Animoca Brands signs six blockchain mutual investment agreements

By Sophie Chapman
The games and apps developer, Animoca Brands Corporation, has signed several mutual investment agreements with blockchain firms. The six agreements aim...

The games and apps developer, Animoca Brands Corporation, has signed several mutual investment agreements with blockchain firms.

The six agreements aim to enable blockchain technology to be used within mass consumer markets.

Animoca Brands has partnered with Datum, LikeCoin, Musicoin, OST, Harmony, and I-House.

The firm will invest its shares for the equivalent value in digital tokens, entering US$1bn in total to six agreements.

The partnerships will grant Animoca Brands with access to technology, products, knowledge, and networks.

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The firm also signed a memorandum of understanding (MoU) with Mind Fund Group and Helix, which was launched by Mind Fund ad Hedera Hashgrapha.

“One of the biggest challenges facing blockchain networks is the current limit in transaction volume and latency,” remarked Yat Siu, Chairperson and Co-Founder of Animoca Brands.

“Hedera Hashgraph's performance tests show throughput of 50,000 transactions per second, and up to ten times that number under certain conditions.

“Partnering with Helix and Mind Fund will significantly help Animoca Brands to scale our blockchain products, allowing us to create a new generation of distributed games and applications that will have powerful consumer appeal.”

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