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

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.

Read more: Binance Dedicates Another $1B to Smart Chain Project

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.