Binance Labs, the venture capital and incubation arm of Binance, has invested in Blum.

Gleb Kostarev, CEO and co-founder of Blum: “We are grateful to Binance Labs for their support, which will accelerate Blum’s trading infrastructure and development and help us to expand into new markets. This investment is a key milestone in our mission to enhance our platform within the Telegram ecosystem, offering users a seamless and intuitive experience across traditional and decentralized finance.”

The project was launched on April 19th, 2024, and was initially featured in the prestigious Binance MVB Programme. Within 24 hours of this announcement, over 100,000 users had signed up for Blum, marking a strong start to the platform’s journey.

Today Blum operates as a gamified Telegram Mini App, tapping into Telegram’s vast ecosystem and its growing user base of 950 million monthly active users. Although the full version of the exchange is set to launch by the end of the year, users can already explore and use some of the platform’s key features within the Telegram app.

Vladimir Smerkis, CMO and co-founder:‘Blum is the first ‘tap-to-earn’ Telegram mini-app to complete Binance Labs’ MVB incubation program. This demonstrates the rising interest in this area from the largest crypto exchange. Unlike other popular ’tap-to-earn’ projects, Blum isn’t a game but an upcoming DEX exchange that leverages game mechanics to expand our audience.”

Since its launch, Blum has successfully grown its user base through innovative gaming strategies, including a tap-to-earn model. The app now ranks as the 3d most popular crypto platform globally, boasting over 60 million users, with over 18 million daily users, and more than 20 million on-chain users (those, who have connected their wallets to the product) and the third-biggest Telegram channel with over 22 million subscribers.

Blum’s founders, Gleb Kostarev and Vladimir Smerkis, have recently unveiled a strategic roadmap to enhance the platform and accelerate growth in the Web3 sector.

Users can currently earn Blum points by tapping and interacting with the platform, connect their wallets to Blum, and earn crypto from partner projects by completing tasks and playing games.

Further product updates will include memepad, a platform where users can mint their tokens in 20 seconds, exchange and trade them on Blum.

Blum is committed to making crypto more accessible to a wider audience. To this end, they have partnered with well-known projects like OKX, BYBIT, and Bitget, as well as famous artists and rap performers. More details on these collaborations will be announced soon.

In addition to product development, Blum’s team strongly emphasizes education in the crypto space. They recently created Blum Academy on YouTube, educating people about cryptocurrency. The channel already has more than 6 million subscribers and over 8 million views. Gleb Kostarev and Vladimir frequently speak at industry conferences. In the near future, you can catch them presenting at TOKEN 2024 in Singapore.