Binance Labs, the venture capital and incubation arm of Binance Exchange, has announced that it will invest in 7 startups under Season 5 of The Most Valuable Builder (MVB) accelerator program.

Co-run by the BNB chain, the MVB program focuses on helping innovative projects establish their brands on the BNB chain.

While the current iteration of the MVB Program is the most hotly contested, with over 700 people taking part, the seven startups sure to receive support have proven to be resourceful and innovative and will be a welcome addition to the current Binance ecosystem and beyond.

Projects to be launched include SpaceID, a startup creating open source, censorship-resistant, decentralized universal identifiers; Overeality, a protocol that builds the infrastructure for Web3 interoperability and scalability; Multichain Event Protocol, an interoperability communication protocol.

Others include Meta Apes, a free-to-play, win-win mobile strategy game; Velvet Capital, which makes DeFi more elegant and secure by helping users automatically invest in tokenized wallets; Web3Go, a multi-chain open data analytics platform that supports push notifications for chain events, and; Gameta, a platform that allows users to play different casual games under one roof.

“The MVB Accelerator program helps innovative projects scale on the BNB chain so they can reach their full potential,” said Binance Co-Founder Yi He, who was appointed Director of Binance Labs, “Binance Labs supports founders in their products, operations, community, and capital needs. These projects will further grow and positively impact the BNB chain and the broader crypto ecosystem.”

Binance currently occupies a pivotal point in the digital currency ecosystem and is approached alongside the FTX Derivatives Exchange as the lender of last resort. With the crypto industry shaken by price crashes and bankruptcies, financial support from Binance and FTX has been relied on as an important avenue for struggling startups to get back on their feet.

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