BSC cooperates with Animoca Brands to launch a $200 million chain game investment plan

This article comes fromGamesBeat, original author: Dean Takahashi

Odaily Translator |

This article comes from

, original author: Dean TakahashiOdaily Translator |。

Binance Smart Chain (BSC) and Animoca Brands have partnered to launch a $200 million investment program to accelerate and incubate early-stage crypto gaming startups. Its goal is to significantly increase the mainstream adoption of blockchain technology.

The new investment program will support the GameFi (Decentralized Game Finance) project. Blockchain games, such as those using cryptocurrencies or NFTs, have taken off this year as the cryptocurrency and gaming craze has crossed over. This boom has helped Animoca Brands raise multiple rounds of funding, including the most recent

Completed $65 million financing at a valuation of $2.2 billion

NFTs leverage the transparency and security of blockchain digital ledgers to uniquely identify in-game digital items that can be sold at higher prices as limited-edition collectibles. But cryptocurrencies are still complicated for many people because special secure digital wallets are required for tasks like exchanging currencies.

This reduces the acceptance of blockchain in mainstream circles. The game helps reach a more mainstream audience as it has experienced a boom during the coronavirus pandemic. But traditional gaming companies have been slow to adopt blockchain and introduce it to the larger gaming mass market, due in part to environmental concerns, regulatory concerns, a plethora of scams and player resistance.

Ultimately, the goal of the new initiative is to build the next generation of scalable blockchains and enable 1 billion new users to join the cryptocurrency space.

Gwendolyn Regina, investment director at the BSC Accelerator Fund, said in a statement, “Gaming is one of the powerful pillars of the Web 2.0, reaching billions of users. Its large-scale real-world use cases make it the key to cryptocurrency mass adoption.” One of our core focus areas, bringing retail consumers into the Web 3 world."

Yat Siu, executive chairman of Animoca Brands, said the investment program has the potential to bring blockchain into the mainstream.

BSC and Animoca Brands will help early-stage GameFi projects that need funding to develop their products, increase their presence in the decentralized finance gaming space, and grow in the Play-to-Earn blockchain and open metaverse industries.

According to Yat Siu, "Early GameFi projects currently need funding to build a runway to build their products. They need support to increase their industry expertise in open world games, and they need networking opportunities to develop their products in blockchain games and open metaverses." to achieve growth.”

BSC is taking $100 million from its $1 billion Growth Fund, an accelerator arm leading DeFi, NFT, and GameFi infrastructure platforms, to fund a new $200 million investment program. Another $100 million came from Animoca Brands, a Hong Kong-based company that promotes digital property rights through NFTs and games.

With virtual properties like The Sandbox, Animoca Brands aims to build an open metaverse, accelerate and incubate early-stage crypto gaming startups based on Binance Smart Chain.

Regina said, “Through co-investment, BSC-based projects will have the opportunity to gain insights and expertise from gaming giants such as Animoca Brands, while also having the opportunity to collaborate with blockchain experts from the BSC community. We look forward to working with the GameFi project Collaborate to build the next generation of scalable blockchains and bring the next billion new users into the crypto space."

In October, BSC launched a $1 billion Growth Fund to drive mass adoption of cryptocurrencies and blockchain by backing projects that will help bring the next billion users into the space over the next two years.

Animoca Brands' blockchain investment and partner landscape consists of more than 100 of the most promising NFT-related companies and projects, including Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Bitski, Harmony, Alien Worlds, Star Atlas. Its subsidiaries include The Sandbox, Blowfish Studios, Quidd, Gamee, nWay, Bondly, Lympo, and more.