#YZiLabs (formerly known as #BinanceLabs ), the investment arm of the cryptocurrency exchange #Binance , announced that it has invested in M,EET48, a decentralized entertainment platform that emerged from the MVB (Most Valuable Builder) accelerator program of #BNBChain .
The CoinMarketCap chart shows a rise in the project #IDOL , which Binance Labs invested in following the announcement.
This strategic investment aims to accelerate the growth of M,EET48 and enrich the Web3-based fan experience through virtual offerings, idol management games, and physical events.
According to the official statement from YZi Labs: "We invested in M,EET48 in line with our vision to democratize fan engagement and achieve transparency in idol communities."
M,EET48 was founded in 2022, allowing fans to contribute directly to the careers of their favorite artists. According to the official announcement, the platform provides voting and reward mechanisms thanks to the integration of the IDOL token, while users can earn NFTs, participate in virtual meet-and-greets, and access exclusive content. M,EET48 aims to reach over 30 million fans through partnerships with the largest idol groups in Southeast Asia and has plans for global expansion.
The M,EET48 platform caught the attention of YZi Labs and was selected for the MVB accelerator program for the eighth season of BNB Chain. The program is managed in partnership between YZi Labs and CoinMarketCap. The team behind the platform consists of experts in the field, including Wayne Chang, one of the early Ethereum miners and a Harvard graduate, CEO Ken Hsu, who has over 15 years of experience in the media and cinema sectors, and CFO Yoshiyuki Ooi, a former strategic advisor at PwC.