BNB Chain Reinforces Commitment to Blockchain Innovation with BIA Events

[PRESS RELEASE – Dubai, UAE, August 6th, 2024]

Despite trends in the crypto market, BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, remains dedicated to accelerating blockchain innovation through its BNB Incubation Alliance (BIA). The recent BIA event in Nashville, along with the earlier Brussels launch, highlights BNB Chain’s ongoing efforts to support projects in crossing the chasm and onboarding the next billion Web3 users.

BIA’s launch at EthCC in Brussels was pivotal in nurturing promising blockchain projects and facilitating meaningful industry interactions. Experts from Binance Labs, Bitkraft, Zero Knowledge Ventures, Outlier Ventures, Spartan Group, Faculty Group, and Penrose Ventures shared valuable insights into industry trends and project evaluation. BNB Chain’s Solutions Architect delivered a compelling keynote that set the tone for an inspiring day of presentations and discussions.

The next BIA event, held during Bitcoin 2024 in Nashville featured presentations from 14 innovative projects. The event was highlighted by insightful panel discussions and evaluations led by 12 esteemed judges from leading organizations. Key insights from the panel featuring venture capital experts included:

• Founder Focus: Emphasis was placed on strong founding teams rather than token sales. The panel highlighted the importance of using tokenomics to support product development.
• Real-World Solutions: Projects addressing tangible problems were favored. The potential of Layer 2 solutions was recognized, with a call for innovative product launches.
• AI and Decentralized Infrastructure: There was notable interest in AI and decentralized infrastructure, with marketplaces seen as a promising model. Earlier public sales were recommended to improve price discovery.
• Bitcoin Ecosystem: Panelists discussed expanding the Bitcoin ecosystem’s adoption among individuals and institutions, stressing the need for user-friendly solutions with significant network effects.

The BIA Brussels and Nashville events highlighted a diverse range of innovative projects. In Brussels, the event featured Payman, Balloon Dogs, Blackwing, Skate Chain, Bandoo, Udex, Open Social, Alaya AI, ADOT Network, BlackWing, Arkis Finance, ION Protocol, Absinthe, Bloom, PurerAir-Depin, OpenLayer, PLUR, Lookonchain, Moelive, Balloon Dogs, AAA (All Access Anonymous), Holonym, YieldNest, Kasu Finance, and Mira. The Nashville event showcased Avalon Finance, Bedrock, Rivo, KvantsAI, Folks Finance, BitRivals, Trips, RNDM, The Colony, Moso, ZKT Network, Catalog, iAgent, DePHY, and GoldLink.

The winners from the Nashville BIA—Avalon Finance and Bedrock—along with the winners from the Brussels BIA—Payman, Balloon Dogs, and Blackwing—have been fast-tracked into BNB Chain’s Most Valuable Builder (MVB) program. This aligns with BNB Chain’s broader builder support program, which includes:

• Ideation Phase: Hackathons, BIA, and MVB to nurture early-stage projects with potential grants and investment opportunities from Binance Labs.
• Post-Deployment Phase: Incentives and grants for metrics like daily active users (DAU), total value locked (TVL), and trading volumes to support sustainable growth.
• Additional Support: Kickstart, business development, 24/6 tech support, and marketing assistance.

By providing crucial resources and fostering collaboration, BNB Chain continues to empower startups and developers, supporting their journey towards mainstream adoption. Despite trends and conditions in the crypto market, BNB Chain remains dedicated to nurturing promising projects and facilitating their growth.

For more information about the BIA program, users can visit here.

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:

• BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
• opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
• BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.

Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.

For more, users can follow BNB Chain on X or start exploring via BNB’s Dapp library.