Binance Smart Chain and Animoca Brands Support GameFi Startups

Brief:

  • Binance and Animoca Brands will create a blockchain incubator for GameFi startups
  • The parties divided the investments equally – by million dollars
  • Investment Fund will help developers implement a reliable blockchain

Binance Smart Chain and Animoca Brands announced the creation of a new investment fund GameFi with a turnover of 200 million. The money will go to startups developing games on the blockchain. The goal of companies is to significantly increase the mass adoption of blockchain technology.

What is GameFi

GameFi – games based on the principles of Play-to-Earn (“play to earn”). They replaced the outdated approaches to the “Play-to-Win” principle.

The Play-to-Earn model empowers players to become co-creators of game content , and not just its consumers. To make money in such games, special tokens are used, they can be bought or sold on exchanges and converted into fiat currency.

It is obvious that Play-to-Earn games need a reliable blockchain. And not just for fast payments. The blockchain protects your ownership of assets in GameFi games, ensures that transactions are safe and fair.

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GameFi as an important element of the metaverse

According to many experts, GameFi will become one of the key elements of the metaverse – a virtual world that connects the world of entertainment and business.

Many people spend hours playing popular games in virtual worlds. Such a digital world will allow you to meet new people, transfer money, be creative and “pump” your avatar. 65371

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