Binance Partners with Animoca Brands to Introduce $200 Million Fund

Binance Smart Chain announced its collaboration with Animoca Brands to set up a $200 million fund to facilitate blockchain gaming projects that are building on BSC today. According to the details, Binance Smart Chain’s $1 billion growth program and Animoca Brands are co-investing up to $100 million each.

The funds will be used to support shortlisted crypto gaming projects. Known as one of the leading players in blockchain gaming, Animoca Brands has several subsidiaries. Some of the prominent subsidiaries of Animoca Brands include The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Bondly and Lympo.

Additionally, the company has a broad portfolio of blockchain collaborations and investments. Animoca Brands invested in more than 100 of the most promising NFT-related companies, including Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Bitski, Harmony, Alien Worlds and Star Atlas.

The adoption of the Binance Smart Chain has increased enormously in the last few months. Several startups around the world are developing their projects on BSC. With the $200 million fund, Binance aims to enhance the global adoption of BSC.

“Gaming is one of the strong pillars of Web 2.0, reaching billions of users. Its large-scale real-life use case makes it one of the core focus areas for crypto’s mass adoption to onboard retail consumers into the Web 3.0 world,” said Gwendolyn Regina, Investment Director at Binance Smart Chain. “With this co-investment, project 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."

Binance Smart Chain

With more than 2.1 million daily active users, Binance Smart Chain is one of the largest blockchain ecosystems. According to Binance, a large percentage of BSC-based gaming projects have established NFT marketplaces and play-to-earn models with fungible tokens and/or NFT rewards.

“This investment program will provide the necessities to the projects that we think have the potential to take blockchain mainstream,” said Yat Siu, the Executive Chairman and Co-Founder of Animoca Brands.