Animoca Brands has joined hands with six leading blockchain companies to expand its reach in the blockchain-gaming market. The game developer intends to enhance its capability in the blockchain area with its mutual investment in these blockchain companies. Until now, the company has made deals with around 17 blockchain companies.
Animoca to work in union with leading blockchain companies
With its investment in Datum, Musicoin, LikeCoin, I-House, OST, and Harmony the emerging gaming company secured a token of around $1 million. Along with these six blockchain companies, Animoca wants to build software related to blockchain that can manage the growing demand for mobile gaming in the industry.
According to reports, Animoca and the group of companies will develop blockchain products and apps for the consumer mass market. The company believes that it will trigger off the adoption and innovation process in the field of blockchain technology. The companies intend to increase both the value and utility of the current cryptographic tokens made available by several companies in the market at present.
Animoca also intends to form and increase the adoption of distributed applications with the help of this collaboration. According to the Chairman and Co-Founder of Animoca, Yat Siu, “We continue to seek the best available specialised 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.” Siu further added that Animoca will invest around $1.4 million in all the six companies collectively and in return will receive an equal value of tokens from each partner.
According to Siu, the company wants to become a leader in the field of blockchain in general and also in the gaming space. Since Animoca cannot achieve this dream all by itself in such a huge industry, the company is partnering with others. Siu expects this collaboration to help Animoca accelerate its speed of growth.
To improve its blockchain capabilities further, the company recently signed an MOU with Mind Fund Group and Hedera Hashgraph after collaborating with the six other blockchain companies above.