Binance Teams with Animoca Brands for $200 Million GameFi Investment

The gamefi industry has seen a massive influx of cash that lends to bullish sentiments on the industry.

By
Kyle Heise
on
December 3, 2021
Category:
Blockchain News

Animoca to Leverage Binance Smart Chain

Animoca Brands and Binance have joined for a $200 million investment into blockchain gaming. The investment should accelerate the development of Animoca’s blockchain interoperability and help the company’s crypto understanding.

The two companies, as first reported by Dean Takashi at Venture Beat on Dec. 2nd, will split the $200 million investment, with half coming from Binance’s recent $1 Billion Growth Fund and the other half straight from Animoca. The partnership will see Animoca work tightly with Binance Smart Chain (BSC) to help incubate and boost new gamefi ventures on one of the largest chains in the world. 

“Early GameFi projects currently require funding for a runway to build their products,” explained Animoca executive chairman Yat Siu. “They need support to increase their industry expertise for open-world gameplay. Also for networking opportunities to establish growth in the blockchain gaming and open metaverse.”

The latest endorsement and investment to Animoca comes on the heels of a recent $2.2 Billion valuation in October. The move deftly aligns Animoca with BSC, which has the largest gamefi presence in all of crypto. Blockchain gaming is quickly building a massive following, but as most gamers know: good games take time. 

Source
“With the co-investment, projects building on BSC will get the opportunity to gain insights and expertise from leading gaming giants such as Animoca Brands, along with collaboration opportunities with blockchain experts from the BSC Community,” said Gwendolyn Regina, investment director at BSC’s Accelerator Fund. “We look forward to working together with GameFi projects to build next-gen scalable blockchains and onboard the next one billion new users into crypto.”

The next evolution of blockchain gaming is right around the corner. The travails of early users and games during 2021 will likely be laughable at this time come 2022. The industry is positioning itself for major breakthroughs and potential mainstream adoption next year. The funds are there, many developers appear to be sinking their teeth in, and users are waiting… it’s only a matter of time. 


What is Animoca Brands

Animoca Brands is a leader in the field of digital entertainment, specializing in blockchain, gamification, and artificial intelligence technologies to develop and publish a broad portfolio of products. The company is based in Hong Kong, the United States, South Korea, Finland, Argentina, and the Czech Republic. Animoca’s subsidiaries include The Sandbox, Quidd, Gamee, and nWay. The company has also utilized the intellectual property of Formula 1®, Marvel, WWE, Garfield, Snoopy, and more.

Where to find Animoca Brands

Website | Twitter | Medium | LinkedIn 


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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in ETH, CRO, CAKE, and BSC meme projects.

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