Binance Acquires Beijing-Based DappReview To Develop Its Existing DApps
Binance Acquires Beijing-Based DappReview To Develop Its Existing DApps
December 3, 2019
Binance Acquires Beijing-Based DappReview To Develop Its Existing DApps
Binance Acquires Beijing-Based DappReview To Develop Its Existing DApps
December 3, 2019

Binance has acquired DappReview, a Beijing-based blockchain data startup, which is an evaluation platform, offers data-driven research and advertising services to blockchain-based decentralized applications (DApps).

Viktor Radchenko, the Founder at Binance‘s Trust Wallet, said that the acquisition of DappReview will help the world’s leading exchange by volume to further develop its existing dapps and create new blockchain use cases.

He said in an interview:

“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.”

Viktor Radchenko

In return, Binance will offer support for DappReview in non-technical fields, including marketing and business development while the platform maintains its independence in technical development and operations, according to a statement from Binance.

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Likewise, 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.”

Vincent Niu

He added:

“DappReview will partner with the public chains and protocols in the Dapp space through Binance’s ecosystem.”

Vincent Niu

According to the statement, the dapp platform will release a new suite of products in the first quarter of 2020. Niu declined to reveal what the new products will be but said it is an analytical tool.

However, the acquisition also means that Binance will now have a wholly-owned subsidiary based in Beijing. In recent weeks, the exchange vigorously denied reports that it has closed an office in Shanghai and has tamped down rumors that a Beijing office was forthcoming.

It has been analyzed that Binance declined to disclose the financial terms of the deal or the actual entity that made the acquisition.

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According to an announcement on June 10 from NEO Global Capital, DappReview raised a Series A round worth millions of yuan from the firm.

As DappReview was founded in March 2018 by Niu, a former BlackRock risk and Quant Analyst, the platform provides data-based research services on more than 3,900 DApps, such as wallets and exchanges, on 13 public blockchains, including EOS, Ethereum, and TRON.

Niu stated:

“DappReview is building the bridge between protocols with developers and users.”

Vincent Niu

However, DappReview also has its own influencer media account on WeChat, where it provides reports in Chinese on the latest DApps.

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.” 

Benny Giang

So, according to its website, with its data analytics and media account, the platform also offers marketing and advertising services to companies in the space.

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Thus, Niu said:

“Next step, DappReview will expand its footprint on the global market, on which Binance will provide all needed support in terms of marketing and branding.”

Vincent Niu

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.