Binance Crowns zkPass as Winner of its First Web3 Reality Show ‘Build The Block’

Leading cryptocurrency exchange, Binance, has just concluded its first metaverse reality show dubbed “Build The Block.” The show ends with the blockchain project zkPass emerging as the winner, opening the way to several awards from the exchange.

zkPass is a decentralized privacy-protecting identity protocol that harnesses Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technology to enable users to prove their verifiable data in the Web2 and Web3 networks.

zkPass to Receive Funding From Binance Labs

According to a press release shared with CryptoPotato, Binance awarded zkPass as the winner of its show after the protocol’s founding members received the highest votes throughout the seven-episode competition featuring 12 finalists. The purpose of the metaverse-hosted show is to search for the next big Web3 business tycoon.

Bagging an investment from Binance Labs, zkPass co-founder Joshua Peng 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.”

Other Projects Get Rewarded

Aside from zkPass, four other projects that partook in the “Build The Block” contest were rewarded with investments from Binance Labs.

The finalist blockchain projects were Mind Network, Kryptoskatt, Bracket Labs, and DappOS. They emerged as the runners-up from a list of over 900 applications received by the show moderators.

Binance’s commitment to fostering the development of emerging blockchain startups is exemplified by its recent initiative, which builds upon its previous launch of a $500 million fund dedicated to nurturing Web3 companies.