Web3 builders considering alternative development models with BNB chain as bear market funding drops 84%

BNB Chain, a community-driven blockchain ecosystem consisting of The world’s largest smart contract blockchain, starting with its hackathons, is highlighting compelling growth stories of projects emerging from its project development program. This comes in the wake of BNB Chain’s Istanbul Hackathon, which revealed a number of strong projects.

The bearish market focus is on building quality Web3 projects – it’s time for developers to focus on identifying what real use cases need to be solved. However, quarterly funding for Web3 startups has declined by nearly 84% this year. Against this backdrop, thousands of founders have looked for alternative ways to develop their projects to the point of launch readiness.

By providing constant guidance, in addition to regularly encouraging innovation with its global hackathons, BNB Chain guides these projects through the various stages of their development journey as they strive to realize the enormous potential of Web3 .

Below are the steps projects can expect to take in partnership with BNB Chain as they work to bring their vision to life:

1. Brainstorm and develop a great idea at the BNB Chain Hackathon
2. Win a prize at a hackathon that allows early development
3. Drive further growth with continued guidance from BNB Chain
4. Get introduced to incubators that can supercharge your project
5. Launch your project on-chain

BNB Chain Hackathon winners also receive referral codes to apply to the Most Valuable Builder (MVB) to potentially increase their funding. The program – powered by BNB Chain and Binance Labs – helps projects develop and grow through mentorship, funding, and network support*.

A number of exciting projects were launched on this journey at BNB Chain’s recent Istanbul Hackathon, with several winners sharing how they plan to use their winnings to advance their projects.

Movespace, an on-chain data labeling and vector database-powered marketplace, is addressing the data transparency issue in AI training with a BNB greenfield to encourage human interactions with data. Using the funds won in the BNB Chain hackathon, they are further refining their concept – making data tradable as a regular commodity or asset – making data ownership meaningful, setting them up for success in their first round of fundraising. To prepare for.

Another winning project that exemplifies the practical applications of blockchain technology is ZeroX, a Web3 gaming platform whose main mission is to engage users on Web3 through gaming. Offering SDKs and API services for traditional game development, they are lowering the barriers to entry into Web3 for traditional game developers and gamers. They will allocate the funds won at the Istanbul Hackathon to accelerate their development and incorporate BNB Greenfield into their product, putting them in a leading position for their first funding round and upcoming public product launch.

Learn more here about all the winning projects, their experiences at BNB Chain Hackathon Istanbul, and how it is fueling their growth.

Tomasz Wojewoda, Head of Business Development at BNB Chain, said: “The quality of the projects that emerged from the BNB Chain Istanbul Hackathon was truly remarkable. It has been great to see their Web3 spirit on full display and to see how they are leveraging OPBNB and BNB Greenfield to accelerate their growth. I and the BNB Chain team look forward to being by the developers’ side and providing guidance as they continue to build toward realizing their vision.

*Disclaimer: There is no guarantee that projects will be accepted into the MVB program.

About BNB Chain

BNB Chain is a community-driven ecosystem consisting of multiple decentralized blockchains powered by BNB. It consists of the BNB Beacon Chain, its staking and governance layer, the BNB Smart Chain (BSC), which is EVM compatible and a multi-chain ecosystem with its layer-2 solutions including OPBNB and BNB Greenfield, its decentralized data storage network. Provides convenience.

BNB Chain ecosystem has the world’s largest smart contract blockchain (BSC) daily active users And has processed 3 billion transactions to date from 232 million unique addresses. This makes it the largest Layer 1 blockchain globally and offers developers massive user access with ultra-low gas fees, high transactions per second, and has experienced zero crashes since its inception. At any given time in the ecosystem, there are over 1,500 estimated active DApps across multiple categories like DeFi, Metaverse, Blockchain Gaming, SocialFi, NFTs, Infrastructure, and others. There are several programs available to support the Web3 ecosystem, including Gas Grants, Builder Grants, Kickstart, Most Valuable Builder (MVB), and AvengerDAO.