPass, PIP, and The Harvest among others.
Per the video, Yi He, Binance co-founder and the head of the Binance Labs will be among the four judges that will help in deciding the final vote for the best startup team participating in the competition. The other judges will include Yibo Ling, the company’s chief business officer, and Guy Turner, co-founder of Coin Bureau.
“Build The Block is Binance’s latest innovative experiment – creating the industry’s first metaverse investment competition. This program has attracted many entrepreneurs and builders alike to showcase their Web3 projects and we hope a platform like this encourages others to innovate even further,” said Yi He. “We believe in the potential of the metaverse and blockchain technology, and will continue to empower creators to build the future of internet together.”
Entrepreneurial pitching contests like this are not uncommon in the mainstream investment world, with the likes of Shark Tank pioneering such innovation. However, for the Web 3.0 world, it is an entirely new idea that Binance is pioneering. As revealed, the production of the show will be handled by Binance Studio who used its in-house global creative studio for Web3.0 to create the avatars that will be participating in the show.
The show is billed to start on May 12 and each episode of the show is set to be streamed live on the trading platform’s YouTube channel as well as on Binance Live.
Binance BuildTheBlock: The Contestants
As mentioned earlier, the first edition of the Binance BuildTheBlock competition will feature 12 contests, all offering a different product and service that can help boost the Web 3.0 world.
Wallet Guard for instance offers a “web3 security extension designed to block wallet drainers & phishing attempts while also providing confidence” on all of its user’s transactions. The wallet is open-source and has an easy installation prompt that typically takes seconds to set up.
While this is a relatively common infrastructure for the ecosystem, DappOS is building an operating protocol that will largely lower the barriers to entry for new users into Web 3.0 world. The participants are so diversified that they tend to cover every major aspect of Web 3.0 development including but not limited to Zero-Knowledge Proofs and Play-2-Earn (P2E) gaming.