Binance Labs invests $200 to Million Oasis Ecosystem Fund

NewsJanuary 12, 2022 logo – Get the 30$ trading bonus for FREE (No deposit required). Click here

The Venture Capital firm has dropped its weight behind several blockchain projects focusing on Web3, decentralized finance, and cross-chain capabilities.

Binance Labs invests $200 to Million Oasis Ecosystem Fund.

Binance Labs invests $200 to Million Oasis Ecosystem Fund

Binance Labs is the venture capital arm of the Binance cryptocurrency exchange system. It invested in the Oasis Foundation’s ecosystem development fund on Tuesday. Investment amount up to 200 million dollars. This news has demonstrated the great interest of major investors in emerging projects on alternative blockchain networks.

After the investment, Binance Labs joins other significant companies supporting the Oasis Network. It is an alternative intelligent contract platform that aims to compete with Ethereum. In November, Cointelegraph reported that the Oasis Foundation had initially launched a $160 million development fund to attract promising startups to join its blockchain. Other notable VC firms supporting the ecosystem development fund include Hashed, Jump Capital, Dragonfly Cash, and Draper Dragon.

Binance Labs Foundation Head – Bill Chin advertised the scalability and privacy features of the Oasis Network. There is also the possibility of fostering Worldwide-web3 development. The above reasons are some of the reasons for Binance Lab to participate in this project.

Binance Labs has invested in several blockchain projects over the past 12 months. As Cointelegraph reported, the VC firm led a $60 million investment round in cross-chain protocol Multichain in December. Binance Labs announced that it had participated in Woo Network’s $12 million Sequence A funding round a few weeks later.

OpenSea Raises $300 Million for Encrypted Digital Market

Binance Labs invests $200 to Million Oasis Ecosystem Fund

In just the first ten months of 2021, investment companies have poured more than 17 billion dollars in capital into crypto projects. This created enormous explosions for the blockchain industry in 2021. Investment activities in this industry are still happening steadily, even though many cryptocurrencies, including cryptocurrencies. Significant Death has had a year full of ups and downs.

Just enter the beginning of 2022, but the cryptocurrency market has had quite large fluctuations. Bitcoin briefly dropped below $40,000, and many cryptocurrencies are also volatile.

Read more: Binance

Inline Feedbacks
View all comments