Animoca Brands, a venture capital firm focused on gaming and the metaverse, has partnered with Ava Labs.
According to The Block, Animoca Brands has invested in Avalanche ($AVAX) and formed a strategic partnership with Ava Labs.
Accordingly, the two companies will work together to accelerate Avalanche’s expansion in Asia and the Middle East through capital investment, product integration, and consulting support.
They will particularly support projects in the areas of real-world asset tokenization (RWA), entertainment, and digital identity, and will focus on expansion in Asia and the Middle East.
The amount of the investment was not disclosed.
Animoca Brands stated that it has established regional infrastructure and institutional relationships that it can leverage to commercially expand Avalanche ecosystem projects in Asia and the Middle East.
Omar Elassar, General Manager of Animoca Brands Middle East, stated: “Avalanche combines a scalable subnet architecture with EVM [Ethereum Virtual Machine] compatibility, making it particularly well-suited for sovereign and enterprise deployments, where we are seeing increasing demand globally. Our initial focus will be on identity integrations and RWA tokenization, but our broader goal is to support developers within the Avalanche ecosystem and increase its adoption.”
$AVAX price did not react to the investment and partnership news.
*This is not investment advice.
