Cross-European blockchain startups call for greater adoption and support. With this in mind, the team of the Binance crypto exchange blockchain has established their novel initiative – a virtual innovative incubator with expert help and mentorship, and here’s what is peculiar about it.
What’s it all about?
- BNB Chain, the global decentralized blockchain of the Binance crypto exchange, set up a developer support and Web3 education project targeting young European developers. The chosen format of the innovation incubator is meant to help them launch and grow decentralized applications (DApps) on the blockchain network.
- With 17 organizations to date taking part in the incubator, the project promises to provide training and mentorship for the upcoming generation of decentralized app developers and encourages all fledgling European startups designed on the BNB chain to apply.
- BNB Chain Senior Business Director Zoe Wei claims it is now of compelling value to make European startups more open and scalable for the fast-growing industry: “Our objective is to guide European builders in making early commitments to these fundamentals in order to grow large user bases in the long term.’’
What’s in the program?
- The mentorship program will feature Web3 industry professionals, including those from BNB Chain’s team itself, to offer insights on decentralized technology, tokenomics design, and blockchain marketing strategies. However, the incubator’s target audience is emerging Web3 startups with a minimum of one team member based in the European Union, so the initiative is not yet all-comprising.
- The project will offer a three-week hybrid format program in November-December combining remote learning, in-person meetings, and wrap-up community parties in the world’s tech-advanced capitals such as Paris, Lisbon, London, Berlin, Barcelona, and Warsaw.
- For those questioning what’s in store for winners, the organizers promise a bulky prize valued at $50,000 and comprehensive ecosystem support provided in the long run which will include security auditing and token economics training from the BNB Chain community and its partners. Among other aligned bonuses are offered a month-long gas fee incentive and a reference to the global developer support-oriented accelerator program called BNB Chain’s Most Valuable Builder (MVB).
Why it matters?
- The organizing team firmly believes that first-hand experience from partners like WorldPay and Binance Charity “will be vital in helping startups looking to tackle social and fintech challenges such as financial inclusion and environmental risks.’’ Other than that, as per the BNB Chain website, the expert team already includes a lign-up of well-established names like Jump Crypto, Pyth Network, Skyland Ventures, 1Inch, CoinMarketCap, Trust Wallet, Hash Global, Binance Research, and others, whose mentorship will provide proven quality insights.
- The European incubator is so far the most recent and comprehensive BNB Chain’s enterprise in Web3 education. Though not the first-of-its-type blockchain startup incubator, it sets long-term goals and entails concrete training and community support for its members after graduation while fostering the adoption and further spread of the most creative dApps across Europe.