Binance and Animoca launch $200 million fund for GameFi
Animoca Brands and Binance Smart Chain have announced a new collaborative investment program this month. Comprised of $200 million in capital, the mission for it is clear: to accelerate and incubate early-stage blockchain game projects.
Longer-term? In a similar fashion to HASHED fund recently – increase the adoption of blockchain technology in the mainstream community.
For Binance Smart Chain, partnering up with Animoca offers new developers the chance to easily and rapidly incubate their projects on top of BSC. According to Gwendolyn Regina, investment director at BSC’s Accelerator Fund, building on Smart Chain opens the door to longer-term collaboration amongst other projects too.
“With the co-investment, projects building on BSC will get the opportunity to gain insights and expertise from leading gaming giants such as Animoca Brands, along with collaboration opportunities with blockchain experts from the BSC Community.”
Animoca Brands and Binance Smart Chain: taking blockchain mainstream
The landscape for blockchain and NFT projects has never been better placed to break into the mainstream. In 2021, we have seen a growing number of new projects, ecosystems and games. These projects are also matched by an increasing number of venture funds entering the ecosystem.
Animoca Brands, in particular, has been a giver and receiver of investment optimism; having raised $65 million at a $2.2 billion valuation in recent time.
Binance, meanwhile, has been putting serious capital behind its drive to mass adoption. In October, it founded a $1 billion Growth Fund to do just that; with the aim of bringing a further billion users into the crypto and blockchain space in the next two years.