Cash-strapped companies looking to provide genuine innovation within the Web3 sphere have gotten a big boost. Binance Laboratories has set aside half a million dollars to help them in their blockchain-powered goals.
Binance Labs, the investment arm of the Binance commercial goliath, has announced a massive $500 million Web3 investment fund, offering support for blockchain-based projects throughout the Web3 sphere. It has created a launchpad to drive the adoption of blockchain-based projects and spearhead the growth of the industry.
To support the powerful effort, several high-profile investment firms have pledged their assistance. As a result, both DST Global and Breyer Capital have provided support, as well as a number of additional powerful industry partners.
#Binance Labs Closes $500M Investment Fund to Power Blockchain, Web3, and Value-Creating Technologies!
The fund is backed by leading global institutional investors including DST Global Partners, Breyer Capital and more.
—Binance (@binance) June 1, 2022
In the future, this great war chest help three key stages project development. Thus, providing assistance during the incubation, early-stage company, and late-stage growth phases of the development lifecycle, earmarking the sizable funds for NFTs, gaming, DeFi, Metaverse, and more.
“The new fund will invest in projects that can expand cryptocurrency use cases and drive adoption of Web 3 and blockchain technologies.-Binance
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