Binance Labs selects 12 projects for funding

The venture arm of the cryptocurrency exchange Binance has unveiled 12 startups that will participate in the sixth season of the incubation program.

We’re excited to welcome the Season 6 Incubation Program cohort?

?Infra — @vistaralabs @uxuycom
?DeFi — @bboexchange @derivio_xyz @ethena_labs @shogunfi
?AI-Powered DApps — @myshell_ai @nfprompt @qnaweb3
?GameFi/SocialFi — @cellulalifegame @CryptoCafeio @MetaCeneGame

Get… pic.twitter.com/UWwwLEwUYT

— Binance Labs Fund (@BinanceLabs) September 21, 2023

The company has focused on several areas:

Infrastructure

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• Vistara — a one-click deployment tool for designing and managing scalable infrastructure across ecosystems;

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• UXUY — a multichain platform supporting MPC wallets and account abstraction, with features for decentralized trading;

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DeFi

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• BBOX — a DEX on the L2-network of Linea, which can rapidly create trading pools for a wide range of assets, while offering advanced yield strategies for liquidity providers;

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• Derivio — a decentralized ecosystem of structured derivatives on zkSync, aiming to unlock the potential of DeFi for users, developers and institutions;

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• Ethena — an infrastructure provider that converts ETH into a stablecoin, delivering passive income;

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• Shogun — an order-aggregator and intelligent liquidity-routing aggregator for modular networks, launched in the Cosmos ecosystem;

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Web3 and AI

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• MyShell — an AI-powered Web3-based chatbot platform with its own language models and modular architecture. It enables users to create, share and monetize ‘bots’, each with a unique voice, memory and style of conversation;

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• NFPrompt — a platform with multimodal patented AI models, that allows creating NFT content, voting and earning rewards;

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• QnA3 — a platform for information exchange and a Web3 AI-powered explorer. The service has its own extensive data pool;

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GameFi/SocialFi

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• Cellula — a fully autonomous strategic life-simulation on the Ethereum blockchain;

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• Crypto Cafe — a platform for learning and earning, dedicated to blockchain and crypto topics, aimed at lowering barriers to entry for users;

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• MetaCene — the first MMORPG that uses Web3 technologies and provides easy access for ordinary gamers.

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The new Binance funding season starts on September 25. Those interested in applying can still fill out the form on the website.

Earlier, in July, the venture arm of the world’s largest crypto exchange invested $10 million in the Radiant Capital lending protocol.

Earlier, Binance Labs invested $4 million in the Web3Go startup, focused on data analytics.

In August, the investment platform allocated $2.5 million to the zkPass privacy protocol.

Subsequently, the fund supported the Helio Protocol project with $10 million to expand the liquid staking platform.