Binance Exchange Acquires Decentralized Applications (DApps) Analytics Firm DappReview
Binance, the world's leading crypto exchange by trading volume has been known for its tons of development and the addition of new products and services to its list for quite some time now. The latest addition to its long list is the Beijing based data-driven research and advertisement provider DappReview.
DappReview usually releases several research pieces surrounding the progress of decentralized applications (dApp). The acquisition would help the world's leading exchange to expand its dApp ecosystem and develop new use cases for the blockchain technology.
Viktor Radchenko, founder at Binance's Trust 29Wallet commented on the latest development saying,
“In the near future, Trust Wallet will integrate DappReview APIs to provide easy access to explore new dapps and crypto games, as well as more insight into DeFi [decentralized finance] services, analytics, and usage,”
Binance is also planning to offer support to DappReview in nontechnical fields such as marketing and business development. Acquiring DappReview is not just helpful from a business point of view but the Beijing based subsidiary would give Binance and inward into the Chinese market which it has been trying to penetrate in recent times.
Recently, there were rumors that Binance already has an office in mainland China which was recently raided by the Police. Binance claimed there were no such Police raids and even threatened to sue the publication for creating FUD. While many claimed that Binance did have an office in China and the company was just bullying a publication to hide its closeness to the government. Vincent Niu, the founder of DappReview, said,
“By working with Binance X [the company's developer network] and Launchpad, DappReview will bring in more talented Dapp developers and assist in promising Dapp projects on fund-raising. A lot more exciting synergies with Trust Wallet, Binance Research, etc.”
“DappReview will partner with the public chains and protocols in the Dapp space through Binance's ecosystem.”
DappReview set to launch a new set of products on 2020
The DappReview is also slated to launch a new range of services in 2020, however, Niu declined to provide any details on what those products are going to be but revealed that the product will be more of an analytical tool.
DappReview was founded back in 2018 as a research and analysis firm. The platform has been churning out data-based research pieces on over 3,900 dapps from famous networks such as EOS and Tron who are market leaders in dApp hosting platforms.
Benny Giang, the founding member of CryptoKitties creator Dapper Labs, said in the statement.
“DappReview has been a staple for the blockchain gaming space since the beginning. They have been instrumental in connecting the Chinese community with the Western community.”