Blockchain entertainment company Animoca Brands has acquired a majority stake in non-fungible token (NFT) solution provider Bondly. The investment is looking to use Bondly’s solutions to promote the adoption of NFTs across Animoca’s portfolio.
Animoca has an extensive investment portfolio in the NFT industry ranging from infrastructure platforms such as Flow and Polygon, play-to-earn initiatives Yield Guild and amasa, decentralized finance solutions, digital marketplaces, esports, art, and blockchain gaming.
The investment in Bondly is strategic beyond its market reach because Bondly is working on NFT swap protocols and cross-chain NFT minting and bridges that will enable NFT owners to move their digital assets from one blockchain to another. This feature should enhance the utility of ownership of an NFT and consequently make Animoca digital assets more attractive.
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