Binance Smart Chain And Animoca Brands Have Set Up A $200 Million Fund For GameFi Projects

BSC-based projects will be able to get advice from Animoca Brands and help from the BSC group.

As the blockchain industry continues to grow, more and more game developers are turning to blockchain technology. The application of blockchain in games is particularly interesting because it allows for new monetization models, new ways of distribution and even new IP opportunities.

An investment programme worth $200 million will be launched by Binance Smart Chain (BSC) and Animoca Brands to help start-up cryptocurrency-themed gaming projects build on BSC.

People at BSC and Animonica said on Monday that they will each invest up to $100 million each to help with game projects in the GameFi market.

It is one of the largest blockchain ecosystems, and BSC will be investing from its $1 billion accelerator arm in DeFi, NFT, and GameFi. The fund was set up at the start of the year to help the BSC ecosystem grow and spread across the fintech industry.

People who work for Animoca Brands are very important in blockchain gaming and the open metaverse, and they are working on ways to make sure that people can own things through NFTs and games. The company has invested in a lot of big NFT projects, like Axie Infinity, OpenSea, Bitski, Harmony, and more.

“With this co-investment, projects that are built on the BSC platform will be able to get help and advice from big gaming companies like Animoca Brands, as well as work with blockchain experts from the BSC Community,” – BSC investment director Gwendolyn Regina said.

GameFi, which is a mix of gaming and DeFi, has been one of the most talked about words in the cryptocurrency industry recently, along with the idea of the metaverse. GameFi is a term for the financialization of video games. Instead of paying to win, GameFi lets people play games and earn money.

GameFi has been getting a lot of money from a lot of big crypto companies and investment groups over the last few months, like Huobi, Solana Ventures, FTX, Sanctor Capital, and more.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.