Animoca Brands, the nonfungible token (NFT) investment giant, has acquired a significant stake in the Australian digital marketing agency Be Media.
It has been reported that Be Media has locations in Perth, Melbourne, and Sydney and has provided Web2 firms with advertising and digital strategy since 2013. While the company isn’t geared toward the crypto sector, the investment seems to be a part of Animoca’s immediate aim to “shepherd companies into Web3.”
However, Be Media will be tasked with seeking out partnerships with top Australian Brands relating to Animoca’s various blockchain-focused initiatives such as NFTs and launching an “open Metaverse.”
The report stated:
“In line with its expanded scope after the acquisition, Be Media has begun an aggressive hiring process in the fields of blockchain development and project management to support the expanding pipeline of opportunities that the company will handle.”
Jordan Fogarty, the founder and CEO of Be Media, outlined his enthusiasm for diving into blockchain tech with his firm, noting that he was “honored” to have the chance to help local companies take the plunge into Web3 and “introduce their customers to the metaverse, NFTs, and the power of digital property rights.”
Fogarty also suggested that there is currently an “insane” demand from the local business sector to adopt Web3 tech such as NFTs.
“So many brands out there are saying they need to do something in web3, but how, and there’s not many service providers with the skills and experience because it’s so new. At the corporate level I’d be surprised if there aren’t many companies thinking of a strategy in this space.”
Likewise, Animoca Brands, the crypto unicorn valued at around $5 billion, has been on a relentless investment spree over the past couple of years. Last week alone, it was reported that the company acquired a 96% stake in Eden Games for $15 million and a 70% stake in Darewise Entertainment.
Thus, both deals are expected to help the company develop triple-A level games backed by blockchain tech. While the investment in Be Media also adds to Animoca Brands’ two other Australian investments, which include gaming firms Blowfish Studios and Grease Monkey Games.