Animoca Brands, which is a nonfungible token (NFT) gaming company, took to the media to announce a substantial investment in the NFT platform Bondly.
According to a statement released by the company on Friday, Animoca will be owning a majority stake in Bondly after its investment. Speaking on the rationale behind its investments in Bondly, Animoca chairman and co-founder Yat Siu spoke to Cointelegraph, saying via best Australian online casino:
“We acquired a majority stake in Bondly because it will significantly assist us to drive true digital ownership via NFTs, and we see this as crucial to the future of gaming and the emergence of the open metaverse.”
Bondly’s NFT technology which includes the launchpad and cross-chain bridges will be integrated into Animoca’s gaming products as part of the investment made by the gaming company, which is looking to use Bondly’s NFT tech solution to allow its gamers to move in-game NFT assets through different blockchain networks, according to the public announcement.
Yat Sui went on to talk to the outlet about the company consideration of Bondly’s products to be highly relevant to the gaming company and its many subsidiaries.
He continued: “We see excellent potential applications of Bondly’s NFT swap protocol, marketplace, and cross-chain NFT minting and bridges.”
The investment made in Bondly is one of many made by the game developing company who has been on a spending spree after successfully raising its capital back in May to a $1billion valuation.
Despite their investment in Bondly, Animoca is showing no signs of slowing down as its still on the lookout for more NFT tech companies as it aims to expand its footprint in the industry, according to Sui via best payout online casino nz.
Animoca is reported to have investments in more than 100 companies, which include big names in the NFT sector like Dapper Labs and OpenSea.
The acquisition of Bondly comes after the NFT Tech Company succumbed to a security issue back in July, this led to the native token dropping 60% amid reports of exploits at the time.
Speaking about the improvements that have been made to the protocol ever since the hack, Bondly CEO Harry Liu confirmed that the project has “upscaled its security infrastructure.”
In other news, Amasa announced the closure of a $1.5 million funding round which was led by Animoca Brands with participation from OKEx Block Dream Ventures, SkyVision Capital, Spark Digital Capital, Momentum 6, Polygon co-founder Sandeep Nailwhal, Yield Guild Games co-founder Gabby Dizon, LD Capital, Double Peak, Maeve Ventures, and Moonwhale Ventures.
This investment will help Amasa launch investment streaming to the world while helping people see the power in the wealth-building of micro income streams and Defi. They will be used to grow the team’s main contributors to help Amasa progress on its roadmap to build the project’s platform.
