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Animoca Brands and Brinc are investing up to $30 million in a play-to-earn ecosystem
A Guild Accelerator program provides up to $500,000 for each selected early-stage startup Crypto-focused gaming has grown exponentially over the last 12 months, and market participants expect it to continue this year, further driving crypto adoption The Sandbox's parent company Animoca Brands has partnered with venture accelerator Brinc to launch its Guild Accelerator program and the global Expand the play-to-earn ecosystem. The two companies will make a total investment of up to $30 million over the next two years in increments of $500,000 or less for each inducted group in the...
Animoca Brands and Brinc are investing up to $30 million in a play-to-earn ecosystem
- Ein Guild Accelerator-Programm stellt bis zu 500.000 US-Dollar für jedes ausgewählte Startup in der Frühphase bereit
- Das Krypto-fokussierte Spielen ist in den letzten 12 Monaten exponentiell gewachsen, und die Marktteilnehmer erwarten, dass es dieses Jahr fortgesetzt wird und die Einführung von Krypto weiter vorangetrieben wird
The Sandbox's parent company, Animoca Brands, has partnered with venture accelerator Brinc to launch its Guild Accelerator program and expand the global play-to-earn ecosystem.
The two companies will provide a total investment of up to $30 million over the next two years in increments of $500,000 or less for each early-stage group enrolled program.
The program aims to help millions of people worldwide generate income by participating in the play-to-earn (P2E) gaming world through crypto games.
Priority will be given to applicants that are committed to sustainability, including projects that "support and give back to player/scholar communities, emphasize energy-efficient proof-of-stake protocols and sidechains, and have a smaller overall physical footprint," according to the announcement.
Brinc closed a $130 million fundraising two months ago by Animoca Brands with the aim of focusing on expanding its accelerator programs.
“Web3-enabled guilds offer an entry into the future of earning in ways that Web2 and traditional industries never could,” said Manav Gupta, founder and CEO of Brinc, in the press release. “Guilds can help transform education, skills development, agriculture, research and development, and almost any industry where access to tools and assets has historically prevented everyone from innovating, improving skills, and making a living.”
Animoca incubates and supports NFT, blockchain gaming and Metaverse projects, and supports the development of blockchains including Flow and Polygon. It has previously supported over 150 NFT and Metaverse-related companies, including OpenSea, Dapper Labs, Axie Infinity, and Yield Guild Games. Last month, the company raised $358 million to build the open metaverse.
“As the world enters a new era of work and play, the play-to-earn guild space has tremendous growth potential,” Yat Siu, co-founder and chairman of Animoca Brands, said in a statement.
“Managing digital assets in games and the open metaverse represents a significant source of income for hundreds of millions of people,” commented Siu.
In general, crypto-focused gaming has grown exponentially over the past 12 months, and market participants expect it to continue this year and further drive crypto adoption.
Popular P2E game Axie Infinity initially expected an "aggressive target" of 250,000 users by the end of the year, but ended 2021 over 1,000% higher at 2.9 million community members, Blockworks previously reported. By the end of 2021, the game's total revenue reached approximately $1.3 billion, compared to $18.8 million six months earlier.
Separately, capital has flowed into the P2E gaming space in recent months with initiatives such as Mechanism Capital's $100 million fund and a joint fund, also $100 million, announced by GameStop and Immutable for gaming NFTs (non-fungible tokens).
Animoca Brands and Brinc could not be reached for comment on Monday.
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The post Animoca Brands and Brinc to Invest up to 30M in Play-to-Earn Ecosystem is not financial advice.