Binance Labs has announced an investment of $1.5 million in the play-to-earn (P2E) mobile gaming platform, GAMEE. The funding will be used to support the growth of GAMEE’s blockchain gaming experiences, drive product development, and decentralization on its network.
What is GAMEE?
In essence, GAMEE is a platform focusing on delivering high-engagement, play-to-earn gaming experiences on mobile devices. What’s more, it is a subsidiary of the biggest name in blockchain gaming, Animoca Brands. Indeed its main goal is to expose a mainstream audience to the benefits of the blockchain. Founded in 2015, GAMEE now has 40 million registered users and has served over 5.3 billion gameplay sessions.
$GMEE is the native token of the GAMEE ecosystem. In other words, it is the currency that players of GAMEE games will earn, use, and trade. Notably, $GMEE first launched on Ethereum, then later bridged to Polygon and the Binance Smart Chain.
We previously covered one of GAMEE’s latest entries in the blockchain gaming space, Arc8. To sum up, Arc8 is a platform for mobile P2E games that used a competitive Esports-like approach to produce some of the most popular blockchain games out there. To illustrate, Arc8 games boast 300,000 monthly players. That makes it one of the top DApps on the entire Polygon network.
Speaking on the funding announcement, the CEO of GAMEE, Bozena Rezab, said the following:
“We are very happy to welcome Binance Labs as a strategic investor to advance our growth and assist us in building the future of gaming, based on the true ownership of digital assets.”
Binance Labs focuses on teams building a decentralized web
As the name suggests, Binance Labs is the venture capital arm of Binance. In addition, Binance Labs also acts as an incubator for different Web3 projects. For those who don’t know, Binance is the largest cryptocurrency exchange in the world. Not only that, but it also has its own blockchain, Binance Smart Chain, and network token BSC.
Binance Labs has a long track record of investing in some major blockchain projects. To list a few, it has previously invested in major P2E game Axie Infinity, Ethereum Layer 2 solution Polygon, and the audio platform Audius.
Not to mention that Binance Labs also invested in one of Animoca Brands’ biggest properties. Namely, the mega metaverse platform, The Sandbox. Without a doubt, Binance Labs has been a major figure investing in highly successful blockchain projects. Not only those on the Binance Smart Chain but in Web3 as a whole.
The investment director of Binance Labs, Chase Guo, also commented on the partnership, saying:
“GAMEE is a top-tier mobile gaming platform with a deep understanding of play-to-earn mechanisms. We are excited about this partnership to bring blockchain gaming to the next level.”
The P2E gaming space is one that many are projecting to see massive growth this year. This move from Binance Labs to invest in GAMEE is yet another sign of the excitement around the blockchain gaming space.