Binance Labs has put in millions of dollars in decentralized digital content ecosystem Contentos.
This is according to a press release that was published earlier this week.
Backed by the largest cryptocurrency exchange Binance, Binance Labs is an initiative that pursues to support early-stage blockchain and digital currency projects and entrepreneurs by making direct investments, as well as advising and offering technical advice to projects.
The press release explained that the company has made a “multi-million” dollar contribution to decentralized digital content ecosystem Contentos, but the precise amount of secured investment was not revealed.
Within the investment project, Contentos would develop a decentralized ecosystem, which it claimed would offer transparency and monetization of content, without third-party censorship or exclusion of content.
Ella Zhang, the Head of Binance Labs, said:
“We are dedicated to identifying the real use cases to implement blockchain technologies. Through direct investments, collaborations with other industry partners, and the Labs incubation program, Binance Labs is committed to helping [firms] jump start their ideas and realize the full potential of blockchain technologies.”
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