Major Hong Kong Game Developer Invests in 6 Blockchain Startups
Animoca Brands (AB1), a Hong Kong-based mobile game developer, has announced partnerships and mutual investments in six blockchain companies, including Datum (DAT), LikeCoin (LIKE), Musicoin (MUSIC), OST, Harmony and I-House.
— Animoca Brands (@animocabrands) October 15, 2018
According to the announcement, Animoca will conduct a mutual investment with each company via a share and token swap that totals $1 million. Animoca will price its stock at roughly $0.07 for the sale.
Through each partnership, Animoca aims to collaborate to build blockchain-powered apps, in addition to implementing blockchain technologies to increase adoption, value and utility of each partner’s digital token.
This move is part of a larger effort by the company, which traditionally focused on mobile game development with titles like Crazy Defense Heroes, to move into the crypto industry establish itself as the market leader in blockchain gaming.
“The partnerships announced today bring the number of our strategic investments in blockchain to 17, accelerating our capabilities in this space,” states Yat Siu, the co-founder and chairman of Animoca Brands. “We continue to seek the best available specialized technology solutions to use in our products and those of our portfolio companies, like Zeroth, and we are therefore thrilled to have signed these deals with Datum, LikeCoin, Musicoin, OST, Harmony, and I-House.”
This news comes a little over a week after Animoca announced that it had entered into an agreement with Decentraland (MANA) to develop two games for Decentraland’s Ethereum-powered platform. Animoca also previously entered into a strategic partnership with OST to develop Blockchain games by leveraging OST’s technology and the OpenST and OpenST Mosaic Protocols.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.