Samreen Ahmad · · 1 min readBinance Labs leads $1.5m seed round of BBS Network
Binance Labs, the VC and incubation unit of the global cryptocurrency exchange, has led a US$1.5 million seed round for Bulletin Board System (BBS) Network.
Photo credit: Burdun / 123RF
BBS is a decentralized public network of user-run online message boards. Using its native token, BBS rewards creators, curators, and other stakeholders who share content. Revenue generated by the platform is shared across all BBS ecosystem participants.
“The investment will enable us to focus on building and launching new features such as native app, search engine, and cross-BBS authentication,” said founder and CEO Eyal Hertzog.
Every post on BBS is minted into an NFT that users can create, buy, sell and collect revenue from the ad space on posts they own.
See also: Binance loophole may allow users to skirt Singapore ban
The investment is part of Binance Labs’ broader strategy to grow the global blockchain ecosystem. In the past year, Binance Labs has invested US$150 million towards 50 projects, including Moonbeam Network, Plasm Network, Highstreet, LayerZero, and DoraHacks. It also announced the third season of its incubation program, which will support projects in emerging blockchain sectors such as NFT, decentralized finance (DeFi), and GameFi, which refers to the finacialization of video gaming.
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
