Nano Labs Ltd announced the launch of its Next Big BNB Program (NBNB) on November 26, 2025, marking a decisive shift from its legacy chip‑manufacturing business to a Web 3.0 real‑world‑assets (RWA) platform on the BNB Chain.
The NBNB program will build a comprehensive RWA infrastructure and compliance ecosystem covering equities, bonds, new‑energy assets and real estate. Nano Labs will partner with BNB Chain to create an open, diverse, and highly transparent ecosystem that enables tokenization, custody, auditing and regulatory compliance for on‑chain RWA projects.
While the program signals growth potential, Nano Labs’ financial fundamentals remain weak. Revenue has fallen 52.5 % year‑over‑year, and the company has been unprofitable for the past twelve months. Analysts maintain a “Sell” consensus, citing declining top line, negative operating and net margins, and liquidity concerns that underscore the risk of the strategic pivot.
CEO Jianping Kong said, “Nano Labs will work closely with BNB Chain to build an open, diverse, compliant and highly transparent RWA ecosystem, driving the next growth cycle of Web 3.” He added that the company is “prudent in transforming for the future” while aligning its reserves with BNB to support long‑term value creation.
The NBNB launch positions Nano Labs to tap a rapidly expanding RWA market, but the company’s ongoing revenue decline and lack of profitability suggest that the initiative will need to generate significant upside to offset existing headwinds. Investors will likely monitor how quickly the new platform can attract institutional participants and whether the RWA strategy can reverse the company’s financial trajectory.
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