Binance Smart Chain, Animoca Brands launch $200 million blockchain gaming fund
December 6, 2021, 6:26AM EST
1 min read
Binance Smart Chain (BSC) and non-fungible token (NFT) gaming outfit Animoca Brands have partnered to launch a $200 million fund. It will be geared towards early-stage backing of blockchain gaming startups, according to an announcement on Monday.
Both companies will invest $100 million each in the investment program that will target short-listed developers building blockchain-based games on the BSC network. For BSC, the investment is coming from its $1 billion accelerator Growth Program launched in October.
Monday’s announcement is yet another example of the growing interest in blockchain games and NFTs under the emerging “GameFi” umbrella. Animoca Brands has been ubiquitous in the space with the company involved in several recent fundraises for blockchain gaming startups.
In November alone, Animoca participated in multimillion-dollar funding rounds for the likes of Upland, Roll, Avocado Guild, and The Sandbox.
In 2021, investment and financing in the crypto industry has constantly set new records. One of 7 O'Clock Capital’s numerous investment projects has an ROI of 10,733%. According to Chain Broker data, 7 O'Clock Capital is at the top of the list of funds