Crypto is currently doing well. Over the last 30 days, Bitcoin is up by 25%. As usual, the market tends to react in unison. As a result, many altcoins are also in an uptrend right now.
But how can you find crypto gems, before they explode? If you want to be at the cradle, look at what VCs are investing in. Among the big VC guns is Binance Labs. So, let’s take a look at which projects they recently invested. This is a 4-part series. Here’s a link to Part 2.
Uncovered gems from Tier-1 VCs:
• Binance Labs
• Paradigm
• Coinbase
• A16Z cryptoGet ready for a super thread unveiling the latest narratives
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1/44 pic.twitter.com/4LkphnbJWH
— Leshka.eth
(@leshka_eth) October 26, 2023
1) Polyhedra Network
Polyhedra Network builds infrastructure for Web3. It uses ZKPs (zero-knowledge proofs) technology for this. This allows for privacy, scalability, and interoperability. Polyhedra offers, among others, a zkBridge. This bridge connects Web2 with Web3 in a trustless and secure way. See the picture below. Besides the bridge, there’s also,
- zkLightClient – this enhances security, and performance, and improves cost efficiency. It’s interoperable on all chains supported by LayerZero.
- zk-DID – a verifiable credential system. It meets all KYC, AML, and CFT purposes. Decentralized ID verification.
- zk-NFT – this offers maximum interoperability for NFTs.
Polyhedra raised $25 million to date, including Binance Labs. This is how it works:
Source: zkBridge
2) Tabi
Tabi is an NFT marketplace on the BNB Chain. You may know it as Treasureland, however, it rebranded. Besides being an NFT marketplace, Tabi offers more. For example:
- Any on-chain activities become ‘experience’ points. Tabi has no token yet. However, these experience points may count towards an airdrop.
- A gaming platform. This is a blockchain gaming aggregator.
Tabi has already raised $11 million. In April 2021, it managed to raise $1 million. In May 2023, the platform raised another $10 million. The investors were, among others, Animoca Brands, Binance Labs, and Hashkey Capital.
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3) zkPass
zkPass is a private data protocol. It uses ZKPs, MPCs (multi-party computation), and TLS (transport layer security). Their main feature is TransGate. This allows you to confirm your data on any HTTPS website. However, your data remains private during the process. No third party will see your data, nor can they store it. You can apply this to, for instance:
- Legal identity.
- Financial records.
- Healthcare information.
- Social interactions.
- Work experience.
- Education.
- Skill certifications.
To date, zkPass raised $2.5 million. Other investors were Sequoia and OKX Ventures. The picture below shows its overall architecture.
Source: zkPass
4) Aptos
Aptos is already an established layer 1 chain. It’s one of the few crypto gems in this series that already has its token, APT. The team has already raised at least $350 million. In March 2022, $200 million in a strategic round. The investors, were, among others, a16z and Coinbase Ventures.
In July 2023, we saw a ‘series A’ funding of $150 million. The investors in this round included, for instance, Jump Crypto and Franklin Templeton. Binance Labs made an undisclosed strategic investment in March 2022.
1/ On October 18, 2022, Aptos Mainnet ignited the Web3 space, redefining standards for developers, users, and visionary organizations.
The countdown to the #AptosOne anniversary begins NOW, starting with a look back at key milestones and breakthroughs over the past year.
pic.twitter.com/QrTAmvEMQT
— Aptos (@Aptos_Network) October 16, 2023
Currently, Aptos is celebrating the first anniversary of its mainnet launch. There are also strong rumors of a second APT airdrop.
5) AltLayer
AltLayer is a protocol for developers to launch application-tailored Rollups. It’s a decentralized and open layer 2 solution. Its main feature is the Beacon Layer. This is a network that allows for:
- Sequencing.
- Execution.
- Verification.
Its main focus is on scalability. It offers pay-as-you-go blockchains for one-off projects. Currently, AltLayer is only available for EVM chains. However, non-EVM chain support is in the pipeline.
AltLayer managed to raise $7.2 million in July 2022, during a seed round. Binance Labs, as lead investor, raised an undisclosed amount in August 2023. The following video shows FlashGPT, AltLayer’s Siri-like assistant.
6) Web3Go
Web3Go is a data intelligence network. It uses AI to power its data tools. It formats, visualizes, shares, and analyzes multichain on-chain data. Web3Go wants to provide an understanding of blockchain data.
In July 2023, it managed to raise $4 million in a seed round. The investors were, among others, Hashkey Capital and Big Brain Holdings. This round also saw Binance Labs taking part. It shows that infrastructure providers fare well in the crypto space. Here’s an introductory video about Web3Go.
7) KiloEx
KiloEx is a perpetuals DEX on the BNB, opBNB, and Manta Pacific chains. It’s the last of today’s crypto gems. That’s when you can short or long trades, typically with leverage. However, be careful before you use leverage in your trades. Don’t use it if you don’t understand how it works. Profits can be huge, but losses can be huge as well.
KiloEx is user-friendly and offers good risk management. Its lead investor is Binance Labs. However, the August round was at an undisclosed figure.
We are thrilled to announce that @BinanceLabs has invested in @KiloEx_perp. We aim to provide the best trading experience to all the users on @BNBCHAIN . Keep Building! https://t.co/HStaFOu9dK
— KiloEx (@KiloEx_perp) August 4, 2023
Conclusion
We cover various crypto gems in which top-tier VCs invest. For example, Binance Labs is such a top-tier VC. In this article, we look at seven projects that Binance Labs has an interest in. This article is part of a series of four. The links to other articles are at the beginning of this article.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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