Binance, a cryptocurrency exchange, has announced that Binance Labs, its venture wing, has introduced the first batch of blockchain projects from its Incubation Program.

The venture wing was setup to help blockchain and digital assets startup projects offering investments and technical assistance. The Binance Labs Incubation Program was launched in August 2018 to fund early stage blockchain companies. Binance Labs had selectively picked eight from around 500 projects, each of which was offered $500,000 as seed fund along with other necessary resources.

The projects selected by Binance include SafePal, a hardware wallet platform; Torus, a developer of fictionless logins for decentralized apps; Nym, an Internet security project, and Deaux, a market prediction startup. The firm also invested in Contentos, a decentralized digital content ecosystem. The startup is set to build a decentralized ecosystem aimed at offering transparency and monetization of content, without the need of third-party censorship.