Binance Smart Chain and Animoca Brands: $ 200 million fund for GameFi projects

Binance Smart Chain (BSC) and Animoca Brands are launching a $ 200 million investment program to support early cryptocurrency-focused gaming projects built on BSC.

BSC and Animonica announced on Monday that they would jointly invest up to 100 million US dollars to support game projects in the GameFi sector.

BSC is considered to be one of the largest blockchain ecosystems and wants to invest in decentralized finance (DeFi), non-fungible tokens (NFT) and GameFi through its accelerator. The fund was launched earlier this year to expand the range of services in the BSC ecosystem and promote acceptance across the fintech sector.

Animoca Brands is a major player in blockchain gaming and the open metaverse. The company takes care of property rights over NFTs and gaming. The company has invested in major NFT projects including Axie Infinity, OpenSea, Bitski, Harmony.

"With this joint investment, projects that build on BSC can leverage the expertise of leading gaming giants like Animoca Brands and collaborate with blockchain experts from the BSC community," said BSC Investment Director Gwendolyn Regina.

GameFi, a mix of gaming and DeFi, has been one of the biggest topics in the cryptocurrency industry lately alongside the concept of the metaverse. GameFi is a form of video game monitoring and uses a so-called "Play to Earn" model instead of "Pay-to-Win".

Several large crypto and investment firms have invested in GameFi in the past few months, including the Huobi crypto exchange , Solana Ventures, FTX , Sanctor Capital, and others.

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