The world’s largest crypto exchange by volume is launching a new $500 million investment fund in order to boost the adoption of crypto assets and blockchain technology.
According to a company blog post, the fund aims to invest in projects that expand the use cases of digital assets as well as further the adoption and innovation of Web 3.0 technologies.
The fund will make investments in virtual assets that are in three different stages of their existence: incubation, early-stage venture, and late-stage growth.
“With incubation, Binance Labs aims to connect projects with Binance’s network of resources, experts, and mentors to help them drive successful product development and growth. Binance Labs runs its Incubation Program regularly and is currently supporting its fourth cohort.
Early-stage venture investments include token and equity investments across all sectors of cryptocurrency and Web 3.0, including infrastructure, DeFi [decentralized finance], NFTs [non-fungible tokens], gaming, Metaverse, social, and crypto adoption platforms.
Late-state growth investments target more mature companies looking to scale or bridge into the Web 3.0 ecosystem with the Binane ecosystem as a solid strategic partner.”
As stated by Binance CEO Changpeng Zhao,
“In a Web3 environment, the connection between values, people, and economies is essential, and if these three elements come together to build an ecosystem, that will accelerate the mass adoption of the blockchain technology and crypto.
The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web3 across DeFi, NFTs, gaming, Metaverse, social, and more.”
Binance has invested in over 100 crypto projects since 2018, including metaverse projects Axie Infinity (AXS) and The Sandbox (SAND), Ethereum scaling solution Polygon (MATIC), and move-to-earn application STEPN (GMT).Check Price Action
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Invectus