Animoca Brands Corporation Limited (Animoca Brands), a Hong Kong-based Web3 firm, announced Monday a strategic partnership with Web3 venture builder Everest Ventures Group (EVG) that includes cross-investments in each other’s projects.

Animoca Brand said in a statement that the latest agreement further solidifies the partnership between Animoca Brands and EVG, who both share a vision of strengthening the Web3 ecosystem and driving its mass adoption, including fostering collaboration in the space and driving innovation through real-world use cases.

As part of this partnership, Animoca Brands and EVG will cross-invest in each other’s projects.

Animoca Brands will back various EVG consumer products launching in 2024 with the aim to make Web3 experiences more accessible to all users.

These products include: OpenSocial Protocol, a scalable and composable infrastructure layer for social applications; Zeek, a decentralized collaboration network for on-chain social bounty and reputation; Legend of Arcadia, a turn-based RPG with an emphasis on community; and Last Odyssey, a kingdom simulation game.

In parallel, EVG will support Animoca Brands’ mission to advance digital property rights by investing in multiple Animoca Brands projects including: Darewise, a Web3 studio focusing on the metaverse of Bitcoin; Anichess, an on-chain chess game with a magic system; and Mocaverse, the marquee growth network with an interoperable infrastructure layer across the Mocaverse Partner Network seeded by Animoca Brands.

“EVG is one of our earliest allies and dedicated builders,

“We’re thrilled to further elevate our partnership and support EVG’s various projects, which we believe have a high potential for mass adoption,” said Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands.

Allen Ng, the Co-founding Chief Executive Officer of EVG, said that even as the market faces headwinds, Animoca Brands continues to prove itself as a pioneering leader in making Web3 the future of the digital world.

While others retrench, he said Animoca Brands and EVG press forward with projects and products to reshape the digital landscape.

“We believe that in the upcoming market it will be real use cases and products – not speculation – that will emerge to drive long-term adoption,

“We look forward to collectively pushing boundaries and delivering projects that withstand bear markets by offering true utility,” he added.

According to the statement, EVG and Animoca Brands believe that the burgeoning blockchain and creator economies in key Asian markets represent significant opportunities to drive real-world use cases.

Together, the two companies are uniquely positioned to tap into fast-growing adoption trends and transform the Internet landscape in Asia.

Animoca Brands is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse.

The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E.

It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, SPORTPASS, PIXELYNX, WePlay Media, Gryfyn, and Azarus.

Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many more.

Headquartered in Hong Kong, EVG is a Web3 operating group driving mass adoption of Web3.

With a global team of 300, the firm has built and launched a diverse portfolio of products for the future of digital interaction across use cases, such as Aspen Digital, Mugen Interactive, Kiki, LiveArt, Blocktempo, Cassava Network, and Adaverse.

As an early investor and lead advisor, the firm has contributed to unicorns, and 150+ defining projects such as Celestia, Wormhole, Berachain, Dapper Labs (Flow), Animoca Brands, Immutable, The Sandbox, Yuga Labs, Kraken, Lukka, Dunamu and Blocklords.

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