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Blockchain gaming startup Cocos-BCX announced today that it has closed a $40 million financing round led by top cryptocurrency companies, including Binance Labs and NEO Global Capital, as well as more traditional venture capital firms, including 500 Startups.

According to the announcement, Cocos-BCX plans to build an end-to-end platform where game developers can “build, deploy, operate, and scale their games across all major blockchain platforms.” The startup previously launched its first demo in March 2018 and has since grown its team toĀ 40 people across new offices in Beijing, Seoul, Tokyo and San Francisco.

A major focus for Cocos-BXC up until now has been the build-out of a number of significant partnerships, given that the startup aims to support the developing of decentralized games across all blockchains. A few notable partnerships includeĀ Loom, Ontology, Nebulas and Cell Evolution.

In a statement accompanying the announcement,Ā Ella Zhang, Head of Binance Labs, emphasized the opportunity the exchange giant sees in gaming as a largely untapped market.

“Gaming has potential to be the low hanging fruit in blockchain industry yet the application in this space remains largely untapped,” said Zhang. “We hope Cocos-BCX initiative will drive more real use cases for crypto adoption and reveal more potential of blockchain technology.”

Both BinanceĀ and NEO have previously demonstrated an interest in blockchainĀ gaming. It was recently announced that Binance would invest an undisclosed amount in Malta-basedĀ chiliZ’s new tokenization platform for the esports and sports industries, while NEO is building the gaming ecosystem within its network and even recently staged 40-game hackathon.

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NEO andĀ BinanceĀ Coin (BNB)Ā are currently ranked 13 and 15, respectively, in theĀ AltDexĀ 100 IndexĀ (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More:Ā Cocos-BCX Welcomes Binance Labs, NEO Global Capital, 500 Startups as Strategic Investors
Similar:Ā Tezos (XTZ) Co-Founder Believes Video Games Will Drive People to Crypto

Disclaimer: This articleā€™s author has cryptocurrency holdings that can beĀ tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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