DappReview, a Beijing-based database platform for decentralized applications (dapps), announced Tuesday that it has been acquired by Binance, the world’s largest crypto exchange, for an undisclosed amount.
Binance and DappReview share a mutual goal and vision – driving the massive adoption of blockchain applications. 💪💪💪 https://t.co/50K6ikW7Qi
— DappReview (@dapp_review) December 3, 2019
According to the announcement, DappReview will join the growing Binance ecosystem but remain an independent website. Binance plans to provide support in non-technical fields including marketing and business development, as well.
“On-chain applications are still the missing piece for mass blockchain adoption,” said Binance CFO Wei Zhou. “The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications. This acquisition marks a significant step into the dapps ecosystem, and we will have more exciting developments in the near future.”
Vincent Niu, the founder and CEO of DappReview, added, “The mission of DappReview is to build a vibrant dapps ecosystem and boost mass adoption of blockchain. Apart from dapps analytics services, we also provide full packages of support for dapps developers from fund-raising, product development to marketing and promotion. Binance’s acquisition will empower DappReview with more resources to accelerate our business growth. Our next step is to partner with more blockchain protocols and developers on dapp data integration, and push for dapps adoption on a greater scale.”
This acquisition is part of a growing trend of M&A and venture capital funding for dapp and NFT-related startups. Two months ago, DappRadar, one of the largest database platforms for dapps, raised a $2.3 million seed round led by Naspers Ventures. Dapp.com, another competing dapp database platform, closed its own $1 million round in September led by Hashed, a Korean blockchain accelerator and investment fund.
More recently, Gemini, a New York-based crypto exchange founded by the Winklevoss twins, acquired Nifty Gateway, a platform that enables the purchase and management of NFTs.
DappReview is currently the 315,454 most visited website in the world according to SimilarWeb, with China and the United States making up over 31% of the site’s traffic.
More: Binance Acquires Leading Decentralized Application Platform DappReview to Further Blockchain Adoption
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.