BNB Chain, in collaboration with Binance Labs and CMC Labs, hosts the Most Valuable Builder (MVB) program, which is designed to identify and select projects for potential investment by Binance Labs.
Season 8 attracted 500 applicants, out of which only 35 projects made it to the finals.
Binance Labs Will Choose From These 35 Potential Candidates to Invest In
BNB Chain has categorized these 35 promising projects into three sectors: Application layer, DeFi, and Infrastructure. A standout feature of MVB Season 8 is the widespread application of artificial intelligence (AI) across numerous projects. Additionally, there is a noticeable presence of projects related to meme coins, real world assets (RWA), and Telegram apps.
Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
The selected projects receive comprehensive support, including mentorship, funding opportunities, technical assistance, and exposure to a broad network of industry experts and potential partners. Additionally, the teams behind these projects will participate in a four-week training program. Upon completion, Binance Labs will assess their presentations and select projects to invest in.
“This season’s expanded curriculum, coupled with the potential for Binance Labs investment, ensures that founders are equipped with the tools and insights they need to succeed. We’re thrilled to see how these promising projects will evolve and continue driving the growth of the Web3 ecosystem on BNB Chain,” — Gala Wen, Director of Ecosystem Development at BNB Chain, said.
In MVB Season 7, 700 applicants participated, but only 13 were accepted, and just 5 received investment from Binance Labs. In contrast, Season 8 saw fewer applicants with 500 submissions.
Recently, Alex Odagiu, Investment Director at Binance Labs, emphasized the potential of seriously developed projects in an interview with BeInCrypto, noting the crowded market filled with numerous tokens.
“Projects that prioritize strong technological innovation, demonstrate meaningful product-market fit, and have sustainable revenue models will continue to attract interest despite the crowded market,” Odagiu stated.
Read more: How To Fund Innovation: A Guide to Web3 Grants
Additionally, data from Cryptorank reveals that Binance Labs has decided to invest in 47 rounds so far this year. Key sectors in Binance Labs’ portfolio include AI (22.22%), restaking (16.7%), and Layer-1 (11.1%).
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Nhat Hoang
https://beincrypto.com/bnb-chain-unveils-potential-projects/
2024-10-31 11:53:49
