Binance Labs Unreleased Token Potential Projects Overview

Source: Biteye

According to overseas KOL Ardizor, among the active VCs in the industry, Binance Labs tops the list of "Which VCs Prefer Airdrops" with an investment target airdrop rate of 15.4%, far exceeding a16z, Coinbase, and Multicoin.

In the cryptocurrency and blockchain industry, investment and incubation are key factors driving innovation and development, and Binance Labs can be considered one of the important participants in this field.

To find the gems in Binance's investment landscape, this article will delve into various aspects of Binance Labs, including its introduction, advantages, investment layout, and then highlight projects in Binance's investment landscape that have not yet issued tokens but have certain airdrop expectations.

Overview of Binance Labs

Binance Labs was established in April 2018 as the venture capital arm of Binance. Its main task is to identify, invest in, and empower promising blockchain entrepreneurs, startups, and communities. In addition to direct investments, Binance Labs also invests through an 8-10 week incubation program (MVB), providing advisory support, funding, and resources.

The Binance incubation program has held six seasons, and in the latest season, Binance invested in four of the best-performing projects from Season 6 MVB: AltLayer, KiloEx, Kinza, and Sleepless AI, covering DeFi, infrastructure, and Web3 gaming.

In April this year, Binance Labs stated in an interview with The Block that their investment theoretical return rate has exceeded 10 times, which is closely related to Binance Labs' advantages and project selection theory.

Advantages of Binance Labs:

• Global influence: Binance Labs' investment landscape covers 25 countries and has invested in over 200 projects.

• Financial support: According to Binance's 2022 year-end report, Binance Labs will provide at least $1-2B in funding for the crypto industry.

• Value creation services: In addition to financial support, it also offers general consulting, operational support, and technical/product co-development.

• Abundant resources: As part of the world's largest cryptocurrency trading platform, Binance Labs has rich resources and a vast network, which are key factors for its successful incubation and investment in projects.

Binance Labs considers the following five attributes when selecting projects:

• The first attribute is product innovation. Are you building something new that users will benefit from?

• The second attribute is a sustainable business and token model. Is your business model profitable in the long run, and are your token incentives built in the right way?

• The third attribute is traction. What is the current number of users for the project? What is the revenue generated? If you are in the pre-launch phase, we would like to understand your actual expectations.

• The fourth attribute is the quality and durability of the team. If needed, can you and your co-founders commit full-time to this project?

• The last attribute is technology. Is the technology you are building feasible and realistic? We will look at what you have built and what can be built based on your project roadmap.

From the above, it can be seen that Binance Labs' investment philosophy can be summarized into five attributes: product innovation, sustainable business and token model, adoption rate, team durability, and technological feasibility.

Key Investment Tracks of Binance Labs

Binance Labs has a very broad investment layout, covering most tracks related to Web3, including public chains, protocols, infrastructure, NFTs, blockchain games, metaverse, DeFi, and CeFi. According to the 2022 year-end report, Binance Labs will provide at least $1-2B in funding for the recovery plan of the crypto industry.

Binance Labs particularly values infrastructure, on-chain applications, data analysis, and security. These areas are not only the core of the cryptocurrency industry's development but also the investment directions prioritized by Binance Labs. From the following chart, we can see the key investment track layout of Binance:

• Infrastructure: Accounts for the largest proportion of Binance Labs' investment landscape, reaching 39.4%, serving as the cornerstone of the blockchain and cryptocurrency industry.

• DeFi and gaming: Account for 19.4% and 18.2% of the investment proportion, respectively. These two fields not only have huge market potential but are also at the forefront of industry innovation.

• Web3-related tracks: Including social entertainment, tools, NFTs, metaverse, etc., these areas are considered the next growth points for the cryptocurrency industry.

Inventory of Unlaunched Projects

We will review noteworthy projects in Binance's investment landscape that have not yet launched tokens, categorized into four major sectors: infrastructure, Web3, DeFi, and gaming.

(Risk Warning: The following projects are only unlaunched and have received investments; the specific fundamentals of the projects cannot be guaranteed. The risks in crypto projects are high, and users can use the following list as a reference for further DYOR.)

Infrastructure:

1. Polyhedra: Financing $25M

Polyhedra is a full-stack infrastructure startup based on ZKP technology, focusing on interoperability, scalability, and privacy. It generates SNARK proofs more quickly through a distributed approach and then develops zk full-stack projects (zkBridge, zk-DID, zk-NFT), with the zkBridge testnet already launched and an airdrop expected.

2. AltLayer

AltLayer is an open and decentralized protocol for developers to launch application-specific Rollups.

The protocol provides a no-code Rollups-as-a-Service dashboard built on its core network Beacon Layer, allowing for rapid customization of Rollups with fraud/zk proofs, obtaining security from underlying L1/L2. It has received funding from Binance's sixth season MVB.

3. DappOS

DappOS is an intent-centric operating protocol designed to make dApps as user-friendly as mobile applications.

As a unified operating protocol for Web3, it builds a layer between users and public chains, cross-chain bridges, and other crypto infrastructures, allowing users to interact only with dappOS to complete verification and execution in the decentralized world, making it easy for anyone to access decentralized applications without complex processes or deep crypto knowledge.

4. Mind Network: Financing $2.5M

Mind Network is a composable data protocol that allows developers to interoperate data across platforms. The vision of Mind Network is to become the first decentralized knowledge graph connecting everyone and products on Web3. The roadmap for Mind Network indicates that it will launch its token in Q3 2023.

5. LayerZero: Financing $315M

LayerZero is a cross-chain interoperability protocol focused on data messaging between chains. LayerZero's data transmission method based on oracles and relayers makes the protocol lighter and provides certain security guarantees. Currently, the network adoption rate of the protocol is good, with an airdrop expected.

6. Celestia: Financing $56.5M

Celestia is the first modular blockchain network, advocating the division of consensus, settlement, execution, and other functions of a single public chain into different layers, thereby improving performance by optimizing functional layers and allowing specialized blockchains to host applications on top of it, optimizing for scalability, flexibility, and interoperability.

7. Web3Go: Financing $4M

Web3Go is a data intelligence network that provides a suite of AI-native digital asset tools and real-time data infrastructure.

This network will enable users to produce various AI-native digital assets, including trading information streams, trading strategies, trading bots, entertainment, education, and social intelligent assistants. It verifies asset ownership through blockchain, providing creators with a fair, self-hosted, and trustless ecosystem.

Web3

1. Paragraph

Paragraph is an on-chain creator platform that helps creators publish, share, and build businesses around their content, using permissionless protocols to enhance growth and profitability potential.

Paragraph is leveraging novel on-chain mechanisms, such as enabling creators to turn posts into collectibles, sending newsletters to wallet addresses, monetizing through regular memberships, and utilizing decentralized social protocols (e.g., Farcaster, Lens, XMTP) to build and nurture their communities.

It not only received investment from Binance Labs in October 2022 but also secured funding from the Base Phase 1 ecosystem fund in September this year.

2. Tabi: Financing $10M

Tabi is a cross-chain NFT platform that offers NFT issuance, trading, auctions, and customized in-store services. It aims to connect creators and users in a decentralized manner. An airdrop has been confirmed, and Tabi will also convert users' on-chain activities into "experience points," which can be redeemed for future airdrop rewards and earnings.

3. Lifeform

Lifeform is a decentralized visual digital identity (DID) solution provider. Its core technologies include: ultra-realistic 3D avatar creation tools; visual DID protocols; secure and innovative contract solutions; Web3-native decentralized identity systems; and metaverse engine software development kits (SDKs). It has completed three rounds of financing, with the latest round valuing it at $300 million.

4. Playbux: Financing $2M

Playbux is a blockchain-based e-commerce metaverse platform that was shortlisted in Binance Labs' fourth season incubation program. Its product aims to become an easily accessible Shop&Earn metaverse platform, allowing users to spend and earn cashback at over 20,000 merchants worldwide.

Gaming

1. Xterio: Financing $55M

Xterio is a global cross-platform play-to-earn developer and publisher dedicated to enhancing deeply engaging game worlds through digital ownership, connecting millions of people worldwide. Xterio focuses on developing Web3-native universes that can scale across all media and platforms.

2. Fusionist: Financing $6.6M

Fusionist is a gaming world featuring collectible NFTs, consisting of three types of games: colonization, conquest, and unity. Players will manage their own planets, collect rare resources, upgrade technologies, scan blueprints to manufacture mechs, and establish production lines. They will engage in battles through PvP and PvE combat, building fleets of starships for interstellar wars and conquering the galaxy.

The founding team consists of veterans from Tencent Games, EA, and Dreamton Games. Players participating in testing will receive token airdrop rewards.

3. Ultiverse: Financing $4.5M

Ultiverse is a social gaming metaverse that connects Web3 with immersive, fully VR-compatible virtual worlds of AAA quality. By empowering players with different economic capabilities to establish mutually beneficial relationships, Ultiverse aims to create MetaFi, with strong airdrop expectations.

4. Tatsumeeko: Financing $7.5M

Tatsumeeko is an MMORPG that can be played on Discord. It combines casual gaming, Japanese RPGs, and creative building games with social elements and user-generated content, creating a platform-agnostic, community-driven modern fantasy MMORPG-lite.

5. Heroes of Mavia: Financing $5.5M

Heroes of Mavia is an MMO strategy game that draws fantasy elements from the popular mobile strategy base-building game Clash of Clans.

Players build and develop their bases on Mavia Island, train armies, and battle against other players. As players' bases and armies grow, they can attack more challenging opponents and earn tokens as rewards, which can be used to upgrade the bases themselves and create special super troops called heroes. Land NFTs have been issued, with airdrop expectations.

6. Sleepless AI: Financing

This is an AI blockchain-based virtual companion game that utilizes AIGC and LLM to create rich story-based gameplay and allows organic interaction with characters. The project is currently developing three games, with the first game being "HIM."

DeFi

1. Helio: Financing $10M

Helio is an open-source liquidity protocol for lending and earning yields on HAY—a new BNB-backed, over-collateralized, and a new category of crypto asset called "destablecoins" (where "de" stands for decentralized). The Helio protocol is built on the BNB chain and consists of a dual-token model and mechanisms that support instant conversion, asset collateralization, lending, yield farming, and staking.

2. Bracket Labs

Bracket Labs launched the Bracket Protocol options market, aimed at simplifying traditional options and structured products, allowing buyers to trade multi-currency contracts on the platform. The platform's innovation lies in that users can interact directly on a decentralized, permissionless, non-custodial platform without a margin account; there is no forced liquidation, and buyers always receive their full claim value, etc. Currently, BracketX has launched on the Arbitrum testnet.

Conclusion

In summary, Binance Labs, as the venture capital and incubation arm of Binance, the world's largest cryptocurrency trading platform by trading volume, has become an indispensable participant in the blockchain and cryptocurrency industry.

Its global influence, financial support, value creation services, and abundant resources enable it to successfully incubate and invest in projects.

For users, the bear market can be considered the best time to discover potential projects, as there is less FOMO and false APY-driven TVL compared to bull markets, making it easier to filter out serious project teams. Players can prepare for the bull market by tracking the data growth of promising projects.

The above project list can serve as a reference for research and interaction, but it is essential to note that in the crypto market, projects that truly meet user needs and succeed are rare, and most projects carry higher risks than potential. Therefore, when participating in projects, it is crucial to manage risks and ensure the safety of funds.