The Hong Kong-based blockchain gaming operator Animoca Brands announced the acquisition of the streaming Web3 platform Azarus. VentureBeat reports.
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Financial terms of the deal and other details were not disclosed.
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Co-founder Yat Siu said the decision signals a belief in the transformative power of Web3 technology.
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“Together we hope to rethink the streaming landscape, making it more interactive, useful and aligned with the open metaverse,” he said.
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The deal will allow Azarus’ solutions to be integrated into Animoca Brands’ portfolio. The company will be able to use Web3 technologies to create a gaming economy in which creators, gamers and streamers can control their rights to digital property.
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Azarus, founded in 2018, allows streaming of gameplay and interaction with viewers, using tokens for rewards. According to open data, Animoca Brands had previously been an investor.
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In September, the blockchain-gaming operator raised $20 million for the Mocaverse metaverse project through the additional issuance of ordinary shares. The funding round was led by CMCC Global.
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In November 2022, Siu announced that the company would create a fund of up to $2 billion for investments in metaverse companies. In 2023, Animoca Brands reduced the target amount for the structure to $800 million.
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As of April 30, the blockchain-gaming operator’s consolidated assets stood at $3.4 billion.