Binance Smart Chain and Animoca Brands Set Up $200M Program for Blockchain Gaming

The two companies will contribute up to $100 million each to invest in early-stage projects.

AccessTimeIconDec 6, 2021 at 9:10 a.m. UTC
Updated Dec 6, 2021 at 4:28 p.m. UTC

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Binance Smart Chain (BSC) and Animoca Brands have launched a $200 million program to invest in blockchain gaming projects built on BSC, the companies said in a press release on Monday.

  • BSC will be investing through its $1 Billion Growth Fund. In October, Binance had committed $1 billion for BSC.
  • The two companies will contribute up to $100 million each to invest in early-stage projects, the release said.
  • Animoca Brands is an investor in non-fungible tokens (NFTs) and metaverse projects; it has a majority stake in metaverse game The Sandbox, and has invested in Axie Infinity, as well as NFT trading platform OpenSea. It was valued at $2.2 billion after a $65 million funding round in October.
  • Earlier in October, Binance announced it plans to invest $1 billion to accelerate the development of its Smart Chain project, the exchange’s alternative to Ethereum where developers can build applications.

UPDATE (Dec. 6, 12:30 UTC): Updates reference to Binance Smart Chain in headline and story. Adds reference to Binance’s commitment in first paragraph.

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Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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