Beijing-based blockchain gaming platform Cocos-BCX has raised $40 million in new financing from global investors including Binance Labs, 500 Startups, BlockVC, and NEO Global Capital. The platform was created by the founding team of Cocos2d-x, the massive open-source game development platform that has spawned hit mobile games including Angry Birds, Clash of Kings, and Badlands.

Co-founder Richard Yang says that using blockchain technology for game development is a natural fit. "There is an economy within any game," he says, "and blockchain allows the developers and players to validate scarcity.” In other words, blockchain technology can be used to manage the supply and ownership of virtual resources collected by players during gameplay, like cards, coins, weapons, and rare items.

A Cocos-BCX Medium post last month also suggested that because source code built on the blockchain will be visible to and verifiable by the public, blockchain technology will create a more transparent community around game mechanics and deepen the relationship between gamers and developers.