(Bloomberg) -- Decentral Games has secured funding and support from Binance Smart Chain's $100 million accelerator fund to help it expand.
Decentral is a top play-to-earn platform and game developer for the metaverse, which is a vision of a virtual world where people interact through avatars. It didn't disclose the exact amount, but said it plans to use the financing to help expand non-fungible token (NFT) markets on the Binance Smart Chain, and accelerate the creation of new games and features for its existing six metaverse venues, according to a statement from the company.
“With Decentral Games paving the way for GameFi projects to connect crypto with entertainment, play-to-earn incentives models have a higher scope for better mass adoption,” said Samy Karim, BSC ecosystem coordinator, in the statement. “We will support DG and help it flourish in the BSC ecosystem.”
Activity around NFTs and the metaverse has surged this year, with total daily NFT sales tracked by Nonfungible.com reaching a peak around $268 million on Aug. 28. Crypto pioneer William Quigley recently said in an interview that the metaverse will lead to a “massive” change in the way people interact with each other, and in business models.
Decentral also counts the likes of Digital Currency Group, Polygon, Decentraland and Arca Funds as strategic partners. A key aspect of the new deal is that it will now get access to Binance Smart Chain's millions of users worldwide and its more than 800 dApps, according to the statement.
Read more: NFTs Are the Revenue Model for Metaverse, Crypto Veteran Says
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