{"id":4424,"date":"2022-06-02T09:43:42","date_gmt":"2022-06-02T02:43:42","guid":{"rendered":"https:\/\/test.wikibinance.com\/?p=2686"},"modified":"2022-08-23T10:42:32","modified_gmt":"2022-08-23T03:42:32","slug":"binance-boost-adoption-cryptocurrencies-web3-blockchain","status":"publish","type":"post","link":"https:\/\/wikibinance.com\/en\/news\/binance-boost-adoption-cryptocurrencies-web3-blockchain.html","title":{"rendered":"Binance Labs wants to boost adoption of cryptocurrencies, Web3 and blockchain"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Binance Labs plans to allocate the latest $500 million fund to projects at various stages \u2014 incubation, early- and late-stage growth.\u00a0<\/span><span style=\"font-weight: 400;\"><strong>Binance Labs<\/strong>, the investment arm of cryptocurrency exchange giant Binance, has launched a $500 million fund in partnership with global investors including DST Global Partners and Breyer Capital to drive innovation across the<strong> cryptocurrency market, Web3 and blockchain.<\/strong>\u00a0<\/span><img decoding=\"async\" loading=\"lazy\" width=\"750\" height=\"375\" class=\"wp-image-2693 size-jnews-750x375 aligncenter\" src=\"https:\/\/wikibinance.com\/wp-content\/uploads\/2022\/06\/Binance-Labs-quy-500-USD-anh-trong-bai-min-750x375.jpg\" alt=\"Binance Labs invested $500 million to promote the adoption of cryptocurrencies, Web3 and blockchain.\" srcset=\"https:\/\/wikibinance.com\/wp-content\/uploads\/2022\/06\/Binance-Labs-quy-500-USD-anh-trong-bai-min-750x375.jpg 750w, https:\/\/wikibinance.com\/wp-content\/uploads\/2022\/06\/Binance-Labs-quy-500-USD-anh-trong-bai-min-360x180.jpg 360w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/> <span style=\"font-weight: 400;\">Sharing about accelerating the adoption of the cryptocurrency ecosystem, Changpeng &#8220;CZ&#8221; Zhao, CEO of Binance, revealed the importance of the connection between values, people and the economy:<\/span> <span style=\"font-weight: 400;\">&#8220;<em>The <\/em><\/span><i><span style=\"font-weight: 400;\">goal of the newly closed investment fund is to discover and support projects and founders that have the potential to build and lead <strong>the Web3. on DeFi, NFT, cryptocurrency games, Metaverse<\/strong>,&#8230;<\/span><\/i> <span style=\"font-weight: 400;\">Binance<\/span> <span style=\"font-weight: 400;\">Labs was founded in 2018, and has since invested and incubated more than 100 projects globally with outstanding portfolios such as: 1 inch, Axie Infinity, Dune Analytics, Elrond, Polygon and The Sandbox.<\/span> <span style=\"font-weight: 400;\">The interesting fact is that Binance Labs also invested $3 million in Terra&#8217;s layer-0 blockchain in 2018.\u00a0<\/span><span style=\"font-weight: 400;\">Speaking to Cointelegraph, Binance Labs&#8217; chief investment and acquisitions executive Ken Li said there are 14 projects that are participating in Part 4 of the Incubator Program and they will receive the first funding from the new fund.<\/span> <span style=\"font-weight: 400;\">Eligible startups include:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Grindery, NuLink Network, FilSwan and Starton from the infrastructure sector.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">CODA and OpenLeverage from the DeFi field.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">CoralApp, AlterVerse Inc, ChapterX and Gamic Guild from the gaming sector.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Metaverse, Qwestive and Reveel from the socialfi sector.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Playbux (MyCashBack) and Ambrosia Finance from the cryptocurrency fintech sector.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In addition, a number of former Binance executives have led funding rounds aimed at supporting multi-strategy blockchain investment fund Old Fashion Research (OFR) to focus on investing in more than 50 blockchain projects in just one year.<\/span> <span style=\"font-weight: 400;\">In the recently updated Cointelegraph information, the fund was founded by Ling Zhang, former vice president of investment mergers and acquisitions at Binance, and Wayne Fu, binance&#8217;s former director of corporate development.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">&gt;&gt;&gt;<\/span><span style=\"font-weight: 400;\">In addition: <\/span><a href=\"https:\/\/wikibinance.com\/tin-tuc\/binance-ra-mat-chuyen-tham-quan-nang-cao-nhan-thuc-ve-tien-dien-tu-o-chau-phi-khi-viec-chap-thuan-tang-len.html\"><span style=\"font-weight: 400;\">Binance launches a cryptocurrency awareness tour in Africa as approvals increase. <\/span><\/a><\/em><\/p>\n\n\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\"\n    data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;4424&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n    \n<div class=\"kksr-stars\">\n    \n<div class=\"kksr-stars-inactive\">\n            <div class=\"kksr-star\" data-star=\"1\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; 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