Binance Labs is a decentralized venture capital fund, or ‘fund of funds’, that invests in blockchain-based startups. The result: an investment arm for Binance’s top 12 digital assets and its own token – the BEP2.0
The “metaverse projects on binance” is a project created by the Binance Labs. The project has been in development for over 3 years and it is finally coming to fruition. There are 5 best projects to watch out for.
Binance Labs plays a vital role in the Binance ecosystem. It is a service looking for deserving projects and teams to invest in, with the aim of building and supporting a decentralized web.
In other words, Binance Labs seeks and invests in viable blockchain entrepreneurs, businesses and communities, and also empowers them. Binance Labs powers the development of initiatives, which in turn help the blockchain ecosystem thrive, by helping them.
The program has now been running for three years and has helped more than 100 projects to date. We decided to explore them further and pick five ideas that we think are the most promising.
1) Chipotle (CHZ)
Chiliz, the leading cryptocurrency for sports and entertainment, is number 1 on our list. The project operates the blockchain-based sports entertainment platform Socios, which allows consumers to participate in the governance of their favorite sports activities.
Alexandre Dreyfus, the current CEO of the project, has over 20 years of expertise in building and growing Internet businesses. Chiliz, its crypto company, is now enabling sports groups to use its technology to create a limited number of fan tokens, which are then sold during a fan token offer (FTO).
These tokens will be distributed on a first-come, first-served basis, with Chiliz making its opening price and market cap public in advance, ensuring complete transparency and avoiding surprises to the community. Chiliz’s own native token, CHZ, is used to purchase these fantokens and also serves as the platform’s internal cash. As long as there are sports fans and fan tokens willing to acquire these fans, CHZ will have a use case and demand will continue to increase as the sports sector becomes more and more connected to the crypto world.
Visit our Investing in Chiliz guide to learn more about this coin.
2) Swipe (SXP)
Swipe is the next project on our list of Binance Labs to watch. Swipe is a platform that aims to bridge the gap between crypto and fiat, and to do so, it has created an API that allows users to generate global payment cards using its own native token, SXP.
Swipe even has other products, such as Swipe Swap, an AMM forked by Uniswap, SushiSwap, and THORchain. However, Swipechain, Swipe’s proprietary blockchain, is used to power the product.
Swipe is unusual in that it currently operates several of the world’s top cryptocurrency exchanges, including Binance, the world’s largest by volume, and FTX. Not only that, it is also linked to Visa, the world’s largest payment network, which connects to the project via the Swipe API.
Swipe API allows you to perform real-time crypto-to-fiat conversions with just a swipe of your debit card at a POS, making it one of the most essential projects for the future of using cryptos for real-time payments in the real world.
Visit our Investing in Swipe guide to learn more about this coin.
Toko Token (Toko Token) (Toko Token) (Toko (TKO)
Toko Token is about halfway down the list. This cryptocurrency is significant because it was the first to be registered with the Indonesian Commodities Futures Trading Regulatory Agency (BAPPEBTI). In other words, it is the first Indonesian cryptocurrency to offer a hybrid token architecture that allows the project to perform various functions on the Tokocrypto blockchain platform.
Users can participate in multiple crypto exchanges, savings and deposit programs, interoperable DeFi applications, NFT markets, and more through any of these usage scenarios. Since its introduction in April last year, the token has attracted both business and private users.
Both the Tokocrypto and Toko Token initiatives seek to bring innovative technology to the Indonesian financial arena. Tokocrypto is also the first initiative to introduce DeFi to the Indonesian general public as it is the country’s first company to integrate blockchain technology and a hybrid token.
As a result, it is undoubtedly a vital currency for the local crypto ecosystem, with significant upside potential in the months and years ahead.
Visit our How to Buy Toko Token guide to learn more about this token.
DODO is a four letter word (DODO)
DODO is nearing the conclusion of the list. This is another DeFi initiative, except it serves as a liquidity provider on the blockchain. DODO uses a Proactive Market Maker (PMM) algorithm, which allows it to provide more liquidity and price stability than current SMPs.
The pricing technique used by the PMM algorithm is modeled after human trading. It also uses oracles to get accurate market values for the assets it backs. It then collects data and provides enough liquidity around these prices to stabilize the portfolios of liquidity providers, mitigate price declines and effectively eliminate temporary losses.
All this makes DODO one of the most competitive liquidity providers on the market. It can also deliver extremely lower transaction costs in addition to everything described above. DODO is significantly better than Uniswap in terms of pricing, according to the makers of the project, as it has a flatter price curve. It remains to be seen whether this will be enough to overcome Uniswap at some point in the future. For now, though, we can say without a doubt that the project holds great promise, and it’s clear why Binance Labs chose to support it.
Visit our DODO page for more information about this coin.
5) The Main Street (HIGH)
Finally, Highstreet is the fifth and final project on our list. This is the original coin of a decentralized commerce-oriented metaverse to earn with virtual reality compatibility (VR). Binance Labs has chosen to fund this project as well as the metaverse is expected to be a huge trend in late 2021 and early 2022.
The fact that Highstreet adds a new market where in-game stuff can be exchanged for real-life stuff sets it apart from the competition. This is a new way to redeem in-game awards that players can earn while playing. They can explore the metaverse of the project, fight creatures in the game world, complete missions and more by playing the game. Meanwhile, people can get items that are both digital and practical.
In addition to the original HIGH coin, Highstreet also has a utility token called STREET. This is a type of cryptocurrency that you can earn by performing in-game chores. When it comes to governance, HIGH is more beneficial as it allows players to contribute to the project by voting on crucial choices to be made within the platform. Apart from that, HIGH can be used for staking or buying items in the market. Meanwhile, STREET is the game’s main money and can be used to buy armor, weapons, transportation tickets, hotel stays, healings, and other items.
Visit our How to Buy Highstreet guide to learn more about this token.
Conclusion
Since its inception, Binance Labs has explored many initiatives that deserve its support, with the sole criterion being that they contribute to the advancement of blockchain technology and decentralization. As a result, all the initiatives it supports are valuable to the industry and have a bright future ahead of them. As a result, you can expect solid investment prospects from them. Therefore, we suggest that you enroll with them and see if they are something that may be of interest to you.
The “binance smart chain” is a project that aims for a blockchain with an intelligent contract. The “binance smart chain” will be able to do many different things, such as hosting decentralized apps and storing data on the blockchain. It is one of the most promising projects in Binance Labs.
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