Binance Smart Chain (BSC) and Animoca Brands are launching a $200-1000000 investment programme to incubate early cryptocurrency-focused gaming projects building on BSC.

BSC and Animonica announced on Mon that they are co-investing up to $100 million each to support game projects in the GameFi sector.

Ane 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 earlier this year to extend BSC ecosystem services and drive mainstream adoption beyond the fintech sector.

Animoca Brands is a major thespian in blockchain gaming and the open metaverse, working on providing holding rights via NFTs and gaming. The house 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 proceeds insights and expertise from leading gaming giants, such as Animoca Brands, forth with collaboration opportunities with blockchain experts from the BSC Community," BSC investment managing director Gwendolyn Regina said.

Related: Animoca Brands raises $5M for NFT market place, Quidd

GameFi, a mix of gaming and DeFi, has been one of the biggest buzzwords in the cryptocurrency industry recently aslope the concept of the metaverse. GameFi refers to the financialization of video gaming and operates under a play-to-earn model instead of pay-to-win.

A number of major crypto companies and investment firms take been investing in GameFi over the past couple of months, including Huobi crypto exchange, Solana Ventures, FTX, Sanctor Capital and others.