YZI Labs (formerly Binance Labs), the investment arm of Cryptocurrency Exchange Binance, has announced it has invested in Meet48, a decentralized entertainment platform that emerged from the BNB chain’s MVB (Most Value Builder) accelerator program.
The CoinMarketCap chart shows an increase in idol projects invested by Binance Labs following the news.
This strategic investment aims to accelerate Meet48’s growth and further enrich the Web3-based fan experience with virtual performance, idle management games and physical events.
“We have invested in Meet48 in line with our vision to democratize fan participation and bring transparency to the idol community,” reads an official statement from Yzi Labs.
Founded in 2022, Meet48 allows fans to directly contribute to the journey of their favorite idols. According to the official announcement, the platform will provide a voting and reward mechanism through the integration of Idol Token, but users will be able to earn NFTs, participate in virtual meetups, and access exclusive content. Meet48 aims to reach more than 30 million fans through partnerships with Southeast Asia’s largest idol group, and plans to expand globally.
Meet48 attracted the attention of YZI Labs and was selected as part of the BNB chain’s MVB Season 8 Accelerator Program. The program will be run in a partnership between YZI Labs and Coinmarketcap. The team behind the platform is made up of field experts, including KenXU’s early Ethereum Minor and Harvard Dropout Wayne Chan, who has over 15 years of experience in the media and film industry, and former PWC strategy advisor CFO Yoshiyuye.
*This is not investment advice.
