12 Web3 project teams selected
Binance Lab, the venture capital division of major crypto asset (virtual currency) exchange Binance, announced on the 18th the 12 project teams that were shortlisted for the startup development program “Most Valuable Builder (MVB) Program 6”.
We’re excited to welcome MVB Season 6’s cohort 🎉
Thank you to the 1500+ project teams who applied from all over the world!
Get to know the MVB project team 👇https://t.co/dsTTa4g1d0
—Binance Labs Fund (@BinanceLabs) April 18, 2023
The NVB program will help teams build projects on the BNB chain. This season, which was the sixth time, received more than 1,500 applications, mainly from North America, Europe, and the Asia-Pacific region, and 12 teams, or less than 1%, were selected as finalists.
Selected teams participate in an 11-week curriculum to help Web3 founders. Binance Labs will decide which projects to invest in based on their performance there.
“To identify and support founders who have the necessary skills, values and long-term perspective to innovate technical solutions and contribute to the Web3 ecosystem,” said Binance co-founder Yi He. commented on the mission of Binance Labs.
Victor Genin, solution engineer at BNB Chain, explains:
This season’s MVB is focused on enabling developers and entrepreneurs to build a decentralized, highly secure, and interoperable next-generation internet.
The program brought together a diverse team of people contributing to the cutting edge advancements of Web3. There are various areas such as DeFi (decentralized finance), infrastructure, GameFi, SocialFi, Metaverse, NFT (non-fungible token), and sustainable technology.
What is Web3
The current centralized web is defined as Web2, and refers to an attempt to realize a non-centralized network using blockchain. A typical feature is the use case of decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.
Projects selected as finalists
Among the projects selected as finalists are:
- Security-focused DeFi lending protocol “Kinza”
- “Hinkal Protocol” which provides KYC (Know Your Customer) to protect your privacy
- DeFi platform “EthosX” that provides end-to-end financial derivatives
- Sparkle.xyz, an astrology lifestyle app that offers tradable NFTs, games and social features
- Interactive conversational game “HIM” that combines tokens and AI conversations
- Slise, an advertising platform that provides revenue streams for dApps targeting Web3 users
- “AltLayer” to provide unique multi-chain rollup for various projects
At the end of the 11-week program, the top projects will be selected. Binance Labs partners and several other venture capital firms will also be invited to consider potential investments in the participating teams.
What is rollup
A solution that addresses scalability issues such as network congestion by processing some transactions off-chain (outside the blockchain).