- OKEx to invest $10m in improving GameFi projects
- Exchange says it aims to use program support Metaverse development
OKEx is launching the $10 million Metaverse program to help accelerate and incubate early-stage GameFi projects.
This is as the rapid development of various Metaverse projects is leading the blockchain industry into a new era. OKEx are launching the $10 million Metaverse program to support the development of the Metaverse and GameFi.
The program will also bring recognition to projects that are ready to launch, with a Metaverse-themed hackathon and sponsored by prominent GameFi projects. The hackathon will offer workshops, support, and a demo day to connect developers with potential VC investors. For later-stage projects, OKEx will provide priority listings as well as additional promotion and resources to boost the growth of these projects.
OKEx CEO Jay Hao explained that the Metaverse GameFi project is more than just going online; He described it as a virtual world circulating with digital assets and avatars to represent oneself.
He states that the exchange is happy to support the Metaverse and be involved with the next generation of gaming.
OKEx priority on GameFi projects
The exchange firm, in a press release sent to Cryptopolitan, noted that it would provide fast listing and marketing channel support for outstanding OEC-based GameFi projects.
OKEx noted that it believes that with the continuous development of the Metaverse, an immense new ecosystem of gaming and virtual spaces is emerging.
The firm said it will leverage its leadership in the blockchain industry to provide comprehensive support and quality experiences for most GameFi teams and users through top-notch technical products, capital, and services.
Through its OKEx BlockDream Ventures, the exchange established an OEC GameFi Grant with an initial amount of $10 million. It will focus on investing in various OEC-based GameFi projects and meta-infrastructures.
Similarly, OKEx BlockDream Ventures — associating with Animoca Brands, Yield Guild Games, and other top global partners — will host a hackathon with the theme “BUIDL IN MEGAFORCE” on Aug. 26. The winning team will receive $1 million in funding and additional support from OKEx, such as advanced listing and promotional marketing.