- Binance Labs announces strategic investment in Automata Network.
- Automata Network will soon offer solutions to many issues linked with Web3.
- Together, they have many plans for the future set in motion.
Binance continues to expand its network in the crypto and blockchain field. The latest addition to the Binance team is Automata Network. The brand’s venture capital and innovation hub — Binance Labs, is happy to announce a strategic investment with Automata Network.
In detail, Automata Network is a decentralized service protocol that works to bring privacy middlewares to DApps. Thus, Binance hopes to gain a fair and privacy-centric Web3 from this investment.
Specifically, Automata Network will fix the issues that come with Web3’s traceable and transparent interactions. To highlight, Automata’s Conveyor will minimize the Maximal Extractable Value with ordered privacy.
More so, it has proven remarkable traction within the metaverse. In turn, it will help Binance expand upon NFT launches with an accessible and decent design. So far, Automata’s Witness (the off-chain governance solution with built-in privacy settings), is already supporting over 13 projects.
To name a few, Avalanche, Moonbeam Network, and Polygon Network all commend the Automata Network. Binance Labs will now support Automata Network’s expansion efforts. These will include a one-stop NFT platform that will offer Fairdrops, Blinkbox sales, a DAO platform built for the multi-chain era, and much more.
Accordingly, Bill Chin — Head of Binance Labs Funds, says,
“Automata Network hits the mark with its intuitive understanding of how a fair Web3 derives from the systemic benefits of privacy. Binance Labs looks forward to bringing Web3, especially middleware services, as Automata is building in the area to the next level.”
Just recently, Binance announced a partnership with Netmarble F&C. Indeed, it looks like the titan in the blockchain and crypto industry is gearing up for an exciting year ahead. In fact, it seems the focus will soon be on the NFT and GameFi sector particularly.
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