Binance Labs will fund participants in the BNB Chain accelerator

What’s new? Binance Labs, the venture capital arm of the world’s largest centralized crypto exchange (CEX) Binance, will fund four projects that participated in the seventh season of the Most Valuable Builder (MVB) accelerator program from the BNB Chain blockchain team. This time, over 700 teams applied to participate, of which less than 2% were accepted.

Press release

What else is known? The MVB program aims to support and accelerate the growth of innovative Web 3.0 projects in the BNB Chain ecosystem developed by Binance. It is a joint effort between the BNB Chain, Binance Labs, and CMC Labs teams.

Participants are provided with a training program specifically designed for early-stage projects, individual mentoring from experts, and access to the BNB Incubation Alliance cloud service for decentralized applications (DApps). It offers support in infrastructure, security, treasury management, marketing, and business development. Participants can receive up to $300 000 worth of services from the service.

13 projects took part in the accelerator’s seventh season, with the four top performers receiving investment from Binance Labs to increase “their potential and impact.”

The first one was Aggregata, a feature-rich AI-focused platform. It offers an extension called GPT-to-Earn for the Google Chrome browser on PCs, with the help of which users will be able to monetize their conversations with an AI bot. Thus, conversations will be converted into datasets for training AI models that will be offered to developers — for which users will be rewarded in cryptocurrencies.

The Aggregata team is also working on a decentralized and censorship-free open data marketplace and a decentralized data storage platform whose ownership rights will be registered using an immutable blockchain, ensuring their protection and privacy.

With the help of the platform’s solutions, any developers will be able to introduce AI services into their products and services in a few clicks. And all Aggregata participants who supply the system with new data will be able to receive rewards.

Binance will also invest in Opinion Labs, a company previously backed by the venture capital arm of game studio Animoca Brands. It offers a decentralized prediction marketplace, a dynamic opinion marketplace and a pricing oracle. According to the official website, the O.LAB developer ecosystem provides transparent and objective information to decision makers around the world.

Sidekick Labs, a company focused on developing products for mass adoption of Web 3.0 technology, will also receive funding. The company sees gaming and social networking as the segment that will initially form its core user base, allowing it to expand into other markets.

In the first phase, Sidekick allows users to team up with professional players, well-known content creators, and other companions called Kickers to play, socialize, and learn. This is charged in cryptocurrency and can be done in one click, which is convenient for those new to the industry. Until the mentoring service from Kickers is finalized, the funds will be held in a deposit account based on a smart contract.

Finally, the multichain aggregator of decentralized exchanges (DEXs) Vooi received development funds from Binance. It supports both Ethereum Virtual Machine (EVM)-based networks and non-EVM blockchains.

Previously, the Vooi team also participated in the accelerator from ConsenSys, which develops software for the Ethereum blockchain and MetaMask, one of the leading non-custodial multichain wallets. Vooi supports exchanges such as Orderly, KiloEx, SynFutures, and Hyperliquid. Its trading volume has already exceeded $3,5 billion.