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

BSC and Animonica announced on December 6 that they are together investing up to $ 100 million each to support gaming projects in the GameFi segment.

BSC, one of the largest blockchain systems, will invest from its $ 1 billion accelerator in Decentralized Finance (DeFi), Non-Financial Tokens (NFT) and GameFi. The fund was established earlier this year to expand services to the BSC ecosystem and stimulate massive adoption in the fintech sector.

Animoca Brands is a major player in blockchain gaming, and the open meta-verse provides ownership through NFTs and games. The company has invested in major NFT-related projects including Axie Infinity, OpenSea, Bitski, Harmony and others.

said Gwendolyn Regina, BSC Investment Director.

RELATED: Animoca Brands raises $ 5 million for NFT Marketplace, Quidd

GameFi, a combination of games and DeFi, has recently become one of the buzzwords in the cryptocurrency industry along with the concept of metaverse. GameFi refers to video game financing and operates on a “game to make money” model, not a “game to win” model.

A number of large crypto companies and investment companies have invested in GameFi in the last two months, including Huobi crypto Exchange, Solana Ventures, FTX, Sanctor Capital and others.

Source: CoinTelegraph