At the recent WBE3.0 Summit in Hong Kong, Zhongtian Hong Kong Group announced that it will inject USD 70 million into the ID LABS ecosystem for domain name development and other aspects. This move has attracted widespread attention from insiders and injected new impetus into the development of the blockchain industry. The capital injection of Zhongtian Hong Kong Group will provide strong support for the development of ID LABS and is expected to promote its innovation and development in the field of blockchain ecosystem.

The ID Labs ecosystem is an ecosystem based on Space ID, which aims to provide users with more comprehensive and diversified services. Through the ID Labs ecosystem, users can perform operations such as digital asset management, trading, and investment, and at the same time participate in various community activities to obtain more rewards and benefits.

Space ID is a Web3 identity network that facilitates the acquisition and management of domain names through blockchain technology. Among them, IDLabs is one of the Web3 ecological applications. The platform debuted in April 2023 when its .bnb domain name service was launched. Thanks to the platform, users are able to obtain decentralized identities on Ethereum, BNB chain and Arbitrum.

According to the official website information, the Binance (.bnb) domain name service on the Web3 platform has registered 701,401 domain names with 495,307 different owners. Second, it added 2,553,413 domains and 640,066 unique owners to its Ethereum (.eth) name service. Third, 232,886 owners of 267,264 domains registered with the Arbitrum-based.arb name service.