Animoca Brands has entered into a series of partnerships with six blockchain-focused technology companies.
The firm hopes the deals will “advance the introduction of blockchain products to the consumer mass market, stimulate adoption and innovation of blockchain technology, and enhance the utility and value of certain existing cryptographic tokens”.
As part of each agreement, the company will enter into a total of $1 million in mutual investments with the six partners, with Animoca poised to invest its shares in exchange for the equivalent value in the form of each partner’s tokens.
The partnerships are with Datum, LikeCoin, Musicoin, OST, Harmony and I-House, with each a leading developer in the blockchain and digital token space. The parties will collaborate to build blockchain-powered apps and implement blockchain technologies to drive uptake in the consumer mass market, while enhancing the value and utility of partners’ digital tokens.
Yat Siu, the co-founder and chairman of Animoca Brands, commented: “The partnerships announced today bring the number of our strategic investments in blockchain to 17, accelerating our capabilities in this space.
“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.
“We strongly believe that these partners have the potential to become global leaders on truly massive scales, and together we will work toward a future in which multiple blockchain technologies are used concurrently in the same products.”