Both firms plan to dedicate $30 million over the next two years toward early-stage startups focused on expanding the global P2E ecosystem.
Animoca Brands and Brinc Launch P2E Fund for Early-Stage Startups
On February 14, the blockchain firm Animoca Brands revealed it has partnered with the venture accelerator firm Brinc. The two companies have launched a new fund dedicated to the play-to-earn (P2E) ecosystem by providing $30 million to early-stage startups. Participants in the Guild Accelerator Program (GAP) will get “$500,000 or less” to help bolster the industry.
Animoca Brands says the GAP aims to “enable millions of people around the world to generate income by participating in P2E gaming via crypto gaming guilds.” The deal also follows Brinc’s recent funding round two months ago for $130 million, which was led by Animoca Brands. “Admission to the program is prioritised for guilds with a commitment to sustainability,” the announcement on Monday details.
The announcement further notes that environmentally friendly solutions are key. Animoca Brands’ fund announcement states:
This includes projects that support and give back to player/scholar communities, place emphasis on energy-efficient proof-of-stake protocols and side chains, and have lower overall physical footprints.
$30 Million Guild Accelerator Program to Fund up to $500K per Guild
The Guild Accelerator Program also follows Animoca Brands raising $358 million in mid-January to enhance Web3 and the metaverse industry. In November 2021, the P2E gaming guild Avocado Guild raised $18 million from Animoca Brands. Additionally, the company’s subsidiary, The Sandbox blockchain metaverse game, partnered with the gaming giant Ubisoft and the two unveiled voxelized versions of Rabbids characters.
The partnership announcement between Brinc and Animoca Brands further explains that the GAP funding will be led by Richard Robinson, an entrepreneur-in-residence at Animoca Brands.
“The Guild Accelerator Program will fund up to US$500,000 per guild — To optimise each guild’s performance and help scale growth, the program will foster innovation, set up management and operational systems, share best-in-class learnings from world-class mentors, expand each platform’s user base and assets, and help raise funds beyond the startup phase,” Animoca Brands’ GAP funding announcement concludes.
What do you think about the partnership between Brinc and Animoca Brands and the newly launched Guild Accelerator Program? Let us know what you think about this subject in the comments section below.
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