top of page
Search

Binance and Animoca Brands Team up for $200 Million Gaming Fund

Updated: Feb 22, 2022

GB Market Commentary 07/12/2021

by Marcus Sotiriou



Launching of gaming funds for the crypto space has not slowed down. It was announced this morning that Binance Smart Chain and Animoca Brands (who are an early stage investor in NFT and metaverse projects, like Sandbox and Axie Infinity) have set up a $200 million programme for blockchain gaming. This is part of Binance’s $1 billion fund committed to Binance Smart Chain. Both companies will invest $100 million each. This comes after the gaming VC firm called Play Ventures announced last week that they are launching a $75 million fund dedicated to blockchain gaming projects. The firm said, “Web3 and play-and-earn will fundamentally disrupt the way games are designed, played and experienced.” In addition, it was just over a week ago where Solana Ventures, FTX, and Lightspeed Venture Partners teamed up to launch a $100 million gaming fund called GameFi.

Binance and Animoca Brands Team Up

In my opinion, this extraordinary amount of funding for projects that combine gaming with blockchain technology could result in many gaming tokens decoupling from Bitcoin in the next year or so, as the sector could go through a phase of hyper growth.


India is taking action towards regulating cryptocurrencies, as them government plans to introduce legislation in the ongoing parliament session. This is reported to likely give crypto holders a deadline to declare assets. Anyone not willing to comply may be fined up to 200 million rupees ($2.7 million) or imprisoned for 1.5 years. It was also said today, according to Bloomberg, that India is considering appointing its capital markets regulator to oversee cryptocurrencies and potentially classify them as financial assets.

Comments

GCEX New Logo and Icons 300X300 (1).png

Terms & Conditions

Privacy & GDPR Policy

Cookie Policy

Jurisdictions

Complaints Procedure

+44 20 4634 3947

info@globalblock.eu

​

  • LinkedIn

GlobalBlock is a trading brand of GC Exchange A/S, part of GCEX Group. GC Exchange A/S is a company incorporated and registered in accordance with the laws of the Kingdom of Denmark (CVR 43088777), authorised by the Danish Financial Supervisory Authority (FTID 45020) as a Currency Exchange and registered as a Virtual Asset Service Provider (FTID 17524) under the Danish Act on the Prevention of Money Laundering and Financing of Terrorism. ​

 

All fiat and cryptoassets transferred to GC Exchange A/S are received and held on a title transfer basis, meaning ownership passes to GC Exchange A/S and clients hold a contractual claim for equivalent amounts. Fiat funds do not constitute deposits or electronic money under Danish or EU law and are not protected by any deposit guarantee or investor compensation scheme. Cryptoassets are not safeguarded or insured, and clients bear the full risk of loss.

 

Cryptoasset services are not regulated by the UK Financial Conduct Authority (FCA). Clients will have no recourse to the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).

 

Cryptoassets are volatile investment instruments that carry a high degree of risk. The value of cryptoassets can go down as well as up, and you may lose the entire amount invested. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. If necessary, seek independent financial advice.

 

GCEX’s products and services are intended for professional and institutional clients only and are not marketed to retail clients in the United Kingdom.

 

The information on this website is provided for information purposes only and does not constitute investment advice or a solicitation to buy or sell any financial instrument or virtual asset.

bottom of page