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Binance Labs Concludes Incubation Season 6; Invests in Cellula, Derivio, Ethena, NFPrompt, QnA3, Shogun, UXUY

Binance Labs Invests in Seven Early-Stage Projects Building Across DeFi, Infrastructure & AI-Powered DApps

Binance Labs, the venture capital and incubation arm of Binance, has invested in seven top-performing projects from the sixth season of its Incubation program. The 2-month incubator which commenced in December 2023, is designed to empower early-stage founders offering 1:1 mentorship from the Binance Labs Investment team, in addition to access to resources and experts across the Binance ecosystem. Hundreds of projects applied for participation in season 6, with 3% being admitted to the program.

Yi He, Co-Founder of Binance and Head of Binance Labs, said: “At Binance Labs, our goal is to support and back serious early-stage founders. Our support extends across all chains and ecosystems for projects that are committed to long-term development across various sectors. We look forward to seeing each project’s continued growth and contribution to the Web3 ecosystem.”

At Binance Labs, we have a strong network of Incubation alumni who we continue to support with meetup events and virtual mixers. During Incubation Season 6 we hosted the first Incubation Showcase during Binance Blockchain Week 2023, allowing projects from our Incubation cohorts the opportunity to present their pitches to investors and gain exposure with attendees.

Incubation Season 6 projects invested by Binance Labs (ranked in alphabetical order by each sector)

DeFi

  • Derivio – a decentralized structured derivatives ecosystem on zkSync that aims to unlock the full potential of DEXs for users, builders, and institutions.

  • Ethena is a derivative infrastructure provider to transform ETH into the first crypto-native yield-bearing stablecoin with no reliance on banking systems.

  • Shogun – is an intent-centric protocol that aims to maximize trader extractable value (TEV) via optimized orderflow and complete chain abstraction.

Infrastructure

  • UXUY – a multi-chain platform based on MPC and AA wallet technology with intent-centric features, minimizing the entry barriers to decentralized trading.

Application layer:

  • Cellulais a fully on-chain autonomous life simulation strategy game offering composability and persistence.

  • NFPrompt is an AI-driven UGC platform designed for the new generation of Web3 creators, including all emerging standards such as NFT, inscription and 404. An all-in-one platform powering AI-creation, social communities, and commercialization.

  • QnA3– an AI-powered Web3 knowledge sharing and search platform. With its own proprietary data lake, QnA3 empowers users to effortlessly access Web3 information and knowledge with a single click.

Binance Labs Incubation Season 7 Coming Soon!

The announcement of these investments officially concludes season 6 of the Binance Labs Incubation Program. Stay tuned for the upcoming launch of Binance Labs Incubation Program Season 7! We’re currently looking for forward-thinking founders of early-stage projects to join the program. The application process for Season 7 will be open on a rolling basis, so be sure to follow our X account and check out our blog post to stay updated!

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About Binance Labs

As the venture capital arm and accelerator of Binance, Binance Labs has now grown to be worth over $10 billion. Its portfolio covers 250 projects from over 25 countries across six continents and has a return on investment rate of over 14X. Fifty of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X.

Disclaimer: The information provided in this article is intended for informational purposes only and does not constitute investment advice, endorsement, analysis, or recommendations with respect to any financial instruments, investments, or issuers. This article may contain forward-looking statements which are by nature subject to risks and uncertainties. Investment in cryptocurrency and DeFi projects involves substantial risk, including the risk of complete loss. This article does not take into account the investment objectives, financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decisions.

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