Blockchain Gaming Platform Raises $40M to Change Future of Gaming

Blockchain Gaming Platform Raises $40M to Change Future of Gaming

Some of the biggest blockchain investors, including Binance Labs, NEO Global Capital, 500 Startups have allocated $40 million to blockchain game development platform Cocos-BCX.

Blockchain game development platform Cocos-BCX, the same group behind Cocos2d-x, one of the largest open-source game development platforms and creator of hit games like Angry Birds, Badlands, Fight!, and Clash of Kings, raised $40 million in financing from top blockchain funds and investors, the company told Cryptovest.

The financing round, led by Binance Labs, NEO Global Capital, 500 Startups, and others, is expected to change the future of gaming. With the fresh funds, Cocos-BCX will now have the capability to hasten the development of a new gaming platform and accelerate the company’s rapid growth and expansion.

“Gaming has always been in our DNA, so we have a deep understanding of what the game developer community needs to succeed with blockchain. More importantly, we understand what type of development environment is most effective across all blockchain platforms and operating systems,” said Haozhi Chen, founder of Cocos-BCX. “With this new injection of capital, we will push the blockchain gaming industry forward and focus on penetrating the market faster than anyone else in this space.”

According to the company, the funding came after it unveiled its first Cocos-BCX demo in March 2018, which provide details about its in-game item generation, offline storage, and transfer of an experimental version of the company’s virtual machine and CocosChain.

Since the launch of the demo, Cocos-BCX has doubled its team and opened new offices in Beijing, Seoul, Tokyo, and San Francisco. In addition, the firm has expanded strategic partnerships with other promising blockchain projects like Cell Evolution, Loom, Nebulas, and Ontology with more blockchain and gaming deals to be announced in the coming months.

“Building an entirely new blockchain gaming platform from the ground requires building a new engine, blockchain system, and an integrated development environment (IDE), which is no small undertaking,” said Richard Yang, co-founder of Cocos-BCX. “We are delighted that our hard work and ongoing efforts thus far have been validated by so many investors and influencers from the blockchain and gaming communities. With this new funding, we are confident that we can further accelerate the development of Coco-BCX to help bring blockchain gaming to the masses.”

Last week, US-based 123gaming Ltd and gaming token for sports betting, gaming, fantasy sports PlayUp and eSports, inked an unprecedented deal establishing the world’s first zero-cash, 100% token agreement.