An AMA is a strategy through which someone opens up a thread in Reddit for a period so people can ask all kinds of questions to the Thread initiator. In this way, a higher level of interaction is achieved vis-à-vis other strategies such as forums, chats or tweets.
The use of this tool proves how seriously Binance takes the investments it makes in side projects without losing focus on the famous exchange as a star product.
Binance Labs was born as an initiative of the Binance team to finance and promote projects focused on the growth of the cryptomarket and blockchain technology ecosystem.
Ella Zhang, Head of Binance Labs, who will be answering the community’s questions at Binance Labs’ first AMA on Reddit, defines the mission of this branch in her official blog:
“Binance Labs is a social impact fund. It is an initiative to incubate, invest and empower top blockchain and cryptocurrency entrepreneurs, projects, and communities. Binance Labs is not a profit-driven fund, but an impact-driven, mission-driven and passion-driven strategic fund for the entire ecosystem, not just for Binance. Our mission is to solve problems that matter most to the ecosystem and change the world for the better.”
Binance Labs: A Small Project With a Great Team Behind
Along with Ella Zhang, other Binance Labs members participating in Binance Labs’ first AMA on Reddit will be Benjamin Rameau, Flora Sun, Ling Zhang and Christy Choi and the Partner of Binance Labs Teck Chia.
The community positively received the Twitter announcement. Despite being a small project compared to Binance, the likes and comments on social networks show that the ecosystem follows these types of projects very carefully.
Binance is currently the most important exchange by volume of transactions according to coinmarketcap.
A few hours ago, Ella Zhang had already made her mark on social networks for her comments, acknowledging that cryptos are a bubble that should burst.
Her statements, though harsh, have a strong foundation considering they come from person used to dealing with high-risk investments:
“We’d like the bubble to break. We still see a lot of hype in the market; valuations are high and unreasonable. We really think if the bubble bursts, it’s a good thing for the industry.”