Binance Smart Chain and Animoca Brands are set to launch a $200-million investment program to incubate early cryptocurrency-focused gaming projects building on BSC.
BSC and Animonica publicized on Monday that they are co-investing up to $100 million each to support game projects in the GameFi sector.
One of the largest blockchain ecosystems, BSC will be investing from its $1-billion accelerator arm for decentralized finance, nonfungible tokens and GameFi. The fund was set up earlier this year to extend BSC ecosystem services and drive mainstream adoption across the fintech sector.
Animoca Brands is a key player in blockchain gaming and the open metaverse, working on providing property rights via NFTs and gaming. The firm has invested in major NFT-related projects, including Axie Infinity, OpenSea, Bitski, Harmony and others.
GameFi, a mix of gaming and DeFi, has been one of the biggest buzzwords in the cryptocurrency industry recently alongside the concept of the metaverse. GameFi refers to the financialization of video gaming and operates under a play-to-earn model instead of pay-to-win.
