Binance Smart Chain Partners With Animoca Brands in $200 Million Crypto Gaming Incubation Fund

Binance Smart Chain

Binance Smart Chain, one of the leading smart contract platforms in the blockchain market, has partnered with Animoca Brands, operator and investor of several NFT based games, to launch a joint $200 million gamefi (financialization of gaming) incubation program. The two institutions will invest $100 million each to fund and ease the development of new gaming experiences on top of the Binance Smart Chain.

Binance Smart Chain and Animoca Bet on Gamefi

Binance Smart Chain has a new tool to entice the development of new games on top of its platform. The acceleration and investing branch of the smart contract chain has partnered with Animoca Brands, one of the leading metaverse gaming firms, to establish a $200 million gaming incubation fund. Each one of the parties will put $100 million destined to fund projects focused on gaming on top of the Binance Smart Chain.

Establishing these projects from scratch is a difficult thing, according to Executive Chairman and Co-Founder of Animoca Brands Yat Siu, and requires an amalgamation of factors for building a successful project. On this, Siu stated:

Early Gamefi projects require funding to build their products, and need industry expertise for open-world gameplay and tokenomics, as well as networking opportunities to establish growth in the blockchain gaming and open metaverse.

Animoca Brands’ experience in building and operating projects like The Sandbox, a metaverse-based gaming experience, could help these newcomers to establish a foothold in the now crowded blockchain gaming market, according to Gwendolyn Regina, Investment Director at Binance Smart Chain.

Investment Firms Running to the Metaverse

Binance is just the one in a chain of projects that are putting serious money behind metaverse-based and crypto gaming initiatives. These $100 million will come from the $1 billion growth fund that the exchange launched earlier this year to incubate more projects on top of the BSC network.

There have been multiple companies and exchanges entering the metaverse business. One of them is Kucoin, an Asia-based exchange, which launched a $100 million metaverse fund to help young metaverse projects build their platforms. The whole metaverse sector has been vindicated by two important reports that explain the business opportunity that early adopters might catch within this newly identified sector.

The first one, issued on November 27, comes from Grayscale, which identified the metaverse as a one trillion dollar investment opportunity. The second one comes from a Bank of America strategist, who also stated the metaverse would be a massive opportunity for the entire crypto ecosystem.

What do you think about the new $200 million gamefi BSC fund? Tell us in the comments section below.

Virtual Metaverse Plots Outpace Top NFT Collection Sales, Play-to-Earn Tokens Surged in Value This Year

Virtual Metaverse Plots Outpace Top NFT Collection Sales, Play-to-Earn Tokens Surged in Value This Year

During the last seven days, virtual lands sold in the metaverse have outpaced a great number of non-fungible token (NFT) sales. Moreover, metaverse native crypto tokens like axie infinity, sandbox and decentraland and play-to-earn digital assets in general have jumped significantly in value this year.

Metaverse Properties Outpace NFT Collections — Play-to-Earn Tokens Rise


Following the meme-crypto hype, the decentralized finance (defi) trend, and the non-fungible token (NFT) craze, the metaverse has become a big deal. Essentially, a metaverse is a different version of the internet that supports virtual environments, items, collectibles, weapons, and sometimes play-to-earn features. Virtual worlds like Second Life, Minecraft, and Roblox can be considered iterations of the metaverse but in recent times, blockchain technology has entered the realm.

For instance, out of the $2.3 trillion crypto economy, $25 billion of it belongs to play-to-earn (P2E) digital assets. Axie infinity (AXS) is the largest P2E token in terms of market capitalization with a valuation of around $6.5 billion.

While AXS has lost 25% during the last week, AXS is up 20,824% year-to-date (YTD). The second largest P2E token is sandbox (SAND) with a $4.6 billion market valuation. SAND lost 32% this past week but has gained 11,597% YTD.

The third-largest market valuation in terms of P2E assets is decentraland (MANA) with a market cap of around $4.4 billion. MANA has lost 32% this week as well but has gained 3,693% YTD in USD value. Other top P2E tokens in terms of market cap size include gala (GALA), wax (WAXP), illuvium (ILV), and mobox (MBOX).

Staking Land in the Metaverse Can be Expensive — The Sandbox Captures $70M in Weekly Sales


In addition to metaverse and P2E tokens gathering massive value during the last year, in recent times land in the metaverse has been a hot commodity. Metrics from nonfungible.com indicate that the NFT market history for the last seven days shows The Sandbox has been the top contender. Sales stemming from The Sandbox metaverse saw more than $70 million in sales during the last seven days.

Virtual Metaverse Plots Outpace Top NFT Collection Sales, Play-to-Earn Tokens Surged in Value This Year

That’s about $10 million more than the sales produced by the Bored Ape Yacht Club (BAYC) NFT collection which saw $59 million. Moreover, The Sandbox sales are much larger than the Cryptopunks NFT collection sales which captured $17 million last week. The virtual reality platform powered by the Ethereum blockchain, Decentraland has seen the sixth largest number of weekly sales with $6.6 million last week.

The biggest sales on Decentraland were land plots and estates worth between $289K to $758K. While The Sandbox outpaced Decentraland sales, land plots sold for much lower values as land exchanged hands this past week for $44K to $68K per plot. However, virtual land adjacent to Snoop Dogg’s Sandbox estate recently sold for $450K in ethereum. The average USD price for The Sandbox metaverse products during the last week was $15K across more than 4,400 sales.

What do you think about the metaverse and P2E tokens gaining a lot of value this year? What do you think about all the metaverse land sales? Let us know what you think about this subject in the comments section below.