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Animoca Brands Invests In Cudos for blockchain gaming and NFT-based initiatives
Jun, 10 2021
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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.
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Vandana Mrigwani
CBW - External Analyst
INDIA
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