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Binance Smart Chain and Animoca Brands Set Up $200M Program for Blockchain Gaming
The two companies will contribute up to $100 million each to invest in early-stage projects.
Binance Smart Chain (BSC) and Animoca Brands have launched a $200 million program to invest in blockchain gaming projects built on BSC, the companies said in a press release on Monday.
- BSC will be investing through its $1 Billion Growth Fund. In October, Binance had committed $1 billion for BSC.
- The two companies will contribute up to $100 million each to invest in early-stage projects, the release said.
- Animoca Brands is an investor in non-fungible tokens (NFTs) and metaverse projects; it has a majority stake in metaverse game The Sandbox, and has invested in Axie Infinity, as well as NFT trading platform OpenSea. It was valued at $2.2 billion after a $65 million funding round in October.
- Earlier in October, Binance announced it plans to invest $1 billion to accelerate the development of its Smart Chain project, the exchange’s alternative to Ethereum where developers can build applications.
Read more: Binance Dedicates Another $1B to Smart Chain Project
STORY CONTINUES BELOW
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UPDATE (Dec. 6, 12:30 UTC): Updates reference to Binance Smart Chain in headline and story. Adds reference to Binance’s commitment in first paragraph.
Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
