Animoca Brands, a blockchain gaming company, has acquired game streaming platform Azarus as part of its strategy to enter the crypto game streaming market. The acquisition will enable Animoca to combine blockchain technology with live streaming, creating new opportunities for gamers to earn digital assets and cryptocurrencies while playing.
Animoca Brands is known for its popular blockchain games such as The Sandbox and F1® Delta Time. With the acquisition of Azarus, the company plans to launch a new platform called Project Xeno, which will allow streamers and gamers to monetize their skills and content through a reward system powered by cryptocurrency.
Project Xeno will utilize Non-Fungible Tokens (NFTs), which are unique digital assets that can represent ownership of in-game items, characters, or other virtual assets. These NFTs can be bought, sold, and traded on the blockchain, giving gamers the opportunity to truly own and control their virtual possessions.
However, while the concept of NFTs has gained popularity in the crypto community, there are concerns that high-priced NFTs, also known as “$10K JPGs,” are scaring away real gamers. These expensive NFTs, which are essentially digital artworks, have gained significant attention in the digital art world, but some argue that they are overshadowing the true potential of NFTs in the gaming industry.
According to Myriam Houriez, COO of Animoca Brands, the focus of NFTs should be on utility rather than speculation. Houriez believes that NFTs can bring tangible benefits to gamers by allowing them to own and trade in-game assets, enhancing gameplay and fostering the growth of virtual economies.
In addition to the acquisition of Azarus, Animoca Brands has been actively expanding its presence in the gaming and blockchain industries. The company recently partnered with Formula E to launch a blockchain-based racing game featuring digital collectible cars. It has also acquired several intellectual property rights for popular brands such as MotoGP and Care Bears, with plans to develop blockchain games based on these franchises.
With its focus on the intersection of gaming and blockchain technology, Animoca Brands is poised to capitalize on the growing interest in crypto-powered gaming experiences. By offering gamers the opportunity to earn and own digital assets and cryptocurrencies, the company aims to revolutionize the gaming industry and create new opportunities for both players and content creators.
– Animoca Brands acquires game streaming platform Azarus to enter the crypto game streaming market.
– Plans to launch Project Xeno, a platform that allows gamers and streamers to monetize their skills and content through cryptocurrency rewards.
– The focus of NFTs should be on utility rather than speculation.
– Expanding presence in the gaming and blockchain industries through partnerships and acquisitions.
– Aims to revolutionize the gaming industry by offering opportunities for players and content creators to earn and own digital assets and cryptocurrencies.