Overview of Binance Labs investment strategy: DeFi and infrastructure lead the way

Author: defizard (@belizardd); translation: Noc, BlockBeats

This article compiles the views of defizard, CMO of Lucid Finance, on his personal social media platform. BlockBeats has summarized it as follows:

Binance Labs was founded by CZ, founder of Binance, in 2017. The company is the venture capital arm of Binance, aimed at promoting the development of blockchain and cryptocurrency. By tracking the projects it has invested in, it is possible to achieve amazing returns.

Binance Labs’ strategic focus covers multiple key areas:

• Infrastructure

• Decentralized Finance (DeFi)

• Gaming and Metaverse

• Social Finance (SocialFi)

• CryptofinTech

• Developer applications and tools

Binance Labs’ large investment categories:

• $1.6 billion investment in DeFi

• $1.55 billion investment in blockchain infrastructure

• $1.5 billion investment in blockchain service areas

• $1.48 billion investment in GameFi

Binance Labs’ co-investors:

• Animoca Brands

• HashKey Capital

• Coinbase Ventures

• NGC Ventures

• Hashed Fund

Binance Labs’ highest return on investment projects:

• Polygon – 237x

• The Sandbox – 78.6x

• Axie Infinity – 62.2x

• MultiversX – 61.7x

• STEPN – 40.2x

• Injective – 35.5x

Current chain’s largest token holdings:

• Perpetual Protocol (PERP) – $1.49 million

• ETH – $19.71

Recommend 3 top star projects supported by Binance Labs:

Chain Game Fusionist

On June 1, 2023, Binance Labs announced a $6.6 million seed round investment in Web3 game company Fusionist, which was jointly led by Web2 game giant FunPlus in May 2022. The financing will be used to continue to accelerate game development and establish the Endurance mainnet ecosystem, which will launch in January 2023.

Fusionist acts as both a game and game infrastructure layer, aiming to create an ecosystem that supports multiple games and ensures that assets in games are real, tradable, and sustainable through blockchain technology. The project is based on blockchain smart contracts and provides players with unique digital assets and game mechanisms. Recently, the test version of Fusionist has ended, and players who participated in the test have received ACE airdrop rewards.

Zecrey, a Layer 2 cross-chain protocol

On May 17, 2022, Binance Labs announced a strategic investment of $6 million in Zecrey, a Layer 2 cross-chain protocol. The funds raised in this round will be used to expand Zecrey’s development team, promote marketing, brand promotion, and cooperation.

Zecrey is a Layer 2 privacy cross-chain protocol based on ZK Rollup, which can realize cross-chain aggregation and management of digital assets on different public chains (such as Ethereum, NEAR, Solana, BNBChain, etc.). It has privacy and scalability features and provides user-friendly wallets, including L1 and Zecrey’s local L2.

Polyhedra Network, a ZK infrastructure startup

On February 21, 2023, Polyhedra Network completed a $10 million financing round, led by Binance Labs and Polychain Capital, with participation from Animoca Brands and Dao 5, among others. On April 4, 2023, Polyhedra Network completed a $15 million Pre-A round of financing, led by Polychain Capital, with participation from ABCDE, SBlockingrkle Ventures, HashKey Capital, Foresight Ventures, Kucoin Ventures, NGC Ventures, and Arcane Group.

Polyhedra Network is a startup that provides Web3 infrastructure supported by zero-knowledge (ZK) proof, and is building a system that focuses on blockchain interoperability, scalability, and privacy. These systems include zkBridge, which facilitates cross-chain asset and data transfer.

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