- Animoca Ventures and Blocore have signed a Memorandum of Understanding under which they will work closely together to seek out and support leading Web3 companies.
- The partnership has been initiated to grow their respective blockchain and Web3 ecosystems.
- Blocore’s CEO Lim Hyung-Cheol says his company is happy to strengthen its relationship with Animoca Ventures and will continue to cooperate in various ways.
- James Ho of Animoca Ventures says Blocore’s expertise and influence will boost Animoca’s tireless efforts to find and support the most promising and passionate startups building in Web3.
PRESS RELEASE — HONG KONG/Oct.7, 2022 — (GLOBE NEWSWIRE) — Animoca Ventures, a leading Web3 ecosystem builder and investor, and Blocore, a leading blockchain investor headquartered in South Korea, today announced that they have signed a Memorandum of Understanding under which they will work closely together to seek out and support leading Web3 companies, and thus to grow the blockchain and Web3 ecosystems.
It is envisioned that through the MoU, the global infrastructure of Animoca Ventures, coupled with Blocore’s investment expertise and leading influence, will create significant synergies in both investment and business areas, enabled by the following activities:
- collaborating in the identification of promising blockchain investment opportunities
- sharing of data and domain knowledge of blockchain market trends
- cooperating on growth-driving strategies for portfolio companies and related businesses.
Blocore, one of the most influential blockchain investors in South Korea, already enjoys a long partnership with Animoca, having invested in its subsidiaries, including Animoca Ventures and leading decentralized gaming virtual world The Sandbox. The two companies also co-led a $9.1 million investment in the fashion metaverse platform ALTAVA in March 2022. This MoU, therefore, strengthens the already close relationship between the parties.
Commenting on the MoU, Blocore CEO Lim Hyung-Cheol said, “We are glad to strengthen our relationship with Animoca Ventures further and to more proactively seek co-investment opportunities. We will continue to cooperate in various ways as we have laid a solid foundation for the development of the Web3 industry.”
“We are delighted about this partnership with Blocore,” remarked James Ho of Animoca Ventures. “Animoca has been at the forefront of ecosystem building in Web3 and the metaverse. We believe metaverses will become the portal between the digital and physical worlds, and Blocore’s expertise and influence will provide an impactful boost to our tireless efforts to find and support the most promising and passionate startups who are building in Web3.”
Blocore is a blockchain-specialized investor that supports multi-stage companies by including technical advisory, strategizing, and marketing. It has invested in Wemix, Klaytn, Hypebeast, Kong Studio, and other promising companies. Also, it formed the ‘Core Alliance,’ an investment alliance with the world’s top Web2 game companies to support Web3 entrepreneurs that devote themselves to the industry’s thriving.
*Core Alliance: An investment alliance formed by Bandai Namco Entertainment 021 Fund, Krafton, NCsoft, Netmarble, Nexon, and Blocore to discover and invest in a ‘well-made’ Web3 games.
About Animoca Ventures
Animoca Ventures is the venture investment arm of Animoca Brands, a global leader in digital entertainment, blockchain, and gamification.
Animoca Ventures specialises in early-stage investments in Web3 and blockchain companies and projects.
It serves as the pulse of Animoca Group, working at the frontlines to discover new cutting-edge projects and trends in the Web3 space.
The contents of this press release do not constitute investment advice and do not constitute any offer or solicitation to offer or recommendation of any investment product in any jurisdiction. The contents have been prepared for general informational and general purposes only. Crypto assets are highly volatile and may be regulated or restricted in your jurisdiction. You are encouraged to seek independent professional advice if you have any questions.
SOURCE: Animoca Ventures