Binance Labs, the blockchain incubator arm of Binance has confirmed that it will be investing $500 million in projects building on the Ethereum web3. This announcement followed news earlier this week from Coinbase CEO Brian Armstrong to invest up to $100 million into EOS developer Block.one’s “earnings token.”
The “which startup could garner rs 500cr by september” is a news item that was released by Binance Labs. The article discusses the possibility of which startups will get $500 million in funding from Binance Labs.
Firms who are cash-strapped yet want to bring meaningful innovation in the Web3 space have gotten a big boost. Binance Labs has put aside $500,000 to help them achieve their blockchain-based ambitions.
Binance Labs, the investment arm of the Binance trading behemoth, has unveiled a $500 million Web3 investment fund, which will assist blockchain-based initiatives throughout the Web3 ecosystem. It has built a platform to accelerate the adoption of blockchain-based projects and propel the industry forward.
Several high-profile financial companies have offered their support to the massive undertaking. As a consequence, DST Global and Breyer Capital, as well as a number of other industry players, have put their support behind the initiative.
#Binance Labs announces the closing of a $500 million investment fund to support blockchain, web3, and value-creation technologies!
The fund is supported by leading global institutional investors such as DST Global Partners, Breyer Capital, & more.
— June 1, 2022, Binance (@binance)
This massive war chest will be put to use at three important phases of project development in the future. As a result, earmarking significant funding for NFTs, Gaming, DeFi, the Metaverse, and more throughout the incubation, early-stage venture, and late-stage growth stages of the development lifecycle!
“The new fund will invest in ideas that will broaden bitcoin use cases and accelerate the adoption of Web 3 and blockchain technology,” according to the press release. Binance (Binance)