Binance Smart Chain and Animoca Brands set up a US$200 million fund for the GameFi project

Binance Smart Chain (BSC) and Animoca Brands are launching a $200 million investment plan to incubate BSC-based early cryptocurrency-focused game projects.

BSC and Animonica announced on December 6 that they will jointly invest up to 100 million US dollars to support game projects in the GameFi field.

As one of the largest blockchain ecosystems, BSC will invest in decentralized finance (DeFi), non-fungible tokens (NFT) and GameFi from its $1 billion accelerator unit.this The fund was established earlier this year Expand BSC ecosystem services and promote mainstream adoption in the entire financial technology field.

Animoca Brands is a major participant in blockchain games and Open Metaverse, and is committed to providing property rights through NFTs and games. The company has invested in major NFT-related projects, including Axie Infinity, OpenSea, Bitski, Harmony, etc.

“Through this joint investment, projects built on BSC will have the opportunity to gain insights and expertise from leading gaming giants such as Animoca Brands, as well as the opportunity to collaborate with blockchain experts from the BSC community,” BSC Investment Director Gwendolyn Regina Say.

related: Animoca Brands raises US$5 million for Quidd, the NFT market

GameFi is a hybrid of games and DeFi. Recently, along with the concept of Metaverse, it has become one of the biggest buzzwords in the cryptocurrency industry. GameFi refers to the financialization of video games and operates in a play-to-win mode, rather than play-to-win.

In the past few months, many major crypto companies and investment companies have been investing in GameFi, including Huobi Exchange, Solana Ventures, FTX, Sanctuary Capital, And others.