Binance's Investment Arm YZi Labs Invests in Decentralized Entertainment Platform MEET48
YZi Labs, the investment arm of Binance (formerly known as Binance Labs), announced that it has invested in the decentralized entertainment platform MEET48, which emerged from the BNB Chain's "Most Valuable Builder" (MVB) accelerator program. This strategic investment aims to accelerate the platform's growth and expand Web3-based fan engagement.
YZi Labs stated the following in a related announcement:
"We are pleased to invest in MEET48 with our vision of democratizing fan participation and bringing transparency to idol communities."
What is MEET48?
Founded in 2022, MEET48 is a decentralized platform where fans can directly contribute to the career journeys of their favorite idols. With IDOL token integration, users can participate in votes, win rewards, own NFTs, and gain access to virtual meetings and exclusive content.
The goal of MEET48 is to reach over 30 million fans globally, especially in Southeast Asia, through collaborations with popular idol groups and to expand globally.
A Strong Team, A Strong Vision
MEET48 stands out as one of the selected projects under the MVB Season 8 Accelerator Program of the BNB Chain. The program is conducted in partnership with YZi Labs and CoinMarketCap.
The team behind the platform is quite experienced:
Wayne Zhang: An early Ethereum miner, who also transitioned to entrepreneurship after leaving Harvard University.
Ken Xu: CEO with over 15 years of experience in the media and film industry.
Yoshiyuki Oe: Has a background in strategy consulting at PwC and currently serves as CFO.
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