Singapore –News Direct– Chainwire

BinaryX launches a new 220,000 BNX Cyber Incubation Fund, aimed at driving the growth and adoption of Web3 games.

The fund, supported by the project team, seed investors and members of the BNX community, will be used to invest in on-chain gaming projects that utilize or are experimenting with blockchain technology. BinaryX is also offering advisory services alongside the fund to bolster support for projects under the fund.

The fund will be used to provide resources and all forms of support for games at any stage, including early-stage, and late-stage development.

BinaryX Incubation Fund Distribution Breakdown

The fund distribution comes from the overall BinaryX fund as pictured below:

BinaryX will allocate 8% of their overall funds to the Cyber Incubation Fund, the amount is $12 million USD at the time of writing.

Rudy, Head of Growth at BinaryX, said:

“BinaryX is committed to accelerating the adoption of Web3 technologies in gaming. The fund is not limited to supporting blockchain games already in the space, but also traditional developer teams who want to experiment with blockchain in their games or NFTs. We believe in the overall growth and adoption of blockchain within the gaming ecosystem, and we will strive to support any project that is promising to that effect.”

Since launching the incubation arm mid-2022, BinaryX has invested in and incubated 2 GameFi projects. Its portfolio includes SHIT games, and Rh!noX NFT collection, with…