Binance Invests in PancakeSwap’s Utility Token CAKE: Got NFTs On Pancakeswap Marketplace?

Binance, the largest cryptocurrency marketplace, announced early hours of today, June 6, 2022, that it has invested in PancakeSwap’s utility and governance token, CAKE. The exchange made this investment package via its venture capital and incubation arm, Binance Labs. The investment is in line with their mission to encourage the next wave of global blockchain adoption. Binance Labs often empowers viable blockchain entrepreneurs, startups, and communities who positively impact the crypto space. They do this by providing necessary financing, technology development, marketing and community support, and Web3 enterprise solutions. Since then, it has grown to be the biggest decentralized application (dApp) on the BNB Chain, with daily active users of over 400,000. Currently, PancakeSwap features a decentralized NFT marketplace like Ethereum’s Opensea and Solis powered by BNB.

The Binance Smart Chain (BSC) has processed more than 3 billion transactions from 163 million unique addresses since its launch in 2020. The BSC ecosystem has more than 1,300 active dApps across multiple categories. It includes Defi, Metaverse, blockchain games, NFT, and more. Are you ready to mint your first NFT on Pancake?