Binance Labs, the venture capital and incubation arm of Binance, has invested in seven top-performing projects from the sixth season of its Incubation program.
The 2-month incubator which “commenced in December 2023, is designed to empower early-stage founders offering 1:1 mentorship from the Binance Labs Investment team, in addition to access to resources and experts across the Binance ecosystem.”
Hundreds of projects applied “for participation in season 6, with 3% being admitted to the program.”
Yi He, Co-Founder of Binance and Head of Binance Labs, said:
“At Binance Labs, our goal is to support and back serious early-stage founders. Our support extends across all chains and ecosystems for projects that are committed to long-term development across various sectors. We look forward to seeing each project’s continued growth and contribution to the Web3 ecosystem.”
At Binance Labs, they claim to “have a strong network of Incubation alumni who they continue to support with meetup events and virtual mixers.”
During Incubation Season 6 they “hosted the first Incubation Showcase during Binance Blockchain Week 2023, allowing projects from our Incubation cohorts the opportunity to present their pitches to investors and gain exposure with attendees.”
Incubation Season 6 projects invested by Binance Labs (ranked in alphabetical order by each sector):
DeFi
- Derivio – a decentralized structured derivatives ecosystem on zkSync that aims to unlock the full potential of DEXs for users, builders, and institutions.
- Ethena is a derivative infrastructure provider to transform ETH into the first crypto-native yield-bearing stablecoin with no reliance on banking systems.
- Shogun – is an intent-centric protocol that aims to maximize trader extractable value (TEV) via optimized orderflow and complete chain abstraction.
Infrastructure
- UXUY – a multi-chain platform based on MPC and AA wallet technology with intent-centric features, minimizing the entry barriers to decentralized trading.
Application layer:
- Cellula is a fully on-chain autonomous life simulation strategy game offering composability and persistence.
- NFPrompt is an AI-driven UGC platform designed for the new generation of Web3 creators, including all emerging standards such as NFT, inscription and 404. An all-in-one platform powering AI-creation, social communities, and commercialization.
- QnA3 – an AI-powered Web3 knowledge sharing and search platform. With its own proprietary data lake, QnA3 empowers users to effortlessly access Web3 information and knowledge with a single click.
The announcement of these investments officially “concludes season 6 of the Binance Labs Incubation Program.”
