BitMart, the digital asset trading platform, has recently established a $50-million GameFi fund to invest and incubate GameFi and nonfungible token (NFT)-related projects. The fund is also aiming to develop more quality projects in terms of marketing, operations, trading and more.
BitMart is the world’s leading digital asset trading platform, ranked top 15 on CoinGecko and has experienced rapid growth since its inception in 2017. BitMart has increased its daily active users by a hundredfold and doubled its team members in the last 12 months. The exchange has also launched several offerings in the easy-to-use category, including both flexible and locked savings for cryptocurrency users, and the company has further strengthened its systemic infrastructure. These efforts built an impregnable stage for BitMart’s high-standard performance in 2021.
Meanwhile, the past year has shown a noticeable surge in crypto-market funding, and GameFi saw unprecedented success with a series of iconic names, such as Axie Infinity, Thetan Arena, DeFi Kingdoms and more. Searches for metaverse and GameFi are often in the spotlight, and many believe 2022 may see exponential growth for the two.
GameFi turns in-game props into NFTs and turns decentralized finance’s (DeFi) liquidity mining into playable games, enabling play-to-earn (P2E). Driven by liquidity mining, GameFi — a gaming model combining NFT and DeFi — can further its development quickly.
BitMart is quite optimistic about the future potential of this track and has been actively involved in the P2E hype. The $50-million fund will bolster existing GameFi and metaverse tracks, incubating new developments.
BitMart CEO Sheldon Xia said:
“BitMart has a long-standing interest in the development of high-quality GameFi projects, and has always aimed to build the crypto ecosystem; BitMart has strong partners and media resources and can provide a one-stop and streamlined initial game offering (IGO) process for quality blockchain-game project owners in conjunction with BitMart’s Shooting Star IGO platform.”
The fund will nourish GameFi projects in three main aspects: distribution channels, which consist of “crypto-ization” of traditional game publishers; content providers encouraging innovative use cases of blockchain technology; and the underlying infrastructure to reuse various middleware.
With BitMart’s participation, more GameFi gems with high quality and big potential will be developed and introduced to the public to the greatest possible extent, injecting new vitality into the GameFi circuit.
BitMart Exchange is a premier global digital asset trading platform with over 9 million users worldwide and ranked among the top crypto exchanges on CoinGecko. BitMart currently offers 800-plus trading pairs with some of the lowest trading fees in the market. To learn more about BitMart, visit its website, follow its Twitter or join its Telegram for more updated news and promotions. Download the BitMart app to trade anytime, anywhere.