Roehl Niño Bautista · · 1 min readBinance’s VC arm invests in NFT gaming startup
Binance Labs, the incubator and venture capital arm of cryptocurrency exchange firm Binance, has invested an undisclosed amount in blockchain gaming startup Star Sharks.
Image credit: Star Sharks
Star Sharks is launching its first game, Starsharks.Warriors, in November, which will let players own, breed, and trade sharks as non-fungible tokens (NFTs). The firm will implement a referral system and “rent-to-play” features in the future.
Binance Labs’ latest investment will fund the startup’s talent expansion for blockchain game development. Star Sharks’ game is built on Binance Smart Chain.
“We have seen how decentralized games have the potential to build an inclusive, passionate global community, and Star Sharks wants to achieve that in our Shark metaverse,” said Star Sharks’ CEO, who goes by the moniker “Francis,” noting that they want everyone to have “fair and equal rights” in accessing decentralized games.
Last month, Binance invested in music NFT platform Melos Studios. The fintech firm also launched a US$1 billion fund to grow crypto users through investments, talent development, liquidity incentives, and a builder program. Crypto exchange platform MCDEX was the fund’s first investment.
Editing by Collin Furtado and Lorenzo Kyle Subido
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