Binance Labs has invested in a free-to-play web3 game project that will operate on BNB Chain. After the investment, the altcoin of the project in question experienced a splash. Thus, there was a positive movement in the market, which was on the red board following the FTX bankruptcy. Here are the details…
Binance invested $4 million
Binance Labs has made a strategic $4 million investment in Ultimate Champions, a free-to-play fantasy sports platform to be deployed on BNB Chain. Ultimate Champions provides in-game wallets to make it easier to get used to the game. Ultimate Champions will use the funds raised to further develop their game, provide additional sports affiliates and grow their community. Reinforces fiat payments for NFT packages and their tokens. In addition, players collect and exchange officially licensed player cards as NFTs.
Ultimate Champions will be available on the Binance Fan Token Platform. It will allow players to strengthen their fan experience. It will also allow them to interact with their favorite groups. Ultimate Champions partnered with EuroLeague, a professional basketball management company. Thus, the project will enter the fantasy basketball field next year.
Koindeks.com As we have also reported, Binance’s venture capital arm, Binance Labs, drew attention to unknown projects with many investments in the past period. According to the information, it has invested in more than 200 projects from 25 countries since 2018. Additionally, Polygon has incubated more than 50 Web3-specific projects, including Perpetual Protocol and Dune Analytics. It is currently the largest crypto venture capitalist in the segment, with $7.5 billion in assets under administration.
More about Ultimate Champions
Ultimate Champions offers officially licensed digital cards hosted as NFTs. It’s completely free to play and reveals a mid-league fantasy sports platform. Players can leverage sports information to gain long-term rewards in an open economy and to take full ownership of the assets they earn or buy in the games. The project introduces itself in the following terms:
Ultimate Champions will continue to create an immersive player experience and will grow to become the fantasy sports platform of choice for all major sports. The core team witnessed the rise of Blockchain technology and Web3 while developing video games at Ubisoft.
Coin price jumped
The development in question raised the price of the project’s altcoin project CHAMP. The cryptocurrency rose from $ 0.041 to $ 0.0901. Thus, it experienced a 121 percent jump in a one-day period. Coin’s 24-hour trading volume rose to $1.66 million. It should be noted that the coin is not currently listed on Binance.