Binance Labs Supported Solv Protocol on Its Fundraising Efforts: Details


Vladislav Sopova

Binance’s VC Branch Confirmed Investment in One of the Most Eccentric NFT-Centered Products

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Solv Protocol raises funds from Binance LabsConvertible Voucher will change the game in DAO crowdfunding

Solv Protocol pioneered the concept of the “Financial NFT”, i.e. a tokenized voucher set up to represent financial ownership and rights. The unique offering is now supported by Binance Labs.

Solv Protocol raises funds from Binance Labs

According to the official announcement that Binance shared on its official website, the innovation incubation division, Binance Labs, has made strategic investments in the early stage Solv startup protocol.

In addition to investing money in the next phases of the development of the Solv Protocol, Binance Labs will also partner with the Solv Protocol to launch non-functioning tokens on Binance’s NFT platform.

Also, the Binance Labs portfolio of Web3 companies may issue financial NFTs on the Solv Protocol platform to seek additional funding.

Peter Huo, investment director at Binance Labs, highlights the groundbreaking nature of what Solv Protocol offers for venture capital investments and the DeFi segment as a whole:

As a decentralized marketplace for financial NFT, Solv Protocol is pioneering its own field of NFT. We believe in the future synergies that Binance and Solv will have, especially financial NFTs such as vouchers have huge room for growth given their proven prevalence in traditional finance. We look forward to working closely with the Solv team to explore innovations in DeFi.

Convertible Voucher will change the game in DAO crowdfunding

Mike Meng, co-founder of Solv Protocol, is confident that Vesting vouchers offered by his team can address one of the most dangerous problems in DeFi, which is the lack of flexible and inclusive retail investment tools:

The most pressing issue in the emerging field of DeFi is the lack of an efficient and flexible tool to express complex financial contracts. The Solv protocol bridges the gap by bringing to the table financial NFTs and a marketplace specifically designed for creating and trading financial NFTs. Now that Binance Labs is our strategic investor, we are one step closer to building a better financial NFT ecosystem. I believe that all parties will benefit from participating in this innovative and fast-growing sector of the crypto world.

As previously described by U.Today, Solv Protocol has raised $4 million in a private sale. Fueled by these investments, the team introduced the Convertible Vouchers concept.

Solv Protocol promotes its vouchers as an accessible and user-friendly asset that can be used for fundraising for decentralized autonomous organizations.

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