Binance Smart Chain and Animoca Brands launch $200 million investment program

Binance Smart Chain and Animoca Brands have partnered to support blockchain and crypto gaming.
Binance Smart Chain Animoca Brands
Blockchain giants have partnered to fund new projects.

Leading blockchain platforms Binance Smart Chain and Animoca Brands have launched an investment program to support blockchain games. The 200 million dollar investment program is aimed to accelerate the development of blockchain and NFT games and strengthen the blockchain trend.

The new investment program will support GameFi (decentralized game finance) projects. We’ve heard a lot about blockchain games, the play-to-earn model, and NFTs this year. During this period of rapid growth, Animoca Brands was the subject of investment news and recently received an investment of 65 million with a valuation of $2.2 billion.

NFTs are uniquely tradable and use blockchain technologies during these transactions. Digital wallets with special security should be used during money transfers. This slows the spread of blockchain technologies among the mainstream. People think that the transactions they will make on the blockchain can be complex.

During the pandemic, the blockchain and game industry showed a rapid rise. In this process, blockchain technologies have passed many tests such as security, complexity, fraud, and legal regulations. This environment of relative uncertainty has slowed mainstream gaming companies’ rapid adoption of the blockchain. The process of acceptance of the new technology among the players was also effective in this slowness.

However, blockchain and play-to-earn games rose rapidly despite all these question marks, and the challenges were overcome one by one. Binance and Animoca Brands set out to support this growth. The ultimate goal is to support blockchain games and reach one billion users.

Gwendolyn Regina, BSC Accelerator Fund investment director, said in a statement:

“Gaming is one of the strong pillars of Web 2.0, reaching billions of users. Its large-scale real-life use case makes it one of the core focus areas for crypto’s mass adoption to onboard retail consumers into the Web 3 world.”

Yat Siu, chairman of the board of Animoca, said that the $200 million investment program has the potential to bring blockchain technology into the industry mainstream. Yat Siu, chairman of the board of Animoca, added:

“Early GameFi projects currently require funding for a runway to build their products. They need support to increase their industry expertise for open-world gameplay. Also for networking opportunities to establish growth in the blockchain gaming and open metaverse.”

Binance Smart Chain covers $100 million of the $200 million investment fund, while Animoca Brands undertakes the other $100 million. It is possible to say that both organizations take leading roles in the world of NFT and blockchain gaming.

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