Hong Kong-based gaming software company Animoca Brands is launching $200 million in funding for GameFi projects, a combination of gaming and DeFi.
Animoca Brands, which partnered with Binance Smart Chain (BSC) for the GameFi investment fund, said in a statement that the fund will invest in early crypto-focused game projects built on BSC.
The companies, each of which will invest $100 million, are targeting shortlisted developers who develop blockchain-based games on the BSC network.
Gwendolyn Regina, BSC investment director, said in a statement:
“With this joint investment, projects built on BSC will gain insight and expertise from leading gaming giants like Animoca Brands, as well as collaboration opportunities with blockchain experts from the BSC Community.”
Animoca Brands, which owns the majority stake in The Sandbox, the largest Metaverse game, has also invested in major NFT-related projects such as Axie Infinity, OpenSea, Bitski, Harmony.
A number of large crypto companies and investment firms, such as Huobi Crypto Exchange, Solana Ventures, FTX, Sanctor Capital, are also investing in GameFi, one of the most fashionable areas in the crypto industry.
*Not investment advice.