Binance is going to invest $100 million in the Metaverse and gaming initiative based project under the partnership with Hong Kong-based firm.
Binance is a popular global crypto exchange and also it stands at the number one position in the crypto industry with the highest trade volume. Binance is popularly known for its high-level Pro crypto services.
Binance is also active in this crypto industry to push crypto adoption to the next level, through its Investment in perfect crypto projects. Recently, Binance announced his plan of a $1 billion investment in crypto initiative projects in the BSC ecosystem.
As a part of the $1 billion movements, Binance exchange established a partnership with the Animoca brands-Hong Kong-based venture capital firm, to grow the ecosystem of Binance smart Chain (BSC).
BSC and Animoca will work together to push the concept revolution of crypto GamFi, which associates Defi and Gaming industry together in the crypto industry. Both of these two parties will invest $100 million. This is a clear hint that Binance is going to push the development works of the gaming project on the BSC network ecosystem.
Yat Siu, co-founder and executive chairman at Animoca Brands, said that shortlisted projects will support funding benefits to getting started.
“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.”
Binance on UK expansion
Recently Binance CEO Zhao shared his plan of crypto offerings in the UK.
At present, Binance is halted from providing any kind of crypto offerings in the UK by the UK regulatory body FCA.
Binance CEO said that they are looking to get a license in the UK and also they are working on compliance-based work, for which Binance hired 100s of people who have expertise in legal matters.