Binance Smart Chain is one of the leading smart contract platforms in the blockchain market. It has cooperated with Animoca Brands, the operator and investor of a number of NFT-based games, to jointly launch a gamefi (game financialization) incubation worth 200 million US dollars plan. The two organizations will each invest USD 100 million to fund and simplify the development of new game experiences on the Binance Smart Chain.
Binance Smart Chain and Animoca bet on Gamefi
Binance Smart Chain has a new tool to attract the development of new games on its platform. The acceleration and investment branch of the smart contract chain cooperated with Animoca Brands, one of the leading Metaverse game companies, to establish a US$200 million game incubation fund. All parties will invest US$100 million to fund projects on the Binance Smart Chain that focus on games.
Xiao Yi, executive chairman and co-founder of Animoca Brands, said that it is difficult to build these projects from scratch. It takes multiple factors to build a successful project. In response, Xiao said:
The early Gamefi projects needed funds to build their products, industry expertise in open world gameplay and token economics, as well as the establishment of blockchain games and open network opportunities for Metaverse growth.
Gwendolyn Regina, Investment Director of Binance Smart Chain, said that Animoca Brands’ experience in building and operating projects such as The Sandbox (a game experience based on Metaverse) can help these newcomers gain a foothold in the crowded blockchain game market. .
Investment company rushes to Yuanjie
Binance is just one of a series of projects that have invested a lot of money in crypto game projects based on Metaverse. The US$100 million will come from the US$1 billion growth fund launched by the exchange earlier this year to incubate more projects on the BSC network.
Many companies and exchanges have entered Metaverse’s business. One of them is Kucoin, an exchange located in Asia, which has launched a $100 million Metaverse Fund to help young Metaverse projects build their platform. Two important reports prove that the entire Metaverse sector is correct. These reports explain the business opportunities that early adopters may seize in this newly identified sector.
The first was released on November 27, from Grayscale, which identified Metaverse as an investment opportunity worth $1 trillion. The second strategist from Bank of America, he also said that Metaverse will be a huge opportunity for the entire crypto ecosystem.
What do you think of the new US$200 million Gamefi BSC fund? Tell us in the comments section below.
Image Source: Shutterstock, Pixabay, Wikimedia Commons
Disclaimer: This article is for reference only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. The company or the author is not directly or indirectly responsible for any damage or loss caused or claimed to be caused by using or relying on any content, goods or services mentioned in this article.