Animoca Brands And BSC Launch $200M Fund For GameFi Projects

Animoca Brands and BSC or the Binance Smart chain, launch a $200 million fund that will be used for GameFi projects and now all BSC-based projects will get a chance to gain more insight so let’s read more today in our latest Binance news.

Animoca Brands and Binance Smart Chains are launching a $200 million investment program to launch an early crypto-focused gaming project building on BSC. Both entities announced that they are co-investing up to 0 million each to support game projects in the GameFi sector.
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One of the largest blockchain ecosystems, BSC will be investigating from the $1 billion accelerator arm for Defi, NFT, and GameFi. The fund was set earlier this year to expand the BSC ecosystem services and to drive mainstream adoption across the fintech sector.

Animoca Brands is a huge player in the blockchain gaming space as well as in the metaverse that works on providing property rights via NFTs and gaming. The company invested in plenty of NFT-related projects including OpenSea, Bitski, Harmony, and Axie Infinity. BSC Investment Director Gwendolyn Regina said:

“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.”

GameFi is a mix of gaming and Defi and became one of the biggest buzzwords in the crypto space alongside the concept of the metaverse. GameFi refers to the financialization of video gaming and operates under a play-to-earn model rather than play-to-win. A huge number of companies and investment firms were investing in GameFi over the past few months including Huobi, FTX, Sancor Capital, Solana Ventures, and others.

Binance Smart Chain revealed a real-time BNB burning mechanism after it activated BEP-95 which integrates a real-time mechanism into its tokenomics structure so from now on, a fixed ratio of gas fees collected by BSC validators will be burned into each block. BSC announced the new mechanism on Twitter and its burn ratio, adjustable by governance sits at 10% right now.BEP-95 was introduced on October 22^nd with the goal of speeding up Binance’s burn process and aiming to further decentralize the network. Binance’s real-time burn will work alongside the exchange’s scheduled burn events and it will remain in effect after the scheduled burns reached their supply target.