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Crypto News

Animoca Brands Acquires Decentralized Streaming Titan, Azarus

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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In a strategic business move, Animoca Brands, a pioneer in the realm of Web3 blockchain gaming, has acquired a significant stake in Azarus, the groundbreaking decentralized streaming platform powered by blockchain technology. The acquisition aims to merge the potentials of both entities, crafting a synergized environment for creators, gamers, and streamers, thereby unlocking innovative revenue avenues for the community.

Azarus, recognized for its unique platform that fosters direct interactions between creators and gamers, has already disbursed over $2 million as a reward, benefiting a massive user base of over 20 million distinctive players. The platform’s decentralized nature ensures a direct reward mechanism for users who tune into streams and also for those who wish to reward their favorite creators, exemplifying a thriving circular economy.

Animoca Brands’ acquisition is poised to add more versatility to the platform. The integration of Azarus’ technology into Animoca’s suite promises novel revenue streams that stand to benefit the broader gaming ecosystem. Features such as ad overlays and gaming trivia are expected to bring additional rewards to gamers.

Interestingly, this isn’t the first collaboration between the two companies. December saw them forging a partnership to amplify Azarus’ reward mechanism, aiming to cater to a broader base of blockchain gaming enthusiasts. Prior to this collaboration, Azarus successfully raised $4 million in an extended seed round and made waves in the gaming community with its trivia game based on the popular “League of Legends.”

For Animoca Brands, this acquisition mirrors their unwavering commitment to decentralize the gaming sphere, using cryptocurrency as the primary vehicle to achieve their lofty ambitions. Yat Siu, the executive chairman of Animoca Brands, compared the enthusiasm around Azarus to the early vigor observed with The Sandbox, mentioning:

“We recognized the immense potential and dynamism of Azarus, reminiscent of The Sandbox’s initial days. This acquisition echoes our faith in the revolutionary power of Web3 technology.”

Siu envisions this merger as a golden opportunity to metamorphose the streaming realm, making it more interactive and closely knit with the burgeoning open metaverse concept.

Echoing Siu’s optimism, Alexander Casassovici, Azarus’ CEO, emphasized the enhanced user engagement that this acquisition would usher in, stating, “Our goal is not just to enhance streaming but to pioneer a paradigm shift where every viewer is an active contributor, transforming every stream into an immersive, interactive spectacle.”

In a related development from November 2022, Animoca Brands unveiled its ambitious plan of launching a $2 billion fund dedicated to backing established metaverse projects. However, the fluctuating cryptocurrency market conditions led them to recalibrate their fundraising target to $1 billion by January.