The growing success of blockchain gaming platforms, such as The SandBox, based on the Ethereum blockchain (ETH) is giving ideas to other developers. As such, Binance is enlisting the services of a crypto gaming expert to promote its famous Binance Smart Chain (BSC).
BSC to take on blockchain gaming
According to a December 6 announcement, BSC and Animoca Brands have allocated $100 million each to launch an investment program dedicated to crypto gaming. This makes it a $200 million program that will be dedicated to BSC-based crypto gaming projects. It will incubate and accelerate the emergence of startups that want to use BSC for their blockchain gaming projects.
For Binance, the investment follows its ambition to develop its blockchain, BSC, for which it released $1 billion last October.
BSC’s CIO (chief investment officer) Gwendolyn Regina is aware of the opportunities presented by this partnership:
“With this co-investment, projects relying on BSC will have the opportunity to gain knowledge and expertise from leading gaming giants such as Animoca Brands, as well as opportunities to collaborate with blockchain experts from the BSC community.”
BSC gets a great partner with Animoca Brands
If you’re interested in crypto gaming, you’re bound to have heard of Animoca Brands. Indeed, it is one of those new venture capital funds that decided to specialize in blockchain gaming and metavers.
Since its inception in 2015, Animoca Brands has become a leader in blockchain-based entertainment. It has since invested in projects that have been very successful. As a non-exhaustive list, it participated in the fundraising of The SandBox, becoming the majority shareholder in the process. In addition, Animoca has invested in NFT projects that have since become major players in the market, such as OpenSea or Axie Infinity.
Furthermore, Animoca Brands has recently diversified its investments. It has taken part in the financing of XDEFI. However, even if this project is not a blockchain game, it offers a related tool: a browser wallet. Thus, Animoca, with its expertise in the crypto gaming environment, will be an undeniable asset for BSC.
Binance’s investment to promote its blockchain in the crypto gaming environment makes sense. In fact, Solana (SOL) has already entered this field with DeFi Land, a play-to-earn game hosted on the blockchain of the same name.
