Binance Labs has completed its sixth incubation season, investing in seven early-stage projects in DeFi, infrastructure, and AI-powered DApps, showing strong support for innovative Web3 solutions.
Binance Labs, the venture capital and strategic incubator arm of the leading cryptocurrency exchange Binance, has successfully finished its sixth season of the Incubation Program. They have announced investments in seven promising early-stage blockchain projects, highlighting their commitment to fostering innovation and long-term development within the blockchain and cryptocurrency ecosystem.
The Incubation Program started in December 2023 and is a two-month initiative that provides mentorship and support from the Binance Labs Investment team, along with access to the resources of the Binance ecosystem. Out of hundreds of applicants, only 3% were admitted, showcasing the competitive selection process that prioritizes high potential projects.
Yi He, Co-Founder of Binance and Head of Binance Labs, commented on the program’s success, stating, “Binance Labs is committed to supporting early-stage founders who show dedication to long-term growth in various sectors. We are excited to see the progress of these projects and their contributions to the Web3 landscape.”
The seventh season of the Binance Labs Incubation Program has been announced, and applications are accepted on an ongoing basis, providing an opportunity for innovative founders looking to make an impact in the blockchain industry.
The Season 6 incubated projects cover DeFi, infrastructure, and AI-powered applications, including:
– Derivio
– Ethena
– Shogun
– UXUY
– Cellula
– NFPrompt
– QnA3
Binance Labs has a portfolio of over $10 billion, with investments in 250 projects across 25 countries. They have achieved an ROI rate of over 14X, showcasing their impact and leadership in blockchain investment.
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