BSC and Animoca Brands Launch $200M Fund for GameFi Projects

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

BSC and Animonica announced on December 6 that they will each invest up to $100 million to support gaming projects in the GameFi space.

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 fund. Launched earlier this year, the fund aims to expand BSC ecosystem services and drive mainstream adoption across the fintech space.

Animoca Brands is a major player in blockchain games and open metaverses, dedicated to providing property rights through NFT and games. The main NFT-related projects invested by the company include Axie Infinity, OpenSea, Bitski, Harmony, etc.

Gwendolyn Regina, Director of Investment at BSC, said: "Through this joint investment, BSC-based projects will have the opportunity to gain in-depth knowledge and expertise from leading gaming giants such as Animoca Brands, as well as the opportunity to collaborate with blockchain experts in the BSC community."

GameFi is the combination of games and DeFi, and together with the concept of metaverse, it is one of the hottest buzzwords in the cryptocurrency industry recently. GameFi refers to the financialization of video games, and its operating model is "play-to-earn" rather than "play-to-win".

Many major crypto companies and investment firms have invested in GameFi over the past few months, including cryptocurrency exchange Huobi, Solana Ventures, FTX, Sanctor Capital, and others.

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