Gate Ventures have invested $20 million to support the crop of talents building in the BNB Chain Alliance.
By Godfrey Benjamin
Edited by Marco T. Lanz
Updated
3 mins read
Gate Ventures, the venture capital arm of Gate.io, is betting big on blockchain innovation. According to an earlier announcement, the firm has pledged $20 million to the BNB Incubation Alliance (BIA).
This alliance, spearheaded by BNB Chain and Binance Labs, is set to revolutionize the future of blockchain development and enhance Web3 adoption. This bold investment highlights Gate Ventures’ mission to nurture blockchain startups, driving the adoption of decentralized solutions worldwide.
The BNB Incubation Alliance is more than just a program; it is a special project to connect investors, startup helpers, and developers. It aims to bring them together to support emerging projects.
BIA provides funding, guidance, and technical support to help create new blockchain ideas. These ideas are designed to make Web3 easier for more people to use. Its main goal is to bring the next billion users into the Web3 world.
Gate Ventures’ participation in the BIA program focuses on supporting ecosystems that aim for real-world benefits and widespread adoption. This partnership potentially gives startups access to valuable resources.
This includes the Most Valuable Builder (MVB) program, which helps promising blockchain projects grow. Startups can receive co-investments from top venture capital firms and financial help through BNB Chain grants.
The initiative would also give them full support for launching decentralized applications. Additionally, developers and creators are poised to gain access to $300,000 worth of infrastructure, security, treasury, and marketing services.
Kevin Yang, Managing Partner at Gate Ventures, highlighted the significance of the collaboration. He stated that he believes in the potential of the BNB Chain ecosystem to foster innovation in Artificial Intelligence (AI), Decentralized Finance (DeFi), and other areas.
Yang emphasized that this partnership would enable BIA to empower projects with real-world potential and create pathways for mass adoption.
Gate Ventures has long been a key player in advancing blockchain ecosystems. The firm is focused on decentralized infrastructure, middleware, and applications, partnering with global leaders to redefine financial and social interactions.
This $20 million pledge is another milestone in Gate Ventures’ mission to champion innovation and foster a thriving Web3 landscape. Meanwhile, Several major companies are actively investing in blockchain and Web3 projects, fueling the industry’s growth.
Binance Labs, the venture arm of Binance, has consistently supported the blockchain ecosystem, investing in platforms like Injective Protocol and Polygon. As reported by Coinspeaker, Usual raised $10 million in its Series A funding round from Binance Labs last December.
Industry leaders like Binance Labs, Kraken, and other top investors made this funding to bolster Usual’s positive growth trend. Beyond these protocols, other blockchain projects have gained significant backing from prominent VC firms like Andreessen Horowitz, Coinbase Ventures, and Digital Currency Group (DCG).
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
