BNB Chain, a blockchain network, announced on November 12th that it will receive a significant investment from Google Cloud’s web3 Startups Program. The program intends to invest $10 million into BNB Chain’s Most Valuable Builder (MVB) program, a month-long accelerator initiative for developers, founders, and builders, currently in its eighth season.
The MVB program, run in conjunction with Binance Labs, the venture capital and incubator arm of Binance, and CoinMarketCap’s accelerator, CMC Labs, is focused on accelerating the growth of decentralized applications on the BNB Chain. This collaboration with Google Cloud is a significant boost to this mission, as it will provide support to as many as 40 projects through the web3 Startups Program over the next two years.
The type of support to be offered to eligible projects comes in the form of cloud credits. For projects centered around artificial intelligence, up to $350,000 in Google Cloud credits will be provided. Meanwhile, web3-focused projects stand to receive $200,000 in cloud credits.
Google Cloud’s decision to back the BNB Chain underscores the growing trend of collaboration across various sectors in the blockchain space, including AI, gaming, and web3. Other platforms and crypto projects that have integrated Google Cloud’s infrastructure into their operations recently include MANTRA Chain, Flare, and Sui.
Furthermore, earlier this month, following the announcement of a new partnership with Google Cloud, the Cronos (CRO) token experienced a significant uptick. This provided yet another example of how strategic collaborations within the ecosystem can yield positive results. As part of this alliance, Google Cloud was added as a validator to Cronos Labs’ operations, boosting developer collaboration and providing valuable support to startups.
These collaborative efforts across the ecosystem are geared towards strengthening the decentralized applications landscape. Areas of focus include decentralized finance, the metaverse, blockchain-based gaming, and digital collectibles, such as non-fungible tokens.
This recent development marks another milestone in the growing integration of blockchain technology into mainstream tech infrastructure. As Google Cloud’s investment in BNB Chain demonstrates, the potential of blockchain technology continues to attract substantial investment and collaboration across a variety of sectors, promising exciting developments in the near future.
