Web3, Venture Capital Investments: Binance Labs Invests In Five Incubation Projects
Summary
Binance Labs, the venture capital and incubation arm of Binance, which has been sued by US regulatory authorities and faces a wide range of regulatory/operational challenges, has made an investment in the five best-performing projects of Season 5 of its Incubation Program.More than 900 projects applied for participation this season, with less than 2% of them being admitted into the program.The curriculum was tailored to meet founder needs and enhanced with exclusive ecosystem resources and fireside chats with market leaders.Throughout the incubation process, the Binance Labs team offered 1:1 coaching to help incubation projects build viable products and conducted in-depth assessments to form a final investment decision.The Season 5 cohort had the opportunity to make their pitches to an audience of industry leaders and investors on Build The Block, the first-ever metaverse pitching competition where five exceptional projects received funding from Binance Labs: Bracket Labs, a project that builds leveraged structured products on-chain with simple interfaces and innovative, adaptive pricing to vastly improve usability. Bracket Labs has launched BracketX.fi, a platform that helps traders quickly take advantage of volatility in both sideways and trending market conditions. DappOS, a project focused on building an operating protocol to lower the barriers to entry to Web3 by creating solutions that improve the usability and accessibility of Web3 applications. Kryptoskatt, a project simplifying Web3 finance for users globally with a comprehensive suite of solutions that includes accounting, portfolio management, and tax reporting. zkPass, a composable, privacy-preserving decentralized identity verification solution for Web3 based on multi-party computation (MPC) and zero-knowledge proof (ZKP) technologies.