Binance Complete Acquisition of DAppReview

Binance Complete Acquisition of DAppReview

Binance has completed an acquisition of DappReview, an information and analytics platform for blockchain-based decentralised applications.

DApp review is essentially what the name implies it is. With the platform’s purpose in mind to provide user insights and dapp information, with the platform currently providing this for over 3,900 dapps. Of course, while Binance have shown interest in Dapps in general before, but the acquisition of the platform is not quite what you might expect from Binance and in many ways, it is new ground for the firm.

The motivation for the acquisition though was somewhat justified by the Binance CFO Wei Zhou, who explained, “On-chain applications are still the missing piece for mass blockchain adoption. The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications.”

It also seems the goal of the deal though is to not necessarily to change the formula that has made DappReview a go-to source for information to 300,000 monthly active users across 120 countries since its launch in February 2019. Instead, it has been noted by the platform they are merely going to be involved in assisting DappReviews of developing the “dapps ecosystem and foster greater blockchain adoption.”

Something that DappReview’s founder, Vincent Niu, elaborated on, “Binance’s acquisition will empower DappReview with more resources to accelerate our business growth. Our next step is to partner with more blockchain protocols and developers on dapp data integration, and push for dapps adoption on a greater scale.” With bodes well for the potential of this new dawn in the platform’s history.

The name DappReview is one that is well-known in the industry and has earnt praise from numerous big names in the blockchain industry, including from Tron founder, Justin Sun, who in particular has been a vocal supporter of the platform. It will be interesting to see if they can maintain their integrity and notoriety going forward as a new branch of the ever-expanding Binance umbrella.

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