A wise adage in crypto is as follows: “Follow the smart money”. Indeed, there are many ways in the crypto space to do just that. One such way would be to look at where the top Venture Capital (VC) firms are putting their money. Today, we’ll be sneaking a peek at 3 microcap projects backed by Binance Labs.
Before we begin, let’s take a look at Binance Labs. Of course, it’s a top VC firm and accelerator in crypto. But, it’s not just its name that makes it a strong VC. To date, it has helped fund over 200 projects from over 25 different countries. These comprise big names like Polygon, Injective, and Dune Analytics.
The idea is this: If a project is backed by Binance Labs, it’s more likely to succeed. It’ll have more funding, advisors, and guidance to springboard forward. Now, we do have to note that not every project backed by Binance Labs will succeed. But, having it on your team will be helpful for sure. Without further ado, let’s dive into the first micro-cap project.
Micro Cap #1 – Seascape
The first of the 3 micro-cap projects backed by Binance Labs is Seascape. Seascape is a next-generation Web3 gaming platform. Players can enjoy rewards that can be used throughout the platform. This improves the player experience. Aside from that, Seascape strives to make development easy on its platform. Currently, Seascape plans to launch its games on:
- Ethereum.
- Binance Chain.
- Polygon.
- Immutable X.
- Moonbeam.
Speaking of its games, Seascape has a total of 8 under its belt. These games are in various stages of development. To learn more about these games, you can visit the link here. There’s a good variety of game types. These range from strategy to mini-games. So, there’s something for everyone to enjoy. On top of games, Seascape has other offerings too. These include:
- An NFT marketplace. The Scape Store allows NFT enthusiasts to buy and sell NFTs.
- A Launchpad. The Lighthouse serves as a launchpad for investors to support early-stage projects.
- A Decentralized Autonomous Organisation (DAO). The DAO governs Seascape’s development and future plans. Stakers of the native $CWS token can vote on proposals collectively to decide Seascape’s path forward.
This brings us to the $CWS token. Also known as Seascape Crowns, $CWS has a lot of utility in the ecosystem. You’ll need it to buy resource packs or in-game items for the games. And to support projects on the Lighthouse. Also, you’ll need $CWS to trade NFTs on the Scape Store. In a nutshell, owning $CWS will enhance your experience within the Seascape platform.
Why Do We Think $CWS Will Explode?
There’re a few reasons why we think $CWS will rise in price.
- The team has been growing the project. That’s commendable since many projects have waned in this bear market. Some recent activity for Seascape consists of:
- Mini Miners (A game on Seascape) launching on Sui Network.
- Blocklords (Another Seascape Game) launching its open beta soon.
- Seascape has all the tools to succeed. Aside from Binance Labs’ backing, Seascape itself knows what its users want. It has an NFT marketplace, launchpad and a cross-chain strategy for its games. Thus, it’s on the right track to bring in more gamers in the future.
As of now, $CWS trades at $0.2583. It has a market cap of $1.24 million with a max supply of 10 million $CWS coins. Out of which, 4.8 million $CWS circulate. Next, let us look at a project which specializes in a niche area of NFTs – Music.
Micro Cap #2 – Melos Studio
Next of the 3 micro-cap projects backed by Binance Labs is Melos Studio. In its own words, it’s a “Decentralized Music Studio for Web 3.0”. And we couldn’t agree more. Melos Studio’s goal is to use blockchain to create a good music application. With this app, a musician’s work can be represented via NFTs. As of now, Melos Studio is active on the Ethereum, Binance, and Flow chains.
To explain, we look at the app’s features below, all of which cater to musicians and music lovers:
- Marketplace. Melos Studio has a music NFT marketplace to bring musicians and NFT buyers together.
- Sonus. With Sonus, you can add music to “upgrade” your favorite existing NFTs.
- Metis. An AI music creation tool that allows anyone to create their own music NFT.
- Virtual Band. An online collaboration tool. Virtual Band enables musicians to create music together.
Well, since we’re talking about music NFTs, we can’t simply be just reading, right? Take a short break, and enjoy some tunes from K3NN3DI, an NFT musician, here.
Aside from the above awesome features, Melos Studio is governed by a DAO. In this aspect, it’s pretty similar to Seascape. In addition, it has its own native token, $MELOS. Stakers of $MELOS have voting rights on proposals within the DAO. $MELOS has other use cases as well. This includes tipping musicians for exclusive benefits, fundraising for musicians, and so forth.
Why Do We Think $MELOS Will Explode?
$MELOS has the potential for price upside. Let’s look at why that is:
- Amongst its peers, Melos Studio has the most tools. C’mon. A Virtual Band tool. An AI music creator tool. An NFT upgrade tool. There’s really nothing much more you can ask for. With these, Melos Studio is more likely to attract musicians and music lovers to its platform.
- It cuts out the middleman for musicians. In other words, they get a bigger cut of their sales. You can refer to the blog post here on how musicians get paid. In short, they get paid over 80 cents on the dollar. In traditional music, they’ll be lucky to get 20 cents. By onboarding more musicians, more platform users will join Melos Studio.
As of now, $MELOS trades at $0.00287. It has a self-reported market cap of $1 million with a max supply of 1 billion $MELOS coins. Out of which, 327 million $MELOS circulate. Next, let’s segue into the third and final project.
Micro Cap #3 – OpenLeverage
The last of the 3 micro-cap projects backed by Binance Labs is OpenLeverage. OpenLeverage is a lending margin trading protocol. Simply put, it enables users and apps to long or short any crypto pair. Today, you can access its platform on Ethereum, Binance Chain, Kucoin Chain, and Arbitrum.
So, OpenLeverage wants to empower anyone who wants to create a margin trading market. But, what features does OpenLeverage offer to its users? Let’s explore some of them. With OpenLeverage, you can:
- Create Lending Pools. Given that they’re already available on any other Decentralized Exchange (DEX).
- Earn Rewards. You can do so by depositing your assets into lending pools. Rewards come in the form of the deposited assets or the native $OLE token. We’ll discuss more on $OLE later.
- Leverage Trade on Hundreds of Crypto Pairs. For retail traders, this can be done with a one-click transaction. For apps, this can be done after integration with OpenLeverage.
Since OpenLeverage deals with so much crypto, security is important. Thankfully, the project has been audited by Peckshield, Certik, and Code4rena. That gives users some assurance to use the platform. In addition, the project has its native $OLE token. Its use cases include staking and voting for proposals in governance. It’s also a rewards token for liquidity providers.
Why Do We Think $OLE Will Explode?
For a DeFi project like OpenLeverage, it’s all about getting more Total Value Locked (TVL). A higher TVL signifies that more users are being onboarded on the platform. We believe that OpenLeverage will reach higher TVL heights. This is because:
- It’s positioning itself in the right chains. By launching on Arbitrum, OpenLeverage is gearing itself to attract TVL. Don’t forget that Arbitrum is still a hotbed for DeFi.
- Its TVL has been increasing steadily year-to-date. Despite a large drop from its peak, TVL has been increasing slowly in 2023. With its innovative features, we believe OpenLeverage will continue to attract more TVLs.
With a higher TVL, $OLE’s price will likely soon follow. As of now, $OLE trades at $0.0127. It has a market cap of $3 million with a max supply of 1 billion $OLE coins. Out of which, 188.6 million $OLE circulate.
Conclusion
And that’s it! We’ve come to the end of the article. Today, we’ve brought you 3 great micro-cap projects backed by Binance Labs. To recap, these are Seascape, Melos Studio, and OpenLeverage. These 3 projects are all building something meaningful for the crypto space. We’re keeping an eye out for their developments, and so should you.
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