Last week, the venture capital Binance Labs announced a new $500 million investment in projects that can extend the use cases of cryptocurrencies and drive the adoption of Web3 and blockchain technologies. The fund is supported by leading global institutional investors such as DST Global Partners, and Breyer Capital. Other major private equity funds, family offices, and corporations also subscribed to the fund as limited partners.
Changpeng Zhao CZ, Founder and CEO of Binance, stated:
“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.”
Since 2018, Binance Labs has invested in and incubated more than 100 projects. Its portfolio includes industry-leading projects such as 1inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Polygon, Optimism, The Sandbox, and STEPN.
Crypto exchange Huobi Global today launched Ivy Blocks, a DeFi and web3 blockchain ecosystem investment in promising projects to help unlock their growth potentia.
Huobi stated in a press release:
“Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth,” Huobi CFO Lily Zhang said. “Our focus on providing such projects with liquidity investments and incubation services will no doubt contribute toward creating a better, more inclusive DeFi and web3 blockchain ecosystem.”
Huobi confirmed the new investment arm has more than $1 billion in crypto assets under management to invest in WEB3 development, one of the first projects to be supported by Ivy Blocks is Capricorn Finance is AMM decentralized exchange built on Cube.
The latest investments from Binance and Huobi are one of the most positive news in crypto industry and certainly will lead to many innovations and WEB3 development and evolution, which is essential for the crypto market future and for the democratic free internet.