Binance Smart Chain’s $1B Growth fund invests in Galxe to empower on-chain credentials in WEB 3.0
15th November 2021 — Binance Smart Chain (BSC), the leading DeFi, NFT, and GameFi ecosystem, has announced its investment in Galxe, the permissionless on-chain credentials infrastructure, via its $1 billion Growth Fund to support BSC-based projects leverage the ecosystem’s resources and significantly increase user engagement, globally.
“With the support from BSC fund, we will work with more projects in the Binance Smart Chain ecosystem. We will help them leverage the combination of on-chain credentials and achievement-based NFTs to bring the community engagement to the next level,” said Charles Wayn, Galxe Co-Founder.
“We have seen explosive demand around on-chain credentialing and on-chain marketing in the Web3 space,” Wayn added.
Galxe is building a permissionless infrastructure that powers on-chain credentials with plug-and-play NFT modules. The protocol allows everyone to create, distribute, and gamify NFTs with the customized on-chain data. Developers can build their own loyalty programs, and individuals can issue and claim the NFTs backed by their on-chain achievements.
“Identity is an innately human thing. On-chain credentials and identity-building enable individuals to live in and across different decentralized communities. Galxe enables these communities to flourish by increasing community reach, engagement, and user retention,” explained Gwendolyn Regina, BSC Accelerator Fund Investment Director. “With this investment, BSC-based projects can build seamless hosted spaces for their users and track their growth using Galxe,” said Regina.
Galxe makes NFTs more than just collectibles. They’re making them into forms of identification and empowering developers and community members to build more engaging communities together.
Binance Smart Chain, the leading DeFi, NFT, and GameFi ecosystem, launched the $1 billion Growth Fund in mid-October to push for the adoption of the BSC ecosystem and the blockchain industry as a whole.
To date, BSC has supported over 300 blockchain projects via its Growth Fund, one of the largest in the world. The second largest DeFi blockchain ecosystem plans to incubate and accelerate more than 500 startups via the $1 billion Growth Fund in the coming months.
About Binance Smart Chain
Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. Designed to run in parallel with Binance Chain, Binance Smart Chain retains the former’s fast execution times and low transaction fees while adding Smart Contracts functionality to support compatible dApps.
For more information on Binance Smart Chain, please visit — https://www.binance.org.
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