• Animoca Brands, an NFT gaming company, has acquired a majority stake in Bondly

  • Animoca Brands, an NFT game developer, has announced a significant investment in Bondly, an NFT platform.

    Following the investment, Animoca will own a majority stake in Bondly, according to a press release issued on Friday.

    Animoca chairman and co-founder Yat Siu explained the reasoning behind the company’s investment in Bondly:

    “We acquired a majority stake in Bondly because we believe it will significantly assist us in driving true digital ownership via NFTs, which we believe is critical to the future of gaming and the emergence of the open metaverse.”

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

    According to the announcement, Animoca intends to use Bondly’s suite of NFT tech solutions to enable gamers to move nonfungible token assets in-game across different blockchain networks.

    The Animoca CEO also told ULTCOIN365 that the blockchain game developer and its subsidiaries view Bondly’s products as extremely relevant.

    “We see outstanding potential applications for Bondly’s NFT swap protocol, marketplace, and cross-chain NFT minting and bridges,” Siu told ULTCOIN365.

    The Bondly investment is the latest in Animoca’s spending spree, which began with a successful capital raise in May that raised the company’s valuation to $1 billion.

    According to Siu, Animoca is looking for more NFT tech companies as it looks to expand its presence in the sector.

    Animoca currently invests in over 100 companies, including well-known names in the NFT space such as OpenSea and Dapper Labs.

    Bondly experienced a security breach in July, prompting the acquisition of Animoca. At the time, the project’s native token was down 60% due to reports of a possible exploit.

    Bondly CEO Harry Liu told ULTCOIN365 that the project has upgraded its security infrastructure in the aftermath of the hack.

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0