Binance Labs, the investment and incubation division of the world's largest cryptocurrency exchange #Binance , supported more than 25 altcoin projects focused on Web3 in 2023.
Strategy and Main Projects of Binance Labs
While Binance continues to support new cryptocurrency initiatives, Binance Labs published a list of altcoin projects it invested in during 2023. These investments were presented in a blog post by the company.
Operating as Binance's venture capital arm, #BinanceLabs focuses on finding and supporting founders with innovative approaches who are developing projects with the potential to shape the future of Web3. As part of its Web3 investments, Binance Labs concentrated on key projects such as Optimism, LayerZero, Celestia, Aptos, Mysten Labs, Trust Wallet, Neutron, Helio, Radiant, Pendle, and Arkham.
Global Approach and Incubation Programs
Since its founding in 2018, Binance Labs has invested in 250 projects across 25 countries, achieving a 14-fold increase from these investments.
Binance Labs also stated that in 2023 it funded nine major projects participating in the fifth and sixth seasons of their incubation program. These projects include AltLayer, Bracket Labs, dappOS, KiloEx, Kinza Finance, KryptoSkatt, Mind Network, Sleepless AI, and zkPass. This initiative attracted more than 2,000 global startups that applied to Binance Labs' incubation programs in both seasons of 2023.
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