Animoca Brands buys major stake in Aussie digital services agency

Must read

How the Metaverse could impact the lives of kids

The Metaverse is a virtual environment where people can carry out various tasks. The term “metaverse” was a term originally coined...

6 Questions for Dominik Schiener of the Iota Foundation

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to...

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH price to...

Welcome to Mars: I own everything, have total privacy and life has never been better

This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And...

Be Media has begun an aggressive hiring process in blockchain development and project management following the acquisition.

845 Total views

26 Total shares

Animoca Brands buys major stake in Aussie digital services agency

Nonfungible token (NFT) investment giant Animoca Brands has acquired a significant stake in the Australian digital marketing agency Be Media.

Be Media has locations in Perth, Melbourne and Sydney and has provided Web2 firms with advertising and digital strategy since 2013. While the company isn’t geared toward the crypto sector, the investment seems to be a part of Animoca’s immediate aim to “shepherd companies into Web3.”

According to an announcement shared with Cointelegraph, Be Media will be tasked with seeking out partnerships with top Australian Brands relating to Animoca’s various blockchain-focused initiatives such as NFTs and launching an “open Metaverse.”

“In line with its expanded scope after the acquisition, Be Media has begun an aggressive hiring process in the fields of blockchain development and project management to support the expanding pipeline of opportunities that the company will handle,” the announcement read.

Be Media founder and CEO Jordan Fogarty — who will retain a minor stake and continue with his current role — outlined his enthusiasm for diving into blockchain tech with his firm, noting that he was “honored” to have the chance to help local companies take the plunge into Web3 and “introduce their customers to the metaverse, NFTs, and the power of digital property rights.”

Speaking with the Australian Financial Review (AFR) on Tuesday, Fogarty also suggested that there is currently an “insane” demand from the local business sector to adopt Web3 tech such as NFTs:

“So many brands out there are saying they need to do something in web3, but how, and there’s not many service providers with the skills and experience because it’s so new.”

“At the corporate level I’d be surprised if there aren’t many companies thinking of a strategy in this space,” he added.

Related: ‘Our democracy will better evolve because of DAOs,’ says Animoca’s Yat Siu

Animoca Brands, the crypto unicorn valued at around $5 billion, has been on a relentless investment spree over the past couple of years. Last week alone, Cointelegraph reported that the company acquired a 96% stake in Eden Games for $15 million and a 70% stake in Darewise Entertainment.

Both deals are expected to help the company develop triple-A level games backed by blockchain tech. While the investment in Be Media also adds to Animoca Brands’ two other Australian investments, which include gaming firms Blowfish Studios and Grease Monkey Games.

More articles

Latest article

How the Metaverse could impact the lives of kids

The Metaverse is a virtual environment where people can carry out various tasks. The term “metaverse” was a term originally coined...

6 Questions for Dominik Schiener of the Iota Foundation

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to...

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH price to...

Welcome to Mars: I own everything, have total privacy and life has never been better

This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And...

Binance CEO CZ to support Terra community but expects more transparency

Pointing out the potential issues with forking Terra, CZ said that “Minting, forking, don’t create value.” 23086 Total views 60...