The IDOL token of MEET48, a BNB-based fan-engagement platform, has surged over 40% in value following news of a strategic investment by YZi Labs (the rebranded growth arm led by Changpeng Zhao).
Notably, YZi Labs recently shifted its focus under CZ’s leadership to include sectors such as Web3, artificial intelligence (AI), and biotech. The firm’s portfolio already spans over 250 startups and manages assets exceeding $10 billion. Its backing of MEET48 signals a vote of confidence, amplifying the token’s appeal and credibility and resulting in its price surge.
Why Yzi Labs Invests in MEET48
According to an official statement by YZi Labs, its decision to invest in MEET48 is rooted in the platform’s unique position in the entertainment and Web3 innovation sectors. It claims the project stood out during BNB Chain’s Most Valuable Builder (MVB) Season 8 accelerator program.
The investment firm believes that the project’s uniqueness as a decentralized social platform (rather than a traditional DeFi or trading application) suggests its potential to redefine fan ecosystems through blockchain technology.
YZi Labs also claims that the project’s founding team makes it credible, as it is made up of experts across blockchain, media, and strategic consulting. While its co-founder, Wayne Zhang, was an early Ethereum miner, its CEO, Ken Xu, has over 15 years of experience in the media and film industry.
The latest investment aims to boost MEET48’s expansion strategy, focusing on fan-driven innovation across Japan, Malaysia, South Korea, and beyond. The funding will support idol ranking campaigns, co-branded events, and virtual performances. It would also fund its participation in a Web3 idol voting gala in Hong Kong on August 2, 2025, featuring over 300 idols.
YZi Labs Invests in Other Projects
YZi Labs is actively investing in high-growth projects across the crypto industry. It recently added Avalon Labs to its portfolio. With over 20,000 BTC under management and more than $500 million in total value locked, the CZ-led firm believes Avalon will emerge as a leading Bitcoin DeFi platform.
Another example is its seed-stage investment in THENA, a decentralized exchange built on BNB Chain. Since receiving support from YZi Labs, THENA has bolstered its development of security protocols and user acquisition efforts, believing it will become a unified “SuperApp” for DeFi services.
Meanwhile, Google Cloud has boosted the BNB Chain ecosystem with a $10 million investment in the Most Valuable Builder (MVB) accelerator program. The collaboration grants up to $200,000 for Web3 projects participating in MVB Season 8, which MEET48 has benefited from.
