Binance Smart Chain (BSC) and Animoca Brands have formed a $200 million fund to invest in GameFi projects. The collaborative investment program will incubate early cryptocurrency-focused gaming projects building on BSC.
Both brands stated that they would be co-investing up to $100 million each. BSC Investment Director, Gwendolyn Regina, said that the co-investment venture will allow projects building on BSC to have the opportunity to gain insight and expertise from leaders in the industry such as Animoca Brands, whilst also allowing collaborative opportunities with blockchain experts from the BSC community.
Animoca Brands Executive Chairman and Co-founder, Yat Siu, also stated that the investment program will be funding many avenues of GameFi project development, such as in-product building, networking, and providing expertise in tokenomics and open-world gameplay.
BSC is known as one of the largest blockchain ecosystems, with their investment coming from their $1 billion accelerator arm that was set up earlier this year to extend BSC services and to drive mainstream adoption across the fintech sector. So far, the fund has invested in projects that involve DeFi, NFTs, and GameFi.
Animoca Brands are also a big name in the metaverse, most predominantly within blockchain gaming. They work on providing property rights via NFTs and gaming, and have invested in many other major NFT-related projects such as Axie Infinity, OpenSea, Harmony, Bitski and more.
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The post BSC & Animoca Brands Form $200 Million Fund for GameFi Projects appeared first on NFT Plazas.
