Cocos-BCX, the US-based creator of a blockchain-focused game development platform, has received $40m in financing from investors including Binance Labs, the strategic investment fund formed by cryptocurrency exchange Binance.
Binance Labs was joined by Neo Global Capital, the investment vehicle for cryptocurrency operator Neo Foundation, and venture capital firm 500 Startups in addition to undisclosed additional backers.
Formed by the founders of open-source game development platform Cocos2D-x, Cocos-BCX is working on a game engine that enables users to create and test games across multiple blockchain platforms, as well as a visual development environment for blockchain games.
The funding will go to furthering development of Cocos-BCX’s software along with the company’s growth. It launched the first demo version of Cocos-BCX in March this year and has opened offices in China, Japan and South Korea.
Haozhi Chen, co-founder and chief executive of Cocos-BCX, said: “With this new injection of capital, we will push the blockchain gaming industry forward and focus on penetrating the market faster than anyone else in this space.”
Ella Zhang, Head of Binance Labs, added: “Gaming is potentially the lowest hanging fruit in the blockchain industry yet the applications in this space remain largely untapped.
“Cocos is one of largest gaming developer communities worldwide, and Haozhi is a serial entrepreneur with proven track record in the gaming space. We hope the Cocos-BCX initiative will drive more real use cases for blockchain adoption and reveal the true potential of blockchain technology.”