Binance Smart Chain Seals $200M Partnership Deal with Animoca Brands to Grow GameFi projects

December 6th came with the announcement that Animoca and Binance Smart Chain (BSC) are forging a $200-million-worth partnership aimed at incubating GameFi industry. From a $1-billion fund set up earlier this year BSC intends to take out 100 million for this partnership. The fund launched to ensure the extension of the BSC ecosystem. It is also focused on growing mainstream crypto adoption within the fintech industry. This billion-dollar fund will also cater to the advancement of decentralized finance (DeFi), non fungible tokens (NFT), and now GameFi.

Announcing our collaboration of a $200M Joint Investment Program with @animocabrands to accelerate GameFi projects on #BSC

Read more🔽https://t.co/SKzPNMGG2m — Binance Smart Chain (@BinanceChain) December 6, 2021

What Does BSC Benefit From Partnering With Animoca Brands?

Over time, BSC has managed to keep many crypto-gaming projects like CryptoMines and Metamon on its blockchain because of its cheaper transactions. Now, partnering with Animoca Brands will propel things in an even more beneficial trajectory for BSC. This partnership will offer BSC-founded gaming projects a great opportunity to get insights offered by Animoca Brands. The company is a revered player in the open meterverse and blockchain gaming industry. Animoca Brands focuses on issuing property rights through gaming and NFTs. Among it’s biggest investments in NFT-based projects include OpenSea, Axie Infinity, Harmony and Bitski, to name but a few. In the words of Gwendolyn Regina, BSC’s investment director:

"With this 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.”

Besides the metaverse, GameFi and DeFi are some of the most important cryptocurrency projects globally. GameFi comes from a blend of gaming and DeFi. The crypto space has been buzzing with the GameFi phenomenon. The ability to financialize video gaming using the play-to-earn model is a concept many are buying into.