Empowering Bitcoin Innovators: OnePiece Labs
Launches Runes Incubator to Support and Mentor Emerging Runes
Projects
SINGAPORE, April 18,
2024 /PRNewswire/ -- OKX Ventures, the
investment arm of leading crypto exchange and Web3
technology company OKX, today announced its participation in the
'Runes Incubator.' This program, initiated by OnePiece Labs and
supported by Merlin Chain and
Franklin Templeton, aims to discover
and foster Runes projects.
This collaboration underscores OKX Ventures' commitment to
aiding developers in building innovative projects related to Runes,
a unique protocol that introduces a UTXO-based
fungible token system into the Bitcoin
network.
The Runes Incubator project was launched with the goal of ensuring
considerable reach and impact across different blockchain
technologies and market sectors. Chosen Runes-related projects will
receive bespoke mentoring, vast networking opportunities and
funding support, all tailored to meet their unique needs in Runes
development and enhance their innovative potential.
OnePiece Labs' Runes Incubator is expertly designed to scout and
elevate early-stage Runes projects that operate within key
verticals, with the goal of transforming the Bitcoin
ecosystem with each cohost, accessing essential resources that
catalyze growth and innovation. Additionally, the incubator acts as
a launchpad, empowering emerging projects to overcome typical entry
barriers such as nascent infrastructure, limited domain expertise
and financial constraints, thereby enabling their transition into
blockchain-enabled enterprises.
Merlin Chain Founder Jeff
said: "The Runes Protocol is a new BTC Layer 1 protocol for
fungible tokens, emerging in the wake of Ordinals. It
is characterized by its simplicity, efficiency and high security,
maintaining a strong adherence to Bitcoin's native
principles. Merlin Chain recognizes
significant potential in Runes across both BTC Layer 1 and Layer 2,
and is eager to support Runes developers in our incubator program
in creating products and protocols that are native to
Bitcoin."
Franklin Templeton Vice President
and Director of Digital Asset Management Kevin Farelly said: "We're excited by the
development and innovation occurring within the
Bitcoin ecosystem. Our blockchain venture capital team
combines TradFi experience with deep technical knowledge of
blockchain architecture to provide founders in the space with the
guidance and insights they need to scale their businesses and
achieve their growth goals."
OKX Ventures Partner Jeff Ren said:"The Runes Protocol is
an addition to the Bitcoin ecosystem, introducing a
distinctive UTXO-based model. It enhances blockchain's
capabilities, offers new asset issuance and also makes generating
and supervising interchangeable tokens on the Bitcoin
blockchain easier. Upon the upcoming Bitcoin halving,
OKX will also add support for Runes. This addition will enable
users to create, mint, manage and trade Runes on our Marketplace,
and makes us the first platform to offer zero-fee Runes trading on
mobile. Through our incubator program, OKX will focus on supporting
the Runes ecosystem, exploring projects with greater potential, and
making important contributions to the development of
Bitcoin."
Eschewing the structure of traditional group lectures,
OnePiece Labs prioritizes individual mentorship. The Web3 startup
incubator connects experienced mentors who listen to business
challenges and provide tailored solutions. Simultaneously, OnePiece
Labs' partners and cohosts lead each team, maintaining weekly
check-ins and working side-by-side to tackle issues effectively.
Upon completion, OnePiece Labs will host an online Demo Day. This
event will allow all participating startups to present their
ventures. An extensive network of investors will be invited to
participate, creating a unique platform for startups to demonstrate
their progress and potential through the Runes Protocol.
Comprehensive support will be provided to all participants in the
incubator.
OnePiece Labs Partner KJ Jia said: "The OnePiece Labs
team has been closely monitoring innovations within the
Bitcoin ecosystem since Casey introduced the Ordinals
Protocol in late 2022. We've kept an eye on developments in BRC-20,
Tap Protocol and Atomicals Protocol as well. We are thrilled to
witness the emergence of Runes. Meanwhile, it's gratifying to see
that esteemed collaborators such as Merlin, Franklin Templeton, and OKX Ventures share our
enthusiasm. We eagerly anticipate collaborating with the founders
of Runes to forge something remarkable in this new frontier. We are
confident that the Runes Incubator will empower these projects to
take the lead, enriching and evolving Runes applications that will
positively impact the entire BTC ecosystem."
OnePiece Labs welcomes applications from projects across various
sectors. Applicants will be evaluated based on predefined criteria
to assess their potential value. Selected candidates will
participate in a 10-week incubation program, receiving intensive
support and resources to expedite their development.
Stay informed about OnePiece Labs' updates and interact with the
OnePiece Labs community through its website, Telegram, Twitter, and
newsletter.
For further information, please contact:
Media@okx.com
About OKX Ventures
OKX Ventures is the investment arm of leading
crypto exchange and Web3 technology company, OKX. It
focuses on exploring the best blockchain projects on a global
scale, supporting cutting-edge blockchain technology innovation,
promoting the healthy development of the global blockchain
industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who
contribute to the development of the blockchain industry, OKX
Ventures helps build innovative companies and brings global
resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
About OnePiece Labs
OnePiece Labs is the premier incubator supporting Web3 startups
through a program that includes networking, mentorship, and
resource access. Our focus is on results-driven outcomes and the
success of our portfolio companies. OnePiece Labs was founded by
experienced Silicon Valley entrepreneurs and community leaders with
the goal of building the next generation of Web3 unicorns.
Disclaimer
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SOURCE OKX Ventures