binance labs – RE3W.IO

NCSoft Invested $15M In Mysten Labs as Part of A Previously Announced $300M Funding Round

admin — Thu, 10 Nov 2022 01:47:35 +0000

South Korean gaming giant NCSoft has invested $15 million in Mysten Labs as part of a previously announced $300 million funding round. The money will apparently go toward fueling Mysten Labs’ plan to develop the Sui Layer 1 blockchain to serve as infrastructure for web3 games and other projects.

Mysten Labs announced the raise of $300 million dollars just a month ago. This valued the business at more than $2 billion. FTX Ventures led the Series B round. Other participants included a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital and O’Leary Ventures.

Mysten Labs is a California-based web3 infrastructure company that launched the decentralized blockchain platform Sui in March of this year, 2022. Evan Cheng, currently Mysten Labs CEO, said they are hoping to “build a better blockchain” to improve scalability. Evan Cheng has spent the last 16 years at tech companies such as Apple and Facebook.

Sui’s use cases include facilitating airdrops to millions of people in a single, low-cost transaction; creator-owned decentralized social media networks; and developing blockchain gaming interactions such as equipment crafting, character leveling, and battle records stored on-chain. A token, $SUI, is also planned, which will be used to participate in the proof-of-stake network after the mainnet launch, at an unknown future date.

Alterverse Recently Announced Funding From Binance Labs, Polygon Ventures and Ankr To Launch Sky City

admin — Wed, 05 Oct 2022 19:56:57 +0000

After successfully completing the Binance Labs Incubation Program, AlterVerse has received funding from Binance Labs, Polygon Ventures, Ankr, Baselayer Capital, and EnjinStarter. Funding from their ongoing private sale will be used for the continued growth of the entire AlterVerse ecosystem and roadmap development.

The AlterVerse is described as an immersive metaverse gaming experience with interconnected worlds, communities, and games. Built using Unreal Engine 5, AlterVerse features realistic graphics, incredible design elements, extensive 3D environments, and streamlined gameplay.

With SkyCity launching first, the AlterVerse roadmap consists of 4 core phases:

– Sky City: The main social hub of the AlterVerse where players can buy land, build, shop, socialize, gather resources, craft NFTs, trade items, and play and earn.

– Outpost: First-person shooter action game

– Rekt: Hardcore survival game

– City Servers: Decentralized Metaverse platform with “Metaservers” that can be owned, operated, and customized

$ACE is the native token of AlterVerse, used for in-game transactions, currency, and player rewards. $ACE will be launched on BNB smart chain, along with land and NFT skins. They are also apparently building an NFT marketplace, which will integrate with BNB Smart Chain, Polygon, Efinity, and other prominent chains.

Tatsumeeko Has Raised $7.5 Million In Seed Funding For Its Upcoming Web3 Fantasy MMORPG

admin — Fri, 10 Jun 2022 16:12:43 +0000

Upcoming fantasy MMORPG blockchain game, Tatsumeeko, has raised $7.5 million in seed funding. The round was co-led by DeFiance Capital, Delphi Ventures, and Bitkraft Ventures. Other investors included Binance Labs, Animoca Brands, Dialectic, GuildFi, and more.

The Singapore-based company is using non-fungible tokens (NFTs), which authenticate unique digital items, to enable a new business model for the game. The new funds will allow Tatsumeeko to continue developing its MMORPG-lite experience for web3 gamers. Rumors are it will be released on the Ethereum and Solana blockchains this summer.

Binance Labs Announces New Web3 Fund

admin — Sun, 05 Jun 2022 14:37:02 +0000

Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has raised $500 million to establish a fund that will invest in web3 and blockchain companies. DST Global Partners, Breyer Capital, Whampoa Group and other private equity funds participated in the raise.

The fund will make investments across companies in three stages ranging from incubation to early-stage venture and late-stage growth. Binance Labs’ most recent strategic investment was with STEPN by Find Satoshi Lab, a web3 move-and-earn app.

Binance CEO Changpeng Zhao stated: “The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web 3 across DeFi, NFTs, gaming, Metaverse, social, and more.”