Binance, the world’s top cryptocurrency exchange, is venturing into the virtual world with the launch of “Build The Block,” a metaverse series that will offer startups the chance to compete for investments from the company.
The event will feature 12 handpicked contestants, chosen from over 900 applications, who will compete in a virtual studio in front of a panel of judges every Tuesday and Friday from May 12 to June 2.
Yi He, Binance’s co-founder and CMO, who also leads Binance Labs, will be among the judges, along with Yibo Ling, the company’s chief business officer, and Guy Turner, co-founder of Coin Bureau. Each episode of the competition will be live-streamed on Binance’s YouTube channel and Binance Live.
Binance Studio, the company’s in-house global creative studio for Web3, developed the series entirely within the metaverse using virtual cameras and custom avatars.
The contestants will include Sandbags Protocol, Wallet Guard, and PIP, among others. Sandbags Protocol helps businesses protect their clients’ assets from loss, while Wallet Guard is a web3 security extension designed to block wallet drainers and phishing attempts. PIP is a Web3 payment company that aims to accelerate the future of global micropayments.
This move by Binance further shows the company’s support for the Web3 community. In March, Binance unveiled Bicasso, an AI tool that lets people generate images and mint them as NFTs, and in January tightened the NFT minting rules on its marketplace to prevent misuse, scams, or copyright infringements.
Other initiatives to support emerging Web3 startups in the market include Solana’s “NFT Showdown,” a pitch competition that seeks to encourage business-minded creators to boost their NFT brand.
