Binance Smart Chain and Animoca Brands Form $ 200 Million Fund for GameFi Projects

Female gamer winning in online video game and celebrating victory, wearing headphones

Investing $200 million to launch early cryptocurrency and gaming projects based on BSC is now in motion. BSC and Animonica announced that they’re Dec. Six is co-investing up to $100 million to support game projects in the GameFi sector. The largest blockchain ecosystems will invest from its $1 billion accelerator arm for decentralized finance (Defi), and nonfungible tokens (NFT). They made an effort earlier this year to expand the BSC ecosystem services and drive mainstream adoption across the fintech sector.

Animoca Brands is an important player in blockchain gaming and the open metaverse, working on providing property rights through NFTs and gaming. The company invested in many NFT related projects, including Axie Infinity, OpenSea, Bitski, Harmony, and others. The opportunity to be gained through this co-investment will be projects based on BSC by leading gaming giants, such as Animoca.

Animoca Brands raised $5million for NFT marketplace Quidd GameFi, which is a combination of gaming and Defi. GameFi describes the financialization of video gaming and provides a play-to-earn model rather than a play-to-win model. Several crypto companies, along with investment firms, have been investing in GameFi over the past few months, including Huobi crypto exchange and SolanaI agree.

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