Cocos-BCX, creators of Angry Birds have received significant funding to develop its blockchain gaming platform.
The Beijing-based blockchain gaming platform raised $40 million in new financing from global investors. The new funds which came from major blockchain investors from across the globe such as Binance Labs, 500 Startups, BlockVC, and NEO Global Capital, as well as unnamed others.
The platform was designed by the creators of Cocos2d-x, which is seen as one of the largest open-source game development platforms that have created many popular games like Angry Birds, Clash of Kings, and Badlands, which are all currently run on the company’s open-source Cocos-2d-x platform.
Presently, Cocos-BCX consists of three critical components, according to the website firstly, a “game development software framework and virtual machine.” The second is a “visual and data-driven development environment.” And the third, CocosChain, is a public blockchain designed specifically for games and high-performance, high-transaction applications.
Richard Yang, the co-founder of Cocos said in a statement that development of a game using blockchain technology is a “natural fit,” and that “There is an economy within any game and blockchain allows the developers and players to validate scarcity.”
The Cocos-BCX tokens will be used as a medium of exchange, as a governance tool and as a way to validate proof of stake. The technology could help make management of the supply and ownership of virtual resources collected by players during gameplay, like cards, coins, weapons, and rare items more simplified.
Founder of Cocos, Haozhi Chen said the fund will help the company penetrate the market faster and champion the blockchain gaming industry.
Cocos2d-x has an existing community of 1.1 million developers which the company hopes will jumpstart mainstream adoption of Cocos-BCX