Binance launches half a billion dollar fund to invest in Web3 and blockchain

Binance wants to support companies operating in blockchain and Web3 through sectors such as decentralized finance, video games, metaverse, NFTs and cryptocurrencies. 500 million dollars were raised in this context.

Binance doesn’t just want to limit itself to cryptocurrencies. The sector giant of Chinese origin has just created a 500 million dollar fund which should make it possible to support companies operating in blockchain and Web3, through sectors such as decentralized finance, video games, metaverses, NFTs and of course cryptocurrencies. This investment vehicle was created with the support of several institutional investors, such as DST Global Partners and Breyer Capital.

This fund should make it possible to support start-ups from incubation to the growth phase. Since 2018, Binance Labs, the venture capital arm of one of the world’s largest cryptocurrency exchange platforms, says it has supported around 100 projects in more than 25 countries, such as The Sandbox, now one of of the most developed metaverses under the impetus of the French duo Arthur Madrid and Sébastien Borget.

Andreessen Horowitz and Blaise Matuidi also create dedicated funds

Binance, which obtained its registration with the Financial Markets Authority (AMF) a few weeks ago to practice in France, is far from the only player to launch a fund to bet on the blockchain and the Web3 . At the start of the year, the famous North American fund Andreessen Horowitz announced that it wanted to raise $4.5 billion to supply a fund exclusively dedicated to start-ups specializing in cryptocurrencies.

In addition, football player Blaise Matuidi, world champion with the Blues in 2018, has created an investment fund to support start-ups in Europe and the United States in sectors such as Web3, cryptocurrencies or video game again. Baptized Origins, the structure plans to inject tickets of between €100,000 and €500,000 per project.

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