NFT gaming firm Animoca Manufacturers acquires majority stake in Bondly

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Animoca Manufacturers, a nonfungible token (NFT) sport developer, has introduced a considerable funding within the NFT platform Bondly.

In accordance 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 through 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 expertise, together with launchpad and cross-chain bridges, can be integrated into Animoca’s gaming merchandise.

Per the announcement, Animoca is trying to make the most of Bondly’s suite of NFT tech options to allow avid gamers to maneuver in-game NFT belongings throughout completely 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 glorious 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 increase again in Could that pushed the corporate to a $1billion valuation.

Associated: Animoca Targets Non-Crypto Players by Growing Massive Model Video games

In accordance with Siu, Animoca is looking out for much more NFT tech corporations because it seeks to broaden its footprint within the sector.

Animoca at present holds investments in over 100 corporations, together with outstanding names within the NFT house comparable to OpenSea and Dapper Labs.

The Animoca acquisition comes after Bondly suffered a safety challenge again in July. On the time, the venture’s native token slumped 60% amid studies of a suspected exploit.

Commenting on the enhancements made to the protocol because the hack, Bondly CEO Harry Liu advised Cointelegraph that the venture has upscaled its safety infrastructure.

Further reporting by Brian Quarmby.