Binance Labs Shows Support for Web3 Projects Through Incubator Program
Friday, 8 March 2024, 18:00
Binance Labs Winners Showcase Web3’s Expanding Horizons
Binance Labs has pledged to invest in and mentor seven successful candidates from sixth incubator round.
How Binance Incubator Unfolded
Binance launched Incubation Season 6 in September last year. A successful pitch would see these endeavors receive backing from the Binance investment team.
- Twelve organizations participated in the round, including DeFi protocols and innovators combining AI and blockchain.
- Following the incubation period, Binance Labs aims to support new projects with a long-term plan.
- At Binance Labs, the goal is to back serious early-stage founders across all chains and ecosystems for continued growth and contribution to the Web3 ecosystem.
How Investments Have Fared
Some projects funded by Binance, like the Ethena Protocol, have shown significant value locked. However, challenges remain, such as the incident of insider trading affecting tokens. Binance aims to strengthen management and security measures to address such issues.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.