• The BSC and Animoca brands have formed a $200 million fund for GameFi projects

  • Binance Smart Chain (BSC) and Animoca Brands have joined forces to create a $200 million fund to invest in GameFi projects. The collaborative investment program will support the development of early cryptocurrency-focused gaming projects based on BSC.

    Both companies have stated that they will co-invest up to $100 million each. Gwendolyn Regina, BSC Investment Director, stated that the co-investment venture will allow projects built on BSC to gain insight and expertise from industry leaders such as Animoca Brands, while also allowing collaborative opportunities with blockchain experts from the BSC community.

    Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, also stated that the investment program will fund many avenues of GameFi project development, including in-product building, networking, and providing expertise in tokenomics and open-world gameplay.

    BSC is one of the largest blockchain ecosystems, with their investment coming from their $1 billion accelerator arm, which was established earlier this year to extend BSC services and drive mainstream adoption across the fintech sector. So far, the fund has made investments in projects involving DeFi, NFTs, and GameFi.

    Animoca Brands is another well-known name in the metaverse, particularly in blockchain gaming. They work on providing property rights through NFTs and gaming, and have invested in a number of other major NFT-related projects, including Axie Infinity, OpenSea, Harmony, Bitski, and others.

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