Binance Introduces Metaverse Investment Competition Showcasing Web3 Startups

Binance, the well-known blockchain and cryptocurrency company, is venturing into the metaverse with its latest initiative, “Build The Block.” This digital series, developed by Binance Labs, will allow web3 startups to compete for investments and support from Binance Labs. By launching this project, Binance is expanding its impact beyond just cryptocurrency trading in the blockchain industry.

Binance Studio, in collaboration with Lifeform, developed “Build The Block,” which is entirely based in the metaverse and utilizes virtual cameras and personalized avatars. Web3 startups often face the challenge of limited funds to promote and offer their solutions effectively. However, the “Build The Block” show format will enable startups to access funding and resources, helping them to establish themselves in the industry.

Yi He, Binance co-founder and Binance Labs leader stated that “Build The Block” is Binance’s latest innovative experiment and the industry’s first metaverse investment competition. She emphasized Binance’s belief in the metaverse and blockchain technology’s potential and the company’s commitment to empowering creators.

The Competition

The competition has 12 projects that focus on impressing the judges and a live audience. The judging panel includes Yi He, Yibo Ling, the Chief Business Officer of Binance, Guy Turner, Coin Bureau co-founder, etc.

In addition to the judges mentioned earlier, Robby Yung, the CEO of Animoca Brands, will also be on the panel. Justin Bratton hosted the show.

The competition will feature 12 projects. These projects include Wallet Guard, Mind Network, Sandbags Protocol, Kryptoskatt, DappsOS, PIP, Hana, Notebook Labs, Ontropy, zkPass, The Harvest, and Bracket Labs. These startups selected came from a pool of over 900 applicants. They will compete in front of judges and a virtual studio audience

The competition has seven episodes. Binance’s YouTube channel and Binance Live will show these episodes. It started on May 12th and continues every Tuesday and Friday. The finale episode will stream on Friday, June 2nd.

The featured image is from binance.com