Binance Labs, the venture arm of the Binance exchange, has completed the 6th season of its Incubation Program, which was created to invest in early-stage crypto projects. The company selected 7 projects for investment.

The projects Binance has invested in and the areas in which they operate are as follows:

*Ethena Labs: a synthetic dollar protocol developer
*Derivio: a zkSync-based decentralized derivatives exchange
*Shogun: an intent-centric DeFi protocol aiming to maximize trader extractable value
*UXUY: decentralized exchange trading platform
*Cellula: an on-chain autonomous life simulation strategy game developer
*NFPrompt: an AI-powered web3 user-generated content platform
*QnA3: an AI-powered web3 knowledge sharing platform

“We do not invest in every project”

This incubation program, which started in December, was completed with 7 investments. Binance had selected 12 projects for investment evaluation, but only 7 of them were invested in. A spokesman for Binance said that they do not invest in every project they include in the incubation program.

Binance had selected 12 projects in the 5th season of the incubation program, but decided to invest in only 5 of them.