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).
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The post Binance Launches Massive $500,000,000 Investment Fund To Boost Crypto and Blockchain Adoption appeared first on The Daily Hodl.
