Binance is making its first entry into the metaverse by launching “Build The Block.” The globally renowned Blockchain and cryptocurrency firm, designed Build the Block as a digital series that will enable web3 startups to compete for investments from Binance Labs. Binance is adding to its list of impacts in the Blockchain industry that is not limited to trading cryptocurrencies.
Binance Studio, the Binance in-house Web3 global creative studio for Binance created the project Build The Block in partnership with Lifeform. It is set entirely in the metaverse, using virtual cameras and custom avatars.
One of the difficulties encountered by Web3 startups is little to no funds to effectively penetrate the market and offer their solutions. The Binance Build The Block project, which is in show format, will enable startups to access funds for web3 startups hence giving them a leap into the industry.
Yi He, the co-founder of Binance and head of Binance Labs, expressed that “Build The Block is Binance’s latest innovative experiment — creating the industry’s first metaverse investment competition.” She continued that Binance believes in what metaverse and Blockchain could offer, and will continue on the path of empowering creators.
The competition will feature 12 projects competing for the top spot by impressing a live audience and a panel of judges. The judges include Yi He; Yibo Ling, CBO of Binance; co-founder of Coin Bureau, Guy Turner; Azeem Khan, member of the WEF’s Crypto Sustainability Coalition and partnership lead at Gitcoin.
Also, Robby Yung, CEO of Animoca Brands, will sit with the other mentioned judges. Justin Bratton, the host of Asia’s Got Talent will take the role of hosting the show.
The 12 projects include Mind Network, Kryptoskatt, Sandbags Protocol, Wallet Guard, Ontropy, Hana, PIP, The Harvest, Notebook Labs, zkPass, Bracket Labs, and DappOS.
The web3 startups were selected from over 900 other applicants, and the competition will run in front of a virtual studio audience and a Panel of judges.
Starting on May 12th, the show will air in seven episodes on Binance’s YouTube channel and Binance Live and will continue every Tuesday and Friday. The finale episode will be streamed Friday, June 2.
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