Binance Labs, the cryptocurrency exchange’s venture capital arm, has made its first investment in the decentralized science (DeSci) space by investing in BIO Protocol, an accelerator that aims to transform the financing and commercialization of health sciences.

BIO Protocol supports a network of Biotechnology Decentralized Autonomous Organizations (BioDAOs) targeting traditional funding gaps such as rare disease and longevity research. With this investment, Binance Labs aims to expand the network by providing seed funding for new projects and strengthen the network that provides community and tokenomics support.

These developments come as part of Binance Labs’ strategy to diversify its portfolio, which has over 250 projects in areas such as decentralized finance, gaming, and artificial intelligence. Share your thoughts in the comments.