In a quest to expand metaverse gaming, Animoca Brands has announced the acquisition of Web3 streaming platform Azarus.
Azarus is pioneering blockchain-based game streaming. The strategic move aims to integrate Azarus’ innovative technology into Animoca Brands‘ portfolio, further enhancing the streaming capabilities within Web3 games. The price for the acquisition of the majority stake wasn’t disclosed.
Animoca Brands, which has invested in hundreds of Web3 game companies, wants to solidify its position as a key player in the rapidly expanding Web3 space. By combining Azarus’ expertise in blockchain-powered game streaming with Animoca Brands’ experience in developing and publishing digital games, the deal will align with Animica Brands’ broader goal of harnessing Web3 technology to create a player-owned economy in which creators, gamers, and streamers can control their digital property rights.
Animoca Brands aims to accelerate a major shift in gaming culture in which Web3 serves as the incentivization layer. Azarus’ technology allows gamers to unlock new sources of revenue, reward their audience, and incentivize their followers. Viewers in turn can direct revenue to their favourite creators, freeing them to produce outstanding content. Along with its unique ability to engage and reward audiences, Azarus provides a unique opportunity to naturally drive in a measurable way viewers to off-stream destinations such as brand properties, ecommerce or Web2 and Web3 games.
Yat Siu, executive chairman of Hong Kong-based Animoca Brands, said in a statement, “The acquisition of Azarus was a natural business decision that attests to our belief in the transformative power of web3 technology. Azarus evokes the early days of The Sandbox, with that same energy and upside that makes it such an attractive proposition. Together, we look forward to redefining the streaming landscape, making it more interactive, rewarding, and aligned with the open metaverse.”
Azarus has a decentralized streaming platform that allows users to stream their gameplay and interact with viewers, all while utilizing blockchain-based tokens to facilitate rewards and incentives.
Founded in 2018, Azarus started out by showing “streams are not TV,” meaning they’re interactive. It did so by engaging gamers with its Overlay Games, which offer streamers a way to overlay advertising and games on their streams. Animoca Brands had already invested in Azarus.
Azarus has since earned acclaim for its video stream wallet and games that layer over the video player and enable instant audience engagement. Azarus has worked with leading brands and streamers to distribute over $2 million worth of rewards to over 20 million unique players.
Alexander Casassovici, CEO of Azarus, said in a statement, “Joining forces with Animoca Brands amplifies our vision. We’re not just enhancing streaming; we’re pioneering a movement where every viewer becomes an active participant, and every stream becomes an immersive experience.”
By enabling Azarus on their streams, Azarus will incentivize creators to broadcast across the metaverse, taking their fans with them as they roam digital realms. This will drive greater sponsorship opportunities for event hosts and unlock new ways to reward fan engagement. Other investors in Azarus included Kleiner Perkins and Galaxy Digital.