Animoca partners with Avalanche… to invest in AVAX and expand the ecosystem

Animoca Brands is moving to expand the Avalanche ecosystem after signing a strategic investment and partnership agreement with Ava Labs, the developer behind Avalanche (AVAX).

Animoca Brands said on the 19th that it has teamed up with Ava Labs to support the growth of, and broader adoption across, the Avalanche ecosystem. The collaboration includes a strategic investment in the Avalanche token AVAX, as well as advisory and business development support for projects.

Under the partnership, the two companies plan to provide funding support, product integration and strategic advisory services to help incubate Avalanche-based projects. Cooperation will focus on key areas including entertainment, real-world assets (RWA) and digital identity.

The initial regions of cooperation have been set as the Middle East and Asia. Animoca Brands plans to support the commercialization of Avalanche ecosystem projects in those markets, leveraging the infrastructure and institutional networks it has built there.

The two companies aim to combine Avalanche’s highly scalable architecture with its accessibility for institutions to expand the use of blockchain for real-world assets and strengthen Avalanche’s standing in global markets.

John Nahas, chief business officer (CBO) at Ava Labs, said, "Animoca Brands has experience across the broader consumer- and institution-focused blockchain ecosystem and a wide portfolio network," adding that "this collaboration will accelerate the expansion of the Avalanche ecosystem in Asia and the Middle East, where digital asset activity is vibrant."

Omar Elassar, head of global strategic partnerships at Animoca Brands, said, "Avalanche is a platform suited to institutional and sovereign-level use, backed by a scalable subnet architecture and compatibility with the Ethereum Virtual Machine (EVM)," adding that "we will initially focus on digital identity and RWA tokenization, while in the long term supporting developer and project growth across the broader Avalanche ecosystem."