Binance Invests In This Play to Earn Coin: Price Soaked!

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Binance Labs, the venture capital arm and incubation center of Binance, Play to Earn, a subsidiary of Animoca Brands, and its coin project, announced its recent strategic investment of $1.5 million in mobile gaming platform GAMEE. After this announcement, GAMEE (GMEE) rose sharply from $0.15 to $0.17.

Binance’s play to earn coin investment affected the price

GAMEE, which has risen with the investment of the investment arm of Binance, the world’s largest crypto money exchange with its transaction volume; It is a highly interactive, play to earn mobile gaming platform that rewards players for their skills and efforts. The purchase for GAMEE products is backed by the platform’s cryptocurrency, the GMEE token. The project aims to introduce the advantages of Blockchain to mainstream players. The GMEE token was originally launched on Ethereum and is “bridged” to Polygon and Binance Smart Chain. That is, it is also processed in Polygon and BSC.

Arc8 and G-Bots are the latest blockchain gaming projects powered by the GMEE token. According to the investment statement, Arc8 has brought an approach to casual mobile games, it is played by 300,000 monthly players. G-Bots are upgradeable and buildable cross-platform NFTs that enhance the Arc8 experience. The new fund, announced today, will be used to support the growth of GAMEE’s blockchain gaming experiences and provide product development.

“We are delighted to welcome Binance Labs as a strategic investor to help us build the future of gaming,” said Bozena Rezab, CEO of GAMEE. Binance Labs Investment Director Chase Guo said, “GAMEE is a high-end mobile gaming platform with a deep understanding of play-to-win mechanics. “We are excited about this partnership to take blockchain games to the next level.”

GMEE price gains momentum

After the aforementioned investment, its platform token GMEE surged from $0.154 to $1.78 as seen in the daily chart below. It is trading at $0.1755 at the time of writing. The coin’s seven-day rise is 4%, while its 14-day rise is seen at 56.2%.