Binance Good Chain and Animoca Manufacturers Launch $ 200 Million Blockchain Recreation Funding Program – VentureBeat

Join GamesBeat and Facebook Gaming as leading gaming companies at their second annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 from January 25-27, 2022. Find out more about the event.

Binance Smart Chain and Animoca Brands have teamed up to launch a $ 200 million investment program to accelerate and incubate early crypto gaming startups. The aim is to significantly increase the mainstream acceptance of blockchain technology.

The new investment program will support GameFi projects (decentralized game financing). Blockchain games, such as those using cryptocurrency or non-fungible tokens (NFTs), have gained momentum this year as the crypto and gaming booms crossed. That boom helped Animoca Brands raise multiple rounds, including a recent $ 65 million round valued at $ 2.2 billion.

NFTs leverage the transparency and security of the blockchain’s digital ledger to uniquely identify in-game digital items that can be sold as limited-edition collectibles at higher prices. But crypto can still be complicated as you need dedicated secure digital wallets for tasks like exchanging currencies.

That has slowed the adoption of the blockchain in mainstream circles. Gaming is helping to reach more mainstream users as it experienced a boom during the pandemic. But traditional gaming companies have been slow to adopt blockchain – in part out of environmental concerns, regulatory fears, numerous scams, and player opposition – in ways that could bring about a larger gaming mass market.

case

The 2nd annual GamesBeat and Facebook Gaming Summit and GamesBeat: Into the Metaverse 2

learn more

Above: Animoca Brands acquired sandbox developer Pixowl for $ 4.875 million.

Image source: Animoca Brands

Ultimately, the goal is to build next-generation, scalable blockchains and add a billion new users to the cryptocurrency.

“Gaming is one of the strong pillars of Web 2.0, reaching billions of users,” said Gwendolyn Regina, investment director at BSC’s Accelerator Fund, in a statement. “Its large-scale use case in real life makes it one of the core areas for the mass adoption of crypto to bring retail consumers into the Web 3 world.”

Animoca’s chief executive officer Yat Siu said in a statement that the investment program has the potential to bring blockchain into the mainstream.

Binance Smart Chain (BSC) and Animoca Brands will help early GameFi projects that need funding to develop their products, grow their presence in the decentralized financial gaming sector, and in the play-to-earn blockchain and open metaverse industries to grow.

“Early GameFi projects currently require runway funding to develop their products,” Siu said. β€œThey need support to expand their industry expertise in open world gameplay. Also for networking opportunities to establish growth in blockchain gaming and open metaverse. “

BSC is funding the new $ 200 million investment program with $ 100 million from its $ 1 billion growth fund, the accelerator arm of the leading DeFi, NFT and GameFi infrastructure platform. The other $ 100 million comes from Animoca Brands, the Hong Kong-based company that drives digital property rights across NFTs and games.

The NFT game F1 Delta Time from Animoca Brands.

Above: Animoca Brands’ F1 Delta Time NFT game.

Image source: Animoca Brands

With properties like The Sandbox, Animoca’s goal is to build the open metaverse, accelerate and incubate early crypto gaming startups that are built on Binance Smart Chain.

“The co-investment gives projects that build on BSC the opportunity to gain insights and expertise from leading gaming giants such as Animoca Brands, as well as opportunities to collaborate with blockchain experts from the BSC community,” said Regina. “We look forward to working with GameFi projects to build next-generation scalable blockchains and engage the next billion new users in crypto.”

In October, BSC launched the $ 1 billion growth fund to drive the mass adoption of crypto and blockchain by supporting projects that can help bring the next billion users into space over the next two years.

Animoca Brands’ portfolio of blockchain investments and partnerships consists of over 100 of the most promising NFT-related companies and projects, including Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Bitski, Harmony, Alien Worlds and Star Atlas. Subsidiaries include The Sandbox, Blowfish Studios, Quidd, Gamee, nWay, Bondly, Lympo, and more.

Above: Binance Smart Chain and Animoca Brands have teamed up.

Image credit: Binance

BSC is one of the largest blockchain ecosystems with over 2.1 million daily active addresses in the last few weeks. Games and play-to-ear opportunities on BSC saw significant traffic and unique growth in wallet interaction in 2021.

GameFi projects on BSC have increased their users tenfold with the support of Binance Smart Chain and increased the volume by 200%. Global digital asset exchanges have listed some of these games.

BSC currently supports an ecosystem of high simulation games including RPGs, strategy battle arenas, sports, digital entertainment, adventure stories, logic creatives and socials. Most of these gaming projects have developed NFT marketplaces and play-to-earn (P2E) models with NFT reflection rewards. In addition, these GameFi projects have the potential to develop as a metaverse, according to the companies.

GamesBeat

GamesBeat’s credo when it comes to the games industry is “where passion meets business”. What does that mean? We want to tell you how important the news is to you – not just as a decision maker in a game studio, but also as a game fan. Whether you’re reading our articles, listening to our podcasts, or watching our videos, GamesBeat will help you learn and engage with the industry.

How are you going to do that Membership includes access to:

  • Newsletters like DeanBeat
  • The wonderful, instructive and funny speakers at our events
  • Networking opportunities
  • Special interviews, chats and “Open Office” events only for members with employees of GamesBeat
  • Chat with community members, GamesBeat staff and other guests on our Discord
  • And maybe even a fun prize or two
  • Presentation to like-minded people

become a member


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

High Cryptocurrency Costs At present: Dogecoin, Cardano Falling;  Binance Coin wins 4% – Financial Occasions Binance

High Cryptocurrency Costs At present: Dogecoin, Cardano Falling; Binance Coin wins 4% – Financial Occasions

New Delhi: Major cryptocurrencies traded almost unchanged as the digital token cart was missing...

By wpadminsonic164
β€’
Binance will checklist Spell Token (SPELL) and TerraUSD (UST) – Techstory Binance

Binance will checklist Spell Token (SPELL) and TerraUSD (UST) – Techstory

Binance, the world's largest bitcoin exchange, has added two new altcoins to its platform....

By wpadminsonic164
β€’
StarSharks, the Shark Metaverse supported by Binance, is launching its first turn-based card sport: StarSharks.Warriors – Crypto Mode Binance

StarSharks, the Shark Metaverse supported by Binance, is launching its first turn-based card sport: StarSharks.Warriors – Crypto Mode

Singapore, Singapore, January 5, 2022 StarSharks - an NFT GameFi ecosystem based on the...

By wpadminsonic164
β€’
KikSwap.com is not only one other meme token, a cross-chain, multi-staking and spot buying and selling platform on the Binance good chain – Monetary Publish Binance

KikSwap.com is not only one other meme token, a cross-chain, multi-staking and spot buying and selling platform on the Binance good chain – Monetary Publish

Links to the breadcrumb trail GlobeNewswire As a cross-chain meme token, $ KIK launches...

By wpadminsonic164
β€’
Binance Turns into Official Sponsor of the Widespread 2022 Nigerian Idol Season 7 Musical Competitors – bitcoinke.io Binance

Binance Turns into Official Sponsor of the Widespread 2022 Nigerian Idol Season 7 Musical Competitors – bitcoinke.io

Binance has become the exclusive crypto and blockchain sponsor of the 7th season of...

By wpadminsonic164
β€’
Binance Coin Merchants Can Take These Steps To Take Benefit Of The Rally That Is Coming – AMBCrypto Information Binance

Binance Coin Merchants Can Take These Steps To Take Benefit Of The Rally That Is Coming – AMBCrypto Information

Disclaimer: The results of the following analysis are the sole opinions of the author...

By wpadminsonic164
β€’
Binance CEO Internet Price Hits $96B, Jack Dorsey Launches BTC Protection Fund, Invoice Miller Dives Into Bitcoin: Hodler’s Digest, Might 9-15  January By Cointelegraph – Investing.com Binance

Binance CEO Internet Price Hits $96B, Jack Dorsey Launches BTC Protection Fund, Invoice Miller Dives Into Bitcoin: Hodler’s Digest, Might 9-15 January By Cointelegraph – Investing.com

Binance CEO Net Worth Hits $96 Billion, Jack Dorsey Launches BTC Defense Fund, Bill...

By wpadminsonic164
β€’
Binance companions with Thai billionaire for crypto trade within the nation – The Block Crypto Binance

Binance companions with Thai billionaire for crypto trade within the nation – The Block Crypto

display Binance has partnered with Gulf Innova Company β€” a wholly owned subsidiary of...

By wpadminsonic164
β€’

Latest Posts

Solana and Polkadot Rising A lot Quicker Than Ethereum: Report Ethereum

Solana and Polkadot Rising A lot Quicker Than Ethereum: Report

Solana and Polkadot are growing much faster than Ethereum, while Ethereum still has the...

By wpadminsonic164
β€’
BITCOIN CAN BE WORTH OVER $2M PER COIN IF BTC CAPTURES JUST 5% OF THE MARKET CAP ON THIS CHART!! Videos

BITCOIN CAN BE WORTH OVER $2M PER COIN IF BTC CAPTURES JUST 5% OF THE MARKET CAP ON THIS CHART!!

FTX - Trade w/ Zero Fees + Earn Free Crypto: http://ftx.cryptonewsalerts.net Referral Code: 17411850...

By wpadminsonic164
β€’
Bitcoin, Shiba Inu, Dogecoin Value Prediction 2022 – Analytics Perception Dogecoin

Bitcoin, Shiba Inu, Dogecoin Value Prediction 2022 – Analytics Perception

Check out some price predictions for popular digital currencies that are expected to outperform...

By wpadminsonic164
β€’
πŸ”΄ URGENT 🚨 Crypto Information At this time | Why Crypto Market Going Down At this time | Which Crypto To Make investments Videos

πŸ”΄ URGENT 🚨 Crypto Information At this time | Why Crypto Market Going Down At this time | Which Crypto To Make investments

URGENT Crypto News Today | Why Crypto Market Going Down Today | Which Crypto...

By wpadminsonic164
β€’
Dogecoin

Meme Coin Promoting: Why Shiba Inu, Dogecoin, and The Sandbox Are No Longer Obtainable As we speak – The Motley Idiot

What happened Today, a number of speculative meme tokens are experiencing increased selling pressure....

By wpadminsonic164
β€’
Oman Invitations Bids From Corporations Thinking about Creating Regulatory Framework for Digital Belongings Bitcoin

Oman Invitations Bids From Corporations Thinking about Creating Regulatory Framework for Digital Belongings

Authorities in the Middle Eastern state of Oman have asked specialized companies, interested in...

By wpadminsonic164
β€’
XRP, Decentraland, Dogecoin Value Evaluation: December 21 – AMBCrypto Information Dogecoin

XRP, Decentraland, Dogecoin Value Evaluation: December 21 – AMBCrypto Information

Bitcoin again found strong demand in the $ 45.6k range. Monday's lows and highs...

By wpadminsonic164
β€’
NEW BITCOIN PATTERN (vital replace)!! BITCOIN CRASH, BITCOIN PRICE PREDICTION, BITCOIN NEWS TODAY Videos

NEW BITCOIN PATTERN (vital replace)!! BITCOIN CRASH, BITCOIN PRICE PREDICTION, BITCOIN NEWS TODAY

NEW BITCOIN PATTERN (important update)!! BITCOIN CRASH, BITCOIN PRICE PREDICTION, BITCOIN NEWS TODAY Welcome...

By wpadminsonic164
β€’