Binance Smart Chain, Animoca Brands launch $200 million blockchain gaming fund

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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.

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May 5, 2022, 3:17PM UTC
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