Animoca Brands Invests In Cudos for blockchain gaming and NFT-based initiatives
CBW -External Analyst
Jun, 10 2021
Cudos announced that Animoca brands have joined the Cudos ecosystem as a shareholder and token holder and it recently achieved unicorn status following an $88,888,888 funding. The partnership between Cudos and Animoca brands will focus on bringing the developers and users to the Cudos Network which grows the value for the ecosystem. The reason for this partnership is to increase the growth of Cudos Network’s user base and decentralized application library.
About Animoca Brand
Animoca brand was founded in 2014 and is a Hong Kong based company expert in blockchain gaming, artificial intelligence, digital entertainment, and non-fungible tokens. It is the latest global brand and ecosystem that is partnered with Cudos. Animoca brand is ranked in the Financial Times list of High-Growth Companies in Asia-Pacific 2021 and has built a sizable portfolio of blockchain technologies and investments that includes DapperLabs, Axie infinity, and Opensea.
Benefits of the ecosystem partnership
The partnership will further enhance the ecosystem with a scalable, low-cost layer one blockchain and layer 2 scaling network for new multichain strategy blockchain gaming and NFT projects within its industry-leading portfolio. This technology and services will benefit more gamers with the Animoca Brands’ ecosystem and Cudos’ fast-scaling partner ecosystem. This also includes a global community of the semiconductor giant AMD of over 100 million gamers.
Also, the partnership will raise the profile of the Cudos network and the main net is set to launch in 2021. This encourages the new wave of adoption from the gaming and blockchain space. Both of the brands are strong in bringing NFT and Defi together in gaming for millions of users. This helps in the potential for the adoption of Cudos technology and developers who build DApps on Cudos Network. Investment in Cudos is highly scalable and the chairman and co-founder of Animoca Brands Yat Siu commented that they are looking forward to collaborating on future projects.
CBW - External Analyst