It’s no news that the largest crypto exchange in the world is keen on serving the global market with the best products and one of its major strategies is supporting early crypto projects. To make this happen, Binance Labs was created in 2018 to run Incubation Programs for startups.
Application for the Season 4 Program which will start on May 5, 2022, was opened in January 2022 with over 500 applications made by several teams to be selected.
Binance Labs and Previous Seasons
Binance Labs is the venture capital and incubation arm of Binance launched to empower the decentralized web. This is done by opening opportunities for technical teams that want to build Web3 projects to apply and be chosen according to the criteria set by the team.
The first three seasons – Season One, Season Two, and Season Three – saw the likes of Polygon, Perpetual Protocol, Injective Protocol, SafePal, Cere Network, and Dune Analytics launched. And of course, Season Four is here to continue the vision of the brand.
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Incubation Program Season Four
Application for the fourth season started in Jan 2022 and ended in April 2022. And from the 500 applications received, 14 projects were selected. The selection process of the Incubation Program Season Four sees a more diverse mix of Web3 projects as the entire blockchain ecosystem is evolving to solve new and unique problems.
Here’s a list of the selected projects:
For Infrastructure projects, there are FilSwan (a layer 2 cross-chain project that data, computing, and payment into one ecosystem), and Grindery (a Web3 automation software that helps people and organizations connect dApps for the exchange of data and other services). The other two are NuLink, and Starton.
Under Defi, CODA Ventures, a yield generating protocol built on BNB to help users profit from the best yield projects, and OpenLeverage. It’s a trading and lending tool that is built on Ethereum and BNB Chain and allows traders to long/short any trading pair on DEXs.
AlterVerse, ChapterX, CoralApp, and Gamic Guild made it to the Gaming/Metaverse category while Qwestive and Reveel are the only SocialFi / Creator Economy projects selected. Crypto FinTech choices are Playbux, and Ambrosia, a DeFi tool for fiat-stablecoin saving services.
Coming Soon
Around Q4 2022, Season 5 of the Program will commence as well. Speaking about previous versions, Jasmine, an Investor at Binance Labs, said, “We believe that the Incubation Program was a great growth opportunity for both start-ups and Binance Labs.
“The team is constantly learning to develop the early-stage projects and upgrading the program to offer future projects with more tailored solutions.” Recommendations from well-respected founders and industry leaders are part of the strategy to fast-track the choosing process for the program that has stayed for more than 3 years, across over 5 continents, 25 countries, and supported 170+ projects.
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