Binance Labs Invests Additional $5 Million in Ultiverse

04/02/2022By: C, Fiona

Binance has made a big bet on the Ultiverse of metaverse, a Web 3.0 social game, and ensured that binance chain provided a smooth experience for developers and users.

A week after leading the $4.5 million seed investment in Ultiverse, binance labs announced a further $5 million investment in the startup’s equity. This means that binance labs is doubling its investment in metaverse game startups.

Nicole Zhang, director of binance labs, said the additional investment was to ensure that the two companies were “connected in a way that we have some say in the team’s future path”.
Binance labs also said that these funds will be used to build a social game tuple with BNB chain. Zhang believes that their native BNB chain has the potential to support large-scale game operations.

Introduction of Ultiverse

Ultiverse is a Web 3.0 social game meta space built together with binance chain. In its announcement last week, binance pointed out.

“Ultiverse is trying to connect Web3 with a VR compatible virtual world, which will be the location of the first AAA blockchain game. As a pioneering MetaFi, Ultiverse’s tokenomics encourages mutually beneficial relationships between ecosystems, and players can benefit from community construction.”

Inside Ultiverse, users will be able to import their own NFT from multiple chains and use it in the virtual world. In addition, it will support NFT and land customization. Binance said that Ultiverse will be launched together with the first internal game, “this is a 3D MMORPG game with a real ecosystem – making money”. In the game, players can play different roles and communicate with each other.

Large market players in cryptocurrency are making a difference in the world of Web 3.0 and Metaverse. Binance seems to take advantage of this opportunity through early action.