OKX Ventures Teams Up with OnePiece Labs, Merlin Chain and Franklin Templeton in Backing the Runes Incubator

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Apr 18, 2024, 20:00 ET

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:
[email protected]

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.

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SOURCE OKX Ventures