BSC and Animonica announced Dec. 6 that they are co-investing up to $100 million each to support game projects in the GameFi sector.
One of the largest blockchain ecosystems, BSC will be investing from its $1 billion accelerator arm for decentralized finance (DeFi), nonfungible tokens (NFT) and GameFi. The fund was set up earlier this year to extend BSC ecosystem services and drive mainstream adoption across the fintech sector.
Animoca Brands is a major player in blockchain gaming and the open metaverse, working on providing property rights via NFTs and gaming. The firm has invested in major NFT-related projects including Axie Infinity, OpenSea, Bitski, Harmony and others.
“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,” BSC investment director Gwendolyn Regina said.
GameFi, a mix of gaming and DeFi, has been one of the biggest buzzwords in the cryptocurrency industry recently alongside the concept of the metaverse. GameFi refers to the financialization of video gaming and operates under a play-to-earn model instead of play-to-win.
A number of major crypto companies and investment firms have been investing in GameFi over the past couple of months, including Huobi crypto exchange, Solana Ventures, FTX, Sanctor Capital, and others.
Nonfungible tokens (NFTs) are on the rise, bringing to light the latest innovation in the digital collectible market. Along with this new asset class comes several artists, including Mike Winkelmann, a man better known as Beeple. Before NFTs were created, Mike was far from a well-known artist.
Now, after selling a work of his art for $69 million, he has become one of the most valuable living artists today. The thing is, Mike is just one of these artists who has taken advantage of this new chapter in art history, and he’s far from the last.
Operating under the Inmagine Group, known for owning a stock photo gallery 123RF.com and a photo editor Pixlr.com, is Pixlr Genesis. Pixlr Genesis is targeted to become the largest decentralized art museum on the metaverse, complete with an extensive collection of exclusive NFT art. Together, Pixlr Genesis is aimed to become a community, a place where artists, collectors and enthusiasts may come together.
As new or reinvigorated patrons of the arts, participants in the community will become crucial in the bringings of what can only be referred to as the second Renaissance.
In their own words, a member from their team shares,
“Pixlr’s mission is to empower creators to make exceptional content and share it with the world. We see NFTs as a way to democratize ownership of art as well as establishing new experiences between creators, owners and collectors.”
It's been a bumpy ride for Bitcoin (BTC) investors. While waiting on the United States Securities and Exchange Commission (SEC) to make their decision about whether or not they will approve a spot Bitcoin exchange-traded fund (ETF), Canada-based investment firm Fidelity is reportedly launching a spot ETF in the country, subject to regulatory approval.
According to a tweet shared by Bloomberg senior ETF analyst Erick Balchunas, the fund "Fidelity Advantage Bitcoin ETF" is currently pending listing on a Canadian exchange. Balchunas also pointed out that if the new fund succeeds, it would become the largest asset management firm that offers Bitcoin services.
Fidelity's decision to offer a spot ETF in Canada only adds fuel to fire, as one of the world's largest asset managers with almost $4 trillion in assets is compelled to develop a service in Canada to satisfy customer demands.
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