Binance Smart Chain’s $1B Growth Program, the accelerator arm of the DeFi, NFT and GameFi infrastructure platform, launched a $200m investment program with Animoca Brands, the Hong Kong-based company driving digital property rights via NFTs and gaming to build the open metaverse.
The investment program will accelerate and incubate early crypto gaming startups that are building on Binance Smart Chain (BSC).
BSC $1B Growth Program and Animoca Brands are co-investing up to $100m each, which will be utilized to accelerate shortlisted game projects in the multi-billion dollar crypto niche of GameFi.
A major name in blockchain gaming and the open metaverse, Animoca Brands operates subsidiaries including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Bondly, Lympo and various others. It has a large portfolio of blockchain investments and partnerships, including investments in over 100 of the most promising NFT-related companies and projects such as Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Bitski, Harmony, Alien Worlds, and Star Atlas.
Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. Designed to run in parallel with Binance Chain, it retains the former’s fast execution times and low transaction fees while adding Smart Contracts functionality to support compatible dApps.
BSC currently bolsters an ecosystem of crypto games including RPGs, strategy-battle arenas, sports, digital entertainment, adventure story based, logic, creative, and social games. The majority of BSC based gaming projects have developed NFT marketplaces and play-to-earn models with fungible tokens and/or NFT rewards. These GameFi projects have the potential to emerge as metaverses with their own inbuilt economy.