Animoca Brands Invests in Avalanche… “Supporting Ecosystem Expansion”

Source

JOON HYOUNG LEE

Summary

Global blockchain company Animoca Brands said it will invest in Avalanche (AVAX).
Animoca Brands said it will work with Ava Labs to expand the Avalanche ecosystem.
It said the collaboration will focus on real-world asset (RWA) tokenization and digital identity verification to broaden Avalanche adoption.

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Global blockchain company Animoca Brands is investing in Avalanche (AVAX).

According to The Block on the 19th (local time), Animoca Brands announced that it will work with Ava Labs to expand the Avalanche ecosystem. Ava Labs is the developer of Avalanche.

Animoca Brands will also invest in Avalanche as part of this collaboration. The specific investment amount was not disclosed.

The partnership is expected to center on areas such as tokenization of real-world assets (RWA) and digital identity verification. Animoca Brands said, “In the early stages (of the partnership), we plan to focus on integrating identity verification and tokenizing real-world assets (RWA),” adding that “the broader goal is to support builders in the Avalanche ecosystem and expand Avalanche adoption.”

AVAX