Binance Labs Announces First Batch Of Sixth-Season (S6) Incubation Projects
Latest News News

Binance Labs Announces First Batch Of Sixth-Season (S6) Incubation Projects

According to a post on the X account on Feb. 15, Binance Labs has announced the first batch of its sixth season, S6, incubation projects.

Binance added that it would invest in three projects during the sixth season. The details of the latest initiative and the investment amount have not been revealed, but Binance Labs did reveal the entities of those who received the funding.

Ethena Labs is known to be providing the derivatives infrastructure to transform Ethereum (ETH) into the first cryptocurrency stablecoin to generate revenue independent of banking systems.

See Also: Solana (SOL) Has Overtaken Binance Coin (BNB) By Market Cap

NFPromt is an AI-powered user-generated content platform designed for the next generation of Web3 creators, including all new standards such as non-fungible tokens (NFT), Caption, and 404—an all-in-one platform enabling AI creation, social communities, and commercialization.

The Shogun project is an intent-centric protocol that aims to maximize trader extractable value (TEV) via optimized order flow and complete chain abstraction.

In January, Binance Labs summed up its work in 2023. The fund’s investment program aimed at supporting tools based on zero-knowledge proof methods, Web3 games, and various products in decentralized finance (defi).

The report states that Binance Labs’ portfolio has a 14x return on investment, covering 250 projects in 25 countries. 

The team has supported several well-known projects, including Optimism, LayerZero, Celestia, Aptos, Mysten Labs, and Trust Wallet. 

See Also: Binance In Talks With The Indian Government To Resume Operation In India

More than 50 companies have been incubated by Binance Labs, including Polygon, SafePal and Injective Labs.

#Binance #WRITE2EARN

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.