Animoca and Binance Venture Into a $200M Blockchain Gaming Program
Hong Kong based investor in non-fungible tokens (NFT) and decentralized gaming, Animoca Brands, has launched a $200 million program in partnership with Binance Smart Chain (BSC) to invest in blockchain gaming projects built on BSC.
A press release on Monday detailed that the two companies will each contribute up to $100 million to invest in early-stage project. BSC’s share will come from a $1billion growth fund that Binance recently started.
The partnership will see Animoca work tightly with Binance Smart Chain (BSC) to kickstart and boost new GameFi ventures on one of the largest chains in the world.
— Binance Smart Chain (@BinanceChain) December 6, 2021
Animoca executive chairman Yat Siu commented:
“Early GameFi projects currently require funding for a runway to build their products. They need support to increase their industry expertise for open-world gameplay. Also for networking opportunities to establish growth in the blockchain gaming and open metaverse.”
Gwendolyn Regina, investment director at BSC, said:
“With the co-investment, projects building on BSC will get the opportunity to gain insights and expertise from leading gaming giants such as Animoca Brands, along with collaboration opportunities with blockchain experts from the BSC Community. We look forward to working together with GameFi projects to build next-gen scalable blockchains and onboard the next one billion new users into crypto.”
Animoca Brands has a majority stake in metaverse game The Sandbox, and is an early investor in play-to-earn hit Axie Infinity and NFT trading platform OpenSea. The latest investment comes on the heels of a recent $2.2 Billion valuation in October.
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Author: Peter Siu