Crypto VC company Foresight Ventures has committed $25 million to support early-stage blockchain initiatives in the BNB chain.
Singapore-based Crypto Venture Capital Firesight Ventures will invest up to $25 million in projects in the BNB chain until 2025 as part of the BNB Incubation Alliance.
In a February 24 press release shared with Crypto.News, the company said the initiative will include emerging startups through BIA, an initiative that supports projects that include access to resources, mentorship and fundraising opportunities. He said the aim is to enhance the adoption of blockchain by supporting it. BNB chain and support from YZI Lab.
“By supporting projects within BIA, we aim to fill promising ideas in the essential resources and networks they need to thrive. This collaboration will transform blockchain technology. It strengthens our belief in power and responsibility to promote recruitment globally.”
Forest-By Co-Founder of Foresight Venture
With funding, BIA will host a global event to connect early-stage projects with investors and experts. While the exact funding requirements for startups are not clear, the press release notes that choices are based on innovation, scalability, and how well they fit into the ecosystem of the BNB chain.
In mid-February, the BNB chain unveiled its 2025 high-tech roadmap, highlighting its focus on using artificial intelligence to increase transaction speeds and security.
Originally developed by Binance, the blockchain aims to reduce transaction latency to 1 second speed, allowing gas-free transactions and allowing 100 million transactions per day . In addition to these upgrades, the network is tackling longstanding security challenges, particularly those linked to the exploits of the largest extractable values.
