Binance’s venture capital arm, Binance Labs, was noted for its co-leadership role in the seed funding round of cryptocurrency project Fusionist. The exchange has taken an important step towards supporting the development of Web3 game projects. Here are the details…
The new investment of the Binance exchange has been announced
FunPlus, one of the leading players of the Web2 gaming industry, also participated in the funding round of 6.6 million dollars. This collaboration demonstrates Binance Labs’ commitment to fostering a thriving Web3 gaming ecosystem and supporting promising early-stage startups. Fusionist, a Web3 gaming company, presents an ambitious sci-fi game trilogy that combines elements of management simulation, tactical RPG and strategic 4X genres. The games take place in the 2800s, when Earth became largely uninhabitable. Players take on the role of Commanders who explore the universe to seek home to sustain humanity in the galaxy.
Focusing on providing an extraordinary gaming experience, Fusionist combines innovative multiple game mechanics. It aims to create a scaled Web3 playground by integrating NFTs. Initially, the games will launch on Binance’s native Blockchain, BNB Chain, before spreading to other Layer-1 networks. Fusionist CEO Ike T expressed his excitement about the partnership with Binance Labs, saying:
We are thrilled to have Binance Labs join us as a strategic investor and partner. With the support of one of the industry leaders, we can raise the bar even higher for what Fusionist can achieve in the future.
Fusionist’s game is on Steam
Fusionist managed to build a community of 800,000 members in just five months. It has already launched three NFT series. The company is currently beta testing the popular video game distribution platform Steam. Binance Labs hopes Fusionist will continue to deliver engaging gameplay while fostering an interactive and dedicated user base. The new seed fund will enable Fusionist to accelerate game development. It will also allow it to develop the Endurance Mainnet ecosystem (to be introduced in January 2023). Finally, he will recruit top gaming and Web3 professionals, enabling him to expand his team.
With a valuation of over $9 billion, Binance Labs is quite large. cryptocoin.com As we have also announced, it has a wide portfolio covering 200 projects from more than 25 countries in six continents. The company has achieved a significant return on its investments, with a 10x rate of return. The fact that 50 of Binance Labs’ portfolio companies have exited incubation programs highlights the success and impact of its support for early-stage startups. As a result, Binance Labs’ co-leadership role in Fusionist’s seed funding round reflects increased interest and investment in Web3 gaming projects.
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