Animoca Brands, a Web3 blockchain games company, has announced the acquisition of Azarus, a blockchain-powered, decentralized streaming platform. The move seeks to expand the reach of both companies and create a joint environment where creators, players, and streamers can benefit from their activities, unlocking new sources of revenue for all.
Animoca Brands Acquires Azarus
Animoca Brands, a Web3 and blockchain gaming company, has acquired a majority stake in Azarus, a blockchain-powered, decentralized streaming platform, for an undisclosed price. Azarus allows creators and gamers to interact directly with users, distributing over $2 million in rewards to more than 20 million unique players.
Animoca Brands will integrate Azarus tech as part of its services, allowing the creation of new revenue streams to benefit all the members of the gaming ecosystem. Gamers can reportedly benefit from overlaying ads and trivia, and users watching streams can also receive and give direct rewards from and to creators, giving origin to a circular economy.
Azarus partnered with Animoca Brands in December when the two companies announced a partnership to extend Azarus’ rewards to more fans of the blockchain gaming environment. Before this, Azarus raised $4 million as part of its extended seed round and launched a League of Legends-based trivia game.
Animoca’s Objectives
For Animoca Brands, this purchase is aligned with its ideas of making gaming a decentralized and rewarding experience, with cryptocurrency being the tool of choice to reach these objectives. Yat Siu, executive chairman of Animoca Brands, stated:
The acquisition of Azarus was a natural business decision that attests to our belief in the transformative power of Web3 technology. Azarus evokes the early days of The Sandbox, with that same energy and upside that makes it such an attractive proposition.
Siu added that with this purchase, Animoca looks “forward to redefining the streaming landscape, making it more interactive, rewarding, and aligned with the open metaverse.”
Alexander Casassovici, CEO of Azarus, stated that the acquisition will amplify their vision, making streaming more engaging. He explained:
We’re not just enhancing streaming; we’re pioneering a movement where every viewer becomes an active participant, and every stream becomes an immersive experience.
In November 2022, Animoca announced the launch of a $2 billion fund to support already-established projects in the metaverse field. Nonetheless, the company lowered its fundraising goal to $1 billion in January due to the state of the cryptocurrency market.
What do you think about Animoca Brands’ acquisition of Azarus? Tell us in the comments section below.