Binance’s venture arm, Binance Labs has announced they will financially back three blockchain projects with a new fellowship scheme. $15,000 in funding will be awarded to three open-source projects, known as the first ‘fellows’. These projects offer a varied selection of services centred around blockchain. The first fellows will be Ironbellly, a mobile wallet operating via Grin blockchain, HOPR, a private messaging protocol, and Kitsune, an upgradable on-chain wallet. These three first fellows will also receive resources and guidance from Binance Labs to further their projects. Explaining the fellowship, a partner at Binance Labs, Teck Chia, stated the intention of the fellowship was, “to support early-stage projects by passionate developers who want to create the key building blocks for the entire blockchain industry. On behalf of the Binance community, we would like to thank these projects for their contribution to the blockchain ecosystem.” This isn't an isolated project though, and they are preparing to fund more projects in the near future. There is a link on the Binance website, where other blockchain companies can apply for the fellowship themselves. This fellowship project joins Binance Lab’s incubation program, which supports early-stage blockchain projects and their strategic direct investments awarded to top entrepreneurs. All with the intention to reward initiatives in the cryptocurrency world that promise to develop the industry further. “The more talent an industry attracts to the space, the higher chance that it will be successful and Binance Labs hopes to further enable the overwhelming talent and builders of our industry. Thus, our part is to support early-stage projects that are helping to create the building blocks and infrastructure for larger utility and enabling growth in the blockchain market.”