Binance Smart Chain (BSC) and Animoca Brands are launching a $ 200 million investment program to incubate early stages of crypto-focused gaming projects.

BSC and Animonica announced on Monday that they are investing up to $ 100 million each to support gaming projects in the GameFi segment.

BSC, one of the largest blockchain systems, will invest from the Decentralized Finance Accelerator (DeFi), Non-Fungible Token (NFT) and GameFi for $ 1 billion. The fund was created earlier this year to expand the services of the BSC ecosystem and to spur massive adoption in the fintech sector.

Animoca Brands is a major player in blockchain and open metadata gaming working to ensure a level playing field for NFTs and games. The company has invested in major NFT-related projects including Axie Infinity, OpenSea, Bitski, Harmony and others.

“Through this co-investment, BSC projects will gain the knowledge and experience from leading gaming giants such as Animoca Brands, as well as opportunities to collaborate with blockchain experts from the BSC community,” said BSC Investment Director Gwendoline Regina. …

RELATED: Animoca Brands Raises $ 5 Million For NFT Marketplace, KOID

GameFi, a fusion of gaming and DeFi, has recently become one of the biggest buzzwords in the crypto industry alongside the concept of the metaverse. GameFi stands for video game funding and operates on a play-to-earn model rather than pay-to-win.

Several major cryptocurrency and investment firms have invested in GameFi over the past two months, including Huobi Crypto Exchange, Solana Ventures, FTX, and Sanctor Capital.

Source: CoinTelegraph

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