Binance Labs Announces Investments in Seven Major Projects

Binance‘s venture capital arm and accelerator Binance Labs announced that they would invest in seven selected projects the Most Valuable Builder (MVB) Accelerator Program. 

Co-led by BNB Chian, the MVB accelerator program seeks to offer funding and mentorship to project founders along with helping them on board and scale on the BNB chain. The fifth cohort of the MVB Accelerator Program kicked off earlier this year in June 2022. This program already has 700 applications under its belt.

During the 3-month incubation period, Binance Labs offered coaching, network assistance, as well as ecosystem integration support. The project founders collected information from industry veterans on several different topics. This includes infrastructure scaling, product innovation, user optimization, tokenomics, and strategic branding. Binance Labs conducted more than 10 workshop sessions for the same.  Yi He, Co-Founder of Binance and Head of Binance Labs, commented:

“The MVB Accelerator Program helps innovative projects scale on the BNB Chain so they can reach their full potential. Binance Labs supports founders on their product, operations, community, and capital needs. These projects will grow further and positively impact the BNB Chain and the broader crypto ecosystem.”

Seven Projects Supported By Binance Labs

Before investing in the seven projects, the Binance Labs team conducted an in-depth project analysis along with an investment assessment. The seven projects selected by Binance Labs for investments include:

1. Overeality: They are building infrastructure for Web 3 interoperability and scalability. Overeality designs and implements scalable zero-knowledge proof systems for zkBridge as well as zkRollups acceleration.
2. SpaceID: They are building decentralized censorship-resistant, and open-sourced universal identifiers. Users can represent their identities across DApps and blockchain with human-readable domain names.
3. Meta Apes: This is a free-to-play mobile strategy game. It is the first game to be built and launched on the BNB sidechain. Meta Apes already has more than 400,000 global players. The game shows a post-apocalyptic world after the end of humanity where Apes have taken over the rule.
4. Multichain Event Protocol (MEP): This is an interoperability communication protocol described as a secure mutual communication channel built atop a multichain cache, authentication service, and execution environment.
5. Web3Go: This is a multichain open data analytics platform supporting on-chain events as well as push notifications. Web3Go will index blockchain data and present it in a formatted manner for users to translate data into visualizations.
6. Velvet Captial: This project makes DeFi sleeker as well as safer. Velvet Capital guides users to invest in tokenized portfolios automatically. To ensure a broad exposure, Velvet Capital will support assets across several different projects and ecosystems. This allows users to earn additional yield.
7. Gameta: This is a platform that will allow users to play different casual games under one roof. They are also working on building a seamless Web 3 migration process for users.

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