Binance Labs announced its investment in five Web3 projects that participated in Season 5 of its Incubation Program. The projects span various sectors, including infrastructure, security, privacy, and gaming.
Binance Labs is the incubation and investment arm of Binance, the world’s leading cryptocurrency exchange. Binance Labs aims to empower innovative blockchain projects that can shape the future of Web3.
The Incubation Program is a biannual and chain-agnostic initiative that offers an 8-week curriculum tailored to the needs of early-stage Web3 founders.
The program also provides exclusive resources, mentoring, networking, and funding opportunities for selected projects.
The Five Web3 Projects Selected for Investment
Binance Labs revealed that over 900 applications were received for Season 5 of Binance Labs’ Incubation Program. The five selected projects are:
Bracket Labs: A DeFi derivatives platform that enables users to take leveraged positions on crypto assets with fixed payouts and durations.
DappOS: An operating protocol that manages crypto infrastructure for users and also connects them to various Dapps across different platforms.
Kryptoskatt: A Web3 financial application that simplifies accounting, portfolio management, and tax reporting for individuals, organizations, and exchanges.
Mind Network: A privacy-focused tool for storing and computing data on the blockchain, allowing developers to program on protected data.
zkPass: A secure and privacy-preserving identity verification (KYC) solution for Web3 applications using zero-knowledge proofs.
Vision and Outlook on Web3
Binance Labs is bullish on Web3 because it believes that Web3 has the potential to disrupt every industry by improving efficiency, reducing friction, and enabling innovation and inclusion.
Since 2017, Binance Labs has actively supported Web3 projects by investing in over 100 projects across multiple industries, including DeFi, NFTs, gaming, infrastructure, security, and more.
Binance Labs also published a research report in October 2021 titled “Digital Assets Primer: Only the first inning,” where it analyzed the digital asset landscape and provided an investment framework for the emerging asset class.
The report said digital assets are “too large to ignore” and will “transform financial and non-financial infrastructure and markets over the next five to ten years.”
