December 23, 2021
Binance Smart Chain’s $1B Growth Fund Invests In Crypto Gaming United
Binance Smart Chain (BSC), the leading DeFi, NFT, and GameFi ecosystem, has announced its investment into Crypto Gaming United (CGU) under its $1B Growth Fund. This will enable CGU to power the next wave of Web3 adoption through the booming play-to-earn metaverse economy and increase blockchain gaming employment.
“The metaverse brings a multitude of opportunities in and outside of the decentralized finance space. For BSC, this means investing in the economic potential of virtual worlds while empowering guild members to play the games they love while earning a living. CGU provides a platform for everyone irrespective of their location, background and skillset to build a new virtual economy powered by sustainable income.” said Alex Odagiu, Investment Manager at BSC $1B Fund.
CGU is aiming to employ 1,000,000 people via its play-to-earn platform by 2024, facilitating NFT token cash outs in the countries hardest hit by the pandemic and youth unemployment, such as the Philippines, Russian Federation, Ukraine, Kazakhstan, Zambia, Myanmar, South Africa, Indonesia, Sri Lanka, Bangladesh, Lebanon, Fiji and Papua New Guinea.
“We are a category creator for metaverse employment, having developed infrastructure for crypto careers workforce management via our LaborX marketplace, that forms the basis for technology that underpins CGU play-to-earn ecosystem,” said Sergei Sergienko, CGU co-founder, and CEO of Chrono.tech, a blockchain-based hiring ecosystem and operator of LaborX marketplace.
Much growth is happening in the metaverse, where skills like community management, content creation, digital discovery, transactional talents and metaverse office skills (telecommuting 3.0) are sorely needed for jobs in augmented reality, virtual reality, NFT, crypto, gaming, auctioning, and social media, among others. Play-to-earn is exploding in popularity as a vocation among the world’s 200 million job-seeking individuals, with CGU employing scholars in countries that represent 60% of this population. CGU is confident that with investment from BSC $1B Program strengthening its international reach, it is on track to employ an estimated 1 million people as more play-to-earn gaming platforms join the union.
To date, BSC has supported over 300 blockchain projects via its Growth Fund, one of the largest and fastest acceleration programs in the world, and plans to incubate and accelerate more than 500 startups in the coming months. The investment in CGU aligns with BSC’s vision of increasing crypto-blockchain mass adoption globally by providing support to emerging industries and projects building on it.