Binance Crypto Exchange to Invest $100M in Metaverse
Binance is set to invest $100 million in Metawares, a gaming enterprise-based project in partnership with a Hong Kong-based company.
Binance is a well-known global crypto exchange and the number one crypto industry with the highest trading volume. Binance is known for its high-level professional crypto services.
Furthermore, it is also active in the crypto industry to take crypto adoption to a whole new level by investing in specific crypto projects. Recently, Binance BSC announced plans to invest $1 billion in ecosystem crypto ventures.
Being a part of the $1 billion investment plan, Binance exchange has reportedly partnered with Animoca Brands, a Hong Kong-based Venture Capital firm to improve the Binance Smart Chain (BSC)’s ecosystem.
BSC and Animoca will be working together to spearhead the cryptocurrency concept revolution that will bring the DeFi and gaming industries together in the crypto industry and thus introduce GameFi. Both the firms will invest $100 million. All this clearly suggests that Binance is going to move forward with the development of a gaming project in the BSC network ecosystem.
The co-founder and executive chairman of Animoca Brands, Yat Siu said the funding benefits will help launch various shortlisted projects.
“Previous GameFi projects need funding to build their products, and OpenWorld gameplay and tokenomics all need industry expertise, and also networking opportunities to nurture growth in blockchain gaming and open metaverse”.
Recently, Binance CEO Zhao shared a plan for crypto offers in the UK.
Currently, the UK regulatory body FCA has stopped Binance from offering any crypto offers in the UK.
The Binance CEO said that they are looking to get licenses in the UK while also working on compliance and also have hired 100 people who specialize in legal matters.