Animoca Brands Launches $30 Million Endowment Fund for Blockchain Game Community

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2022-02-15 06:10:33

Renowned NFT and metaverse development company Animoca Brands is partnering with venture capital fund Brinc to launch a blockchain game community funding fund.

Animoca Brands Launches $30 Million Endowment Fund for Blockchain Game Community

This is seen as the groundbreaking campaign in Launchpad Luna, a program launched in mid-2021 in partnership between Brinc and Animoca Brands, to identify and invest in promising NFT startups. In December 2021, Animoca Brands also poured $130 million into Brinc with the ambition to promote Web 3.0.

The above effort aims to enable millions of people around the world to generate income by participating in P2E gaming through various blockchain gaming communities (gaming guilds).

The foundation will fund up to $500,000 per guild, led by Richard Robinson, core member of Animoca Brands. To optimize guild performance and help scale growth, the program will foster innovation, establish better management and operations systems to expand the platform’s user base and assets, and help raise funds beyond the startup phase.

Guilds often provide players with the necessary funding and certain tools to get into the game, because of some significant barriers, such as high starting fees. In return the guild will take a cut of their earned income.

Animoca Brands’ move comes as the Play to Earn (P2E) model in particular and game development funds in general continue to maintain a booming wave this year. Asia is currently the largest P2E market, accounting for 45% of the global total, with the incredible growth of Axie Infinity and over $2 billion in transaction volume in the third quarter of 2021 alone.

It can be affirmed that in the past half year, the gamefi/metaverse/NFT segment has brought a lot of unexpected success to Animoca Brands. In just 2 months of the fourth quarter of 2021, Animoca Brands’ budget has increased 5 times.

Not only that, after the cooperation with Binance Smart Chain (BSC) to set up a fund of 200 million USD to invest in GameFi, announced the plan to build a metaverse for the Korean music market (Kpop) and cooperate with Bored Ape Yacht Club To launch the game in 2022, Animoca Brands immediately successfully raised $ 359 million, raising the company’s valuation to a record $ 5.5 billion.

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