Binance’s First Web3 Reality Show, ‘Build The Block,’ Winner is zkPass

If zkPass wins Binance’s reality show set in the Metaverse, Binance Labs will give it money.

Binance, the world’s largest cryptocurrency exchange, just finished its first metaverse reality show, “Build The Block.” At the end of the show, the blockchain project zkPass is chosen as the winner. This makes it eligible for a number of prizes from the exchange.

zkPass is a decentralized identity system that protects users’ privacy. It uses Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) to let users in the Web2 and Web3 networks prove their verifiable data.

Binance Labs will give money to zkPass

Binance chose zkPass as the winner of its show, according to a press release shared. The founding members of the protocol got the most votes throughout the seven episodes of the competition, which had 12 candidates. The goal of the show put on by metaverse is to find the next big Web3 business leader.

Joshua Peng, who helped start zkPass and got a funding from Binance Labs, said:

“We are not only thrilled to be a part of the first pitch ever done in a real time metaverse series, but especially honored to win Build The Block and have the opportunity to work closer with Binance Labs. This investment helps us immensely on our journey to be the infrastructure of this decentralized world.”

Getting paid for other projects

Binance Labs gave money to four other projects in addition to zkPass that took part in the “Build The Block” event.

Mind Network, Kryptoskatt, Bracket Labs, and DappOS were the four blockchain projects that made it to the final round. Out of the more than 900 applications that were sent to the show, they came in second.

Binance’s latest initiative, which builds on its previous launch of a $500 million fund to help Web3 companies, shows how committed it is to fostering the growth of new blockchain startups.