{"id":3310,"date":"2022-03-26T05:12:01","date_gmt":"2022-03-26T05:12:01","guid":{"rendered":"https:\/\/metaverseplanet.net\/blog\/?p=3310"},"modified":"2025-12-30T08:40:09","modified_gmt":"2025-12-30T08:40:09","slug":"big-support-from-binance","status":"publish","type":"post","link":"https:\/\/metaverseplanet.net\/blog\/big-support-from-binance\/","title":{"rendered":"Big Support from Binance: $9.5B Investment in Metaverse Coin!"},"content":{"rendered":"\n

Just one week after leading a $4.5 million seed investment for Ultimate, Binance’s venture arm is making another significant bet by investing an additional $5 million in the metaverse gaming startup.<\/strong><\/p>\n\n\n\n

Binance Labs, the venture capital and incubator unit of the crypto exchange, announced its initial investment in Ultiverse (MXS) in a blog post on March 18. DeFiance Capital also participated in the funding round, along with contributions from Three Arrows Capital and SkyVision Capital.<\/p>\n\n\n\n

The fund was collaboratively managed by DeFiance Capital with involvement from Three Arrows Capital and SkyVision Capital. The initial $4.5 million investment took the form of the sale of Ultiverse’s management token MXS.<\/p>\n\n\n\n

However, in a joint statement, both companies revealed that Binance Labs has decided to further invest $5 million in Ultiverse’s equity. This additional investment aims to establish a strong connection, providing the firms with a degree of influence over the future trajectory of the team, as explained by Binance Labs director Nicole Zhang to The Block.<\/p>\n\n\n\n

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\u201cThe only ecosystem that widely supports BNB Chain game projects\u201d<\/h2>\n\n\n\n
\"Big<\/figure>\n\n\n\n

Following the announcement of the first seed round, Binance Labs has revealed that the funds will be utilized to develop a social gaming metaverse<\/a><\/em><\/strong> using BNB Chain, Binance’s blockchain.<\/p>\n\n\n\n

BNB Chain, introduced after the platform’s rebranding in February, is designed to cater to large-scale applications, particularly those offered by gaming and metaverse projects.<\/p>\n\n\n\n

Zhang, Binance<\/a><\/em><\/strong> Labs director, emphasized that BNB Chain is currently the sole ecosystem capable of supporting game projects at scale.<\/p>\n\n\n\n

He expressed that once a blockchain becomes highly popular, it can face capacity issues, and BNB Chain is uniquely equipped to handle such challenges.<\/p>\n\n\n\n

\"Big<\/figure>\n\n\n\n

Zhang referred to past experiences where games like BinaryX and Cryptoblades gained significant traction, causing strain on Binance’s blockchain.<\/p>\n\n\n\n

He assured that Binance has addressed these capacity concerns by augmenting its capabilities, stating, “We are super ready now. We have the capacity.”<\/p>\n\n\n\n

Ultiverse, led by CEO Frank Ma, has assembled a team of over 100 individuals actively working on the development of its games.<\/p>\n\n\n\n

Their initial project, Endless Loop, is slated to be a 3D multiplayer online role-playing game (MMORPG) featuring play-to-win functionality. The game is scheduled for a full release in the first quarter of 2023<\/p>\n\n\n\n

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    <\/ul>","protected":false},"excerpt":{"rendered":"

    Just one week after leading a $4.5 million seed investment for Ultimate, Binance’s venture arm is making another significant bet by investing an additional $5 million in the metaverse gaming startup. Binance Labs, the venture capital and incubator unit of the crypto exchange, announced its initial investment in Ultiverse (MXS) in a blog post on …<\/p>\n","protected":false},"author":1,"featured_media":3311,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAown96uCw:productID":"","footnotes":""},"categories":[322],"tags":[71,318],"class_list":["post-3310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metaverse1","tag-binance-news-and-content","tag-metaverse-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/3310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/comments?post=3310"}],"version-history":[{"count":0,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/3310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media\/3311"}],"wp:attachment":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media?parent=3310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/categories?post=3310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/tags?post=3310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}