Animoca Brands, an NFT gaming company, has a interest in Bondly

Animoca Brands, an NFT gaming company, has a interest in Bondly

News Technology
September 19, 2021 by Delnia
373
Animoca Brands, a non-fungible token (NFT) game producer, has made a significant investment in Bondly, a non-fungible token (NFT) platform. According to a press statement published on Friday, Animoca will acquire a majority share in Bondly following the transaction. Animoca chairman and co-founder Yat Siu talked about the logic behind the company's investment in Bondly:
Animoca Brands, an NFT gaming company, has a interest in Bondly

What is NFT gaming company?

Through its investment in Bondly, the NFT gaming company creator hopes to increase cross-chain use of non-fungible token assets.

“We bought a controlling interest in Bondly. Because we believe it will help us drive genuine digital ownership via NFTs. Which is critical to the future of gaming and the emergence of the open metaverse,” says the company.

As part of the agreement, Bondly’s NFT technology, including launchpad and cross-chain bridges, will be integrated into Animoca’s gaming products.

Animoca plans to use Bondly’s portfolio of NFT tech solutions to enable gamers to trade in-game NFT assets across multiple Blockchain networks, according to the release.

Animoca CEO NFT gaming creator believe

The Animoca CEO believes Bondly’s solutions are fundamental to the Blockchain game creator and its subsidiaries.

“We see Bondly’s NFT exchange protocol, marketplace. And cross-chain NFT gaming company, minting and bridges as having a lot of promise,” Siu told.

The Bondly investment is the latest in Animoca’s spending spree. Which started in May with a successful fundraising round that raised the company’s worth to $1 billion.

Animoca is on the hunt for other NFT tech businesses. According to Siu, as it looks to extend its foothold in the industry.

Over 100 businesses have invested in Animoca, including notable names in the NFT area as OpenSea and Dapper Labs.

Bondly had a security concern in July, prompting the Animoca purchase. Also, the project’s native token was down 60% at the moment, after rumors of a possible exploit.

Bondly CEO Harry Liu informed us that the initiative had upgraded its security architecture in the wake of the attack.

Animoca Develops NFT gaming company for Non-Crypto Gamers

Yat Siu, the CEO of Animoca Brands, spoke about his company’s approach of applying Blockchain technology’s benefits to non-crypto-native games with devoted fans.

While the Blockchain gaming business is seeing more investment. One of the most prevalent criticisms of crypto-powered NFT gaming companies has been safeguarding gamers outside of the Cryptocurrency area.

Animoca Brands, a Blockchain gaming giant, feels that the best approach to bring new audiences into Crypto is to acquire mainstream games with devoted players and also expose them to the benefits of Blockchain and distributed ledger technology (DLT).

A stake in a game’s success

Animoca’s goal, according to Siu, is to buy games with a “captive audience that is already producing income [and] is already appreciating the product as it is.”

By incorporating Blockchain technology into it, those parties will get an additional edge that we believe is quite powerful. Also he explained.

Blockchain, according to Siu, is disrupting the gaming business similar to the rise of internet gaming, but with fundamentally different notions surrounding “ownership and value.”

Animoca will issue a unique non-fungible token to its investors and essential partners to commemorate the funding round.

According to the company, it will use the money for product development, acquisitions, and acquiring licensing rights for the NFT gaming company. Animoca has invested in top NFT teams such as Dapper Labs, OpenSea, and Axie Infinity and has published significant games such as The Sandbox, F1 Delta Time, and MotoGP Ignition.

Animoca was recently recognized as one of Australia’s fastest-growing firms and was included in Statista’s top 500 high-growth companies in the Asia-Pacific region for 2021.

In Feb, beginning with F1 Delta Time, Animoca stated that it would launch the whole REVV racing ecosystem on Polygon’s layer-two sidechain to avoid the hefty gas prices associated with utilizing Ethereum’s mainnet.

IN DECEMBER, an NFT representing 5% of the Monaco circuit in F1 Delta Time was auctioned for $222,000. Also, the successful bidder will be able to profit from the races that take place on the track.

Formula One Announces Global Licensing Agreement with NFT Gaming Company

Animoca Brands, a Blockchain business, has announced a global licensing arrangement with Formula 1 to develop a Blockchain game.

Animoca Brands, a Blockchain startup, has announced a global licensing agreement with Formula 1 to develop a Blockchain game based on the world-famous racing series. Also, the announcement was announced in a press release issued by Animoca on March 26.

Formula 1 has allegedly secured a licensing arrangement to allow Animoca to produce an “F1 Delta Time” Blockchain game based on non-fungible tokens. Besides, Formula 1 reportedly pulls 1.6 billion television viewers across 180 regions and engages 506 million fans globally (NFTs).

Also, The upcoming Blockchain game F1 Delta Time will allegedly include a collection component based on NFTs and a racing component that uses those NFTs, with the first phase of a launch planned for May 10.

The press release emphasizes Formula 1’s enormous brand strength and the potential for the new license deal to increase consumer awareness of Blockchain.

Since the start of the FIA Formula One World Championship in the 1950s, the sport has grown to include 21 races in 21 locations across five continents each season, with an estimated 4.1 million spectators.

The Blockchain game, according to Animoca. It will increase fan engagement and coincides with Formula One-Owner Liberty Media’s goal of improving fan experience through significant investments in new technologies.

Formula One has yet to react

As previously reported, Animoca Brands signed a licensing arrangement with Atari. Also, the company is best known for creating classic video games like Tetris and Pac-Man. Also, in most regions worldwide. The rights deal will allow Animoca to create and sell Blockchain versions of Atari’s mobile games “RollerCoaster Tycoon Touch” and “Goon Squad.”

After declaring that it will be investing in cryptocurrencies in February 2018, Atari’s stock price soared by more than 60%.

During a recent interview at the Hong Kong Crypto event Token 2049. Also, Ethereum (ETH) co-founder Vitalik Buterin claimed that Blockchain applications outside of banking are still struggling to gain momentum. But that advancements like NFT gaming company can help widen the technology’s appeal.

Sum-up about NFT gaming company

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References:
https://cointelegraph.com/news/nft-gamming-company-animoca-brands…

https://www.investing.com/news/cryptocurrency-news/nft-gaming…
https://www.animocabrands.com/animoca-brands-to-acquire…
https://bondlyfinance.medium.com/animoca-brands-acquires…
https://markets.businessinsider.com/news/stocks/nft-gamming-company…

1 Comment

  • Rozitta

    NFT is the hottest tech on Blockchain market. I like to know more about NFT gaming company. good luck Antidolos ICO IEO rating and review

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