A $500 million investment program was announced as part of the $1 billion fund announced by Binance.com last month for the development of Binance Smart Chain.
The investment program aims to accelerate mainstream adoption and provide innovative alternatives to legacy financial infrastructures. The half-billion-dollar fund will be distributed through direct investments in projects and initiatives, as well as joint investment collaborations with industry leaders in different fields.
In the statement, it was noted that discussions are ongoing with a wide range of entrepreneurs and creators, from creating new DeFi protocols to GameFi/SocialFi, cross-chain platforms. The focus areas will be:
- Decentralized computing and Web3 infrastructure
- Web and developer tools
- Advanced DeFi
- real world assets
Up to $1 million will be invested in exchange for shares or tokens for each of the projects in these areas. On the other hand, market-leading startups were also invited to apply under the joint investment cooperation.