Injective

<p class="is-style-lead">Binance Labs invested in the Ethena Labs, NFPromt, and Shogun projects as part of the incubator.</p> 
<p>According to a post on the X account on Feb. 15, Binance invested in three projects during <a href="https://crypto.news/binance-labs-selects-teams-for-sixth-season-incubation-program/" target="_blank" rel="noreferrer noopener">the sixth season</a>. The details of the latest initiative nor the investment amount have been revealed, but Binance Labs did reveal the entities of those who received funding as:</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/BinanceLabs/status/1758026526065557557 
 </div>
</figure> 
<p>Ethena Labs is known to be providing the derivatives infrastructure to transform Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) into the first cryptocurrency stablecoin to generate revenue independent of banking systems.</p> 
<p>NFPromt is an AI-powered user-generated content platform designed for the next generation of <a href="https://crypto.news/tag/Web3/" target="_blank" rel="noreferrer noopener">Web3</a> creators, including all new standards such as non-fungible tokens (<a href="https://crypto.news/tag/NFT/" target="_blank" rel="noreferrer noopener">NFT</a>), Caption, and 404—an all-in-one platform enabling AI creation, social communities, and commercialization.</p> 
<p>The Shogun project is an intent-centric protocol that aims to maximize trader extractable value (TEV) via optimized order flow and complete chain abstraction.</p> 
<p>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 (<a href="https://crypto.news/tag/defi/" target="_blank" rel="noreferrer noopener">defi</a>).</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Let's take a look back at our year in 2023! 🚀<br><br>We remained committed supporting early-stage founders with bold ideas, and resilient projects that are shaping the future of Web3.<br><br>Check out our year in investments👇<a href="https://t.co/xyyhL7iYjO" target="_blank">https://t.co/xyyhL7iYjO</a> <a href="https://t.co/NN3o8Ez43y" target="_blank">pic.twitter.com/NN3o8Ez43y</a></p>— Binance Labs Fund (@BinanceLabs) <a href="https://twitter.com/BinanceLabs/status/1747592209443238197?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>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 <a href="https://crypto.news/tag/optimism/" target="_blank" rel="noreferrer noopener">Optimism</a>, <a href="https://crypto.news/tag/LayerZero/" target="_blank" rel="noreferrer noopener">LayerZero</a>, Celestia, Aptos, Mysten Labs, and Trust Wallet. More than 50 companies have been incubated by Binance Labs, including Polygon, SafePal and Injective Labs.</p> 
<p> Read more: <a href="https://crypto.news/binance-labs-launches-collabs-for-founders-and-builders/"> Binance Labs launches ColLabs for founders and builders </a> </p>

Binance Labs announces first batch of sixth-season incubation projects

crypto.news

Other articles published on Feb 15, 2024

Bitcoin: Michael Saylor has big visions for the flagship cryptocurrency

EU Financial Services Committee to tackle crypto in April meeting

CKB surges 64% in 24 hours, traders bet on price drop

XRP Gather Steam; Incoming Rally or a Dead Cat Bounce? TIA and NuggetRush (NUGX) Capture Investor...

Stacks (STX) Stuns: Price Soars Over 60% In Epic Recovery As TVL Explodes

Crypto Analysts’ Prediction Roundup: Synthetix, Bonk, and Everlodge (ELDG) to Surge

Join our free newsletter for daily crypto updates!