Binance Labs concludes its sixth incubation season, investing in seven early-stage projects across DeFi, infrastructure, and AI-powered DApps, signaling strong support for innovative Web3 solutions.
Binance Labs, the venture capital and strategic incubator arm of leading cryptocurrency exchange Binance, has officially concluded its sixth season of the incubation program and announced investments in seven promising early-stage blockchain projects. This move underlines Binance Labs’ continued commitment to fostering innovation and long-term development within the blockchain and cryptocurrency ecosystem.
The incubation program, which began in December 2023, is a two-month initiative designed to provide hands-on mentorship and support from the Binance Labs Investment team, along with access to the extensive network and resources of the Binance ecosystem. Of hundreds of applicants, only 3% were accepted into the program, highlighting the competitive and rigorous selection process that prioritizes projects with high potential.
Yi He, co-founder of Binance and head of Binance Labs, commented on the success of the program and the company’s vision, saying: “Binance Labs is committed to supporting serious early-stage founders. Our support includes all chains and ecosystems for projects that demonstrate a genuine commitment to long-term growth across sectors. We eagerly look forward to the continued progress of these projects and their contributions to the Web3 landscape.”
The seventh season of the Binance Labs Incubation Program has been announced, with applications being accepted on a rolling basis. This presents a new opportunity for innovative founders looking to make an impact on the blockchain industry.
The projects incubated in Season 6 reflect a wide range of sectors, including Decentralized Finance (DeFi), infrastructure and AI-powered applications. These projects are:
Derivio: A decentralized structured derivatives ecosystem on zkSync, aiming to improve the DEX utility for users, developers and institutions.
Ethena: A derivative infrastructure provider looking to convert ETH into a yield-bearing, crypto-native stablecoin without relying on traditional banking systems.
Shogun: An intent-driven protocol designed to maximize value extractable by the trader through optimized order flow and chain abstraction.
UXUY: A multi-chain platform that uses MPC and AA wallet technology to lower barriers to entry for decentralized trading.
Cellula: an on-chain autonomous life simulation strategy game that offers composibility and persistence.
NFPrompt: An AI-powered platform for Web3 creators, integrating AI creation, social communities, and commercialization.
QnA3: An AI-powered knowledge sharing and discovery platform tailored for Web3, with its own data lake for seamless access to information.
Binance Labs has a portfolio of more than $10 billion, with investments in 250 projects in more than 25 countries. The venture capital arm highlights its success with an ROI rate of over 14x, demonstrating its significant impact and leadership in blockchain investing.
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