BSC Launches $200 Million Fund to Support GameFi Projects
Binance Smart Chain (BSC) is partnering with blockchain game creator Animoca Brands to launch an incubator for gaming projects at BSC. Both companies will invest $ 100 million in the fund and will support the novelties of the blockchain gaming industry.
Binance, the owner of the BSC blockchain, will additionally invest in GameFi, DeFi and NFT projects from a $ 1 billion fund created in 2021. Its mission is to facilitate the expansion of the BSC ecosystem and the massive adoption of blockchain across the entire fintech sector.
Binance partner Animoca Brands is the creator of the popular gaming project Axie Infinity, which became the number one game in 2021. The assistance provided through partnership agreements will allow better development of projects at BSC.
As a reminder, GameFi is a new trend in the cryptosphere. These are projects that have signs of games and DeFi, allowing you to play and earn tokens, which can then be exchanged for real currency.
In the last couple of months, many large investors have invested in similar projects. Among them are Huobi cryptocurrency exchange, blockchain developer Solana, FTX companies, Sanctor Capital and others. As a result, the NFT industry generated more than $ 10 billion in profits in Q3 2021.
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