Binance Labs has rebranded itself as YZi Labs. This change comes with a new focus on investments in artificial intelligence and biotechnology.
On January 23, they announced that former CEO Changpeng Zhao will take an active role in mentoring startups within the incubator. This is an exciting development for the company.
Ella Zhang, a co-founder of Binance Labs, is back to lead the newly named YZi Labs. They will also reintroduce a 12-week in-person residency program for project founders. This program aims to support innovative ideas and projects.
The rebranded company will explore how AI, blockchain, and biotech can work together to create new opportunities. Before this change, Binance Labs had already invested in decentralized science projects and AI startups.
In August 2024, they announced investments in two AI companies to help develop decentralized applications powered by AI. One of these platforms, Sahara AI, allows users to maintain their intellectual property rights through on-chain attribution. Users can also earn rewards for contributing to the decentralized AI’s infrastructure.
They also invested in MyShell, an AI startup that helps users build and share AI-powered applications. In November, YZi Labs ventured into decentralized science by investing in BIO Protocol. This accelerator program focuses on raising capital for biotechnologies.
BIO Protocol supports decentralized autonomous organizations (DAOs) that are committed to developing new pharmaceutical drugs and life-saving treatments. This is a significant step in the world of healthcare.
So, what is decentralized science? It’s a new way to finance life-saving medicines that might struggle to get funding due to regulatory challenges or low profits for traditional medical companies. With tools like tokenized incentives and smart contracts, researchers can effectively gather support, get credit for their work, and collaborate across borders.
Even though decentralized science is still in its early stages, it’s starting to gain recognition beyond just the crypto community. For example, ResearchHub, a platform that pays researchers in cryptocurrency for peer-reviewing academic papers, was featured in Nature, a leading scientific journal, in December 2024.