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BSC & Animonica Announces Joint Investment Of $100 Mln For GameFi Industry.

BSC (Binance Smart Chain) and Animoca Brands have announced the establishment of a $200 million investment initiative to support early cryptocurrency-focused gaming ventures built on BSC. Today on December 6, BSC and Animonica announced a joint investment of up to $100 million in gaming projects in the GameFi industry.

Through its accelerator arm, BSC, one of the largest blockchain networks, will finance $1 billion in decentralised finance (DeFi), non fungible tokens (NFT), and GameFi. The fund was established earlier this year with the goal of expanding BSC ecosystem services and driving mainstream usage throughout the fintech sector.

Animoca Brands is a prominent participant in blockchain gaming and the open metaverse, focusing on the provision of property rights through NFTs and gaming. The company has made significant investments in NFT-related initiatives like as Axie Infinity, OpenSea, Bitski, Harmony, and others.

GameFi, a hybrid of gaming and DeFi, has lately become one of the most popular terms in the bitcoin sector, alongside the notion of the metaverse. GameFi refers to the financialization of video gaming and operates on a play-to-earn approach rather than a win-to-win model.

Several big crypto startups and investment firms, including Huobi crypto exchange, Solana Ventures, FTX, Sanctor Capital, and others, have invested in GameFi in recent months.

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