Binance, currently the world’s largest cryptocurrency exchange by market value, has taken another significant step in terms of Web3 investments. Binance Labs, the investment arm of Binance, announced a strategic investment of $6.6 million into Fusionist, a Web3 gaming DApp, as a move to encourage innovation and adoption in Web3 games, according to their official statement on Twitter.
With cryptocurrencies gaining wider popularity globally in recent years, a multitude of projects have been launched within the crypto ecosystem across various fields. The resurgence of the Metaverse concept and the emergence of numerous Metaverse projects led to the development of numerous projects in the Web3 domain. This period has seen Web3 gain even greater popularity, leading to multiple institutional investors making various investments in this area. Binance, regarded as the world’s largest cryptocurrency exchange by market value, made a new move in this context, strategically investing $6.6 million in the Web3 gaming platform, Fusionist.
Binance Labs, the investment arm and venture capital of the cryptocurrency exchange Binance, made an announcement via its Twitter account during the day. Binance Labs revealed a strategic investment of $6.6 million into Fusionist, a Web3 gaming DApp, in a bid to foster innovation and adoption in Web3 games.
Fusionist’s CEO expressed excitement over Binance, one of the leaders of the crypto sector, joining as a strategic partner in his statement:
We are thrilled to have Binance Labs join us as a strategic investor and partner. With the support of an industry leader, we can raise the bar even higher for what Fusionist can accomplish in the future.