Animoca Manufacturers, a nonfungible token (NFT) sport developer, has introduced a considerable funding within the NFT platform Bondly.
In line with a launch issued on Friday, Animoca will personal a majority stake in Bondly following the funding.
Commenting on the rationale behind its funding in Bondly, Animoca chairman and co-founder Yat Siu advised Cointelegraph:
“We acquired a majority stake in Bondly as a result of it would considerably help us to drive true digital possession by way of NFTs, and we see this as essential to the way forward for gaming and the emergence of the open metaverse.”
As a part of the funding, Bondly’s NFT know-how, together with launchpad and cross-chain bridges, will probably be included into Animoca’s gaming merchandise.
Per the announcement, Animoca is seeking to make the most of Bondly’s suite of NFT tech options to allow avid gamers to maneuver in-game NFT belongings throughout totally different blockchain networks.
The Animoca chief additionally advised Cointelegraph that the corporate considers Bondly’s merchandise to be extremely related to the blockchain sport developer and its subsidiaries.
“We see wonderful potential purposes of Bondly’s NFT swap protocol, market, and cross-chain NFT minting and bridges,” Siu advised Cointelegraph.
The Bondly funding is the most recent in Animoca’s spending spree following a profitable capital elevate again in Could that pushed the company to a $1billion valuation.
In line with Siu, Animoca is looking out for much more NFT tech firms because it seeks to develop its footprint within the sector.
Animoca at the moment holds investments in over 100 firms, together with distinguished names within the NFT house equivalent to OpenSea and Dapper Labs.
The Animoca acquisition comes after Bondly suffered a security issue back in July. On the time, the challenge’s native token slumped 60% amid reviews of a suspected exploit.
Commenting on the enhancements made to the protocol because the hack, Bondly CEO Harry Liu advised Cointelegraph that the challenge has upscaled its safety infrastructure.
Extra reporting by Brian Quarmby.