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Terence Lee · · 1 min readIn brief: Binance, 500 Startups, others put $40m into blockchain game-making platform
China’s Cocos-BCX has raised US$40 million in financing from top blockchain funds and investors, including Binance Labs, NEO Global Capital, 500 Startups, and more.
Leveraging its Cocos2d-x (a leading open-source game development platform) and its existing community of 1.1 million developers, the company will bring together game developers and blockchain engineers to build and collaborate on the blockchain game development platform.
“Gaming has potential to be the low-hanging fruit in blockchain industry, yet the application in this space remains largely untapped,” said Ella Zhang, head of Binance Labs.
Source: Press release
The Chinese game development industry is in a limbo at the moment. “The once-booming industry has been paralyzed since March, when the government ordered what was expected to be a relatively short-term freeze in gaming licenses. It’s illegal to launch a video game in China without government approval, so the move shelved game releases that haven’t been greenlit,” writes Tech in Asia’s Charlie Custer.
Editing by Eileen C. Ang
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