Animoca Brands, the Hong Kong-based company advancing digital property rights for gaming and the open metaverse, has partnered Daehong Communications, the Lotte Group marketing and advertising arm based in South Korea, to advance Lotte Group’s Web3 business through key initiatives with Mocaverse and Bellygom.
Animoca Brands said in a statement on Tuesday that the duo have entered into a memorandum of understanding (MOU) for a strategic commercial partnership.
The partnership aims to nurture the growth of Daehong Communications and Lotte’s Web3 ecosystem starting with Bellygom, the Lotte Homeshopping’s non-fungible token (NFT) initiative operated by Daehong Communications, through strategic collaborations with Animoca Brands and its marquee NFT project Mocaverse.
According to the statement, Animoca Brands and Daehong Communications will explore opportunities to leverage various blockchain-related technologies, products, and services to curate a comprehensive product portfolio and deliver a seamless virtual experience within Lotte group across the areas of gaming, loyalty and ticketing.
Daehong Communications aims to expand its Web3 presence in its domestic and the international markets, focusing on enhancing gamified experiences within Bellygom’s second collection called BellyLand, utilizing Animoca Brands’ blockchain-based game titles and by partnering with key projects such as Mocaverse.
It is noted that Animoca Brands recently raised $20 million to advance the Mocaverse project, including for its on-chain identity system (Moca ID) and the affiliated loyalty point system for Web3 gaming, culture, and entertainment.
According to the statement, Animoca Brands and Daehong Communications will explore avenues for shared benefit and interoperability between the two programs.
In addition, Mocaverse will offer access to domain naming systems that can be utilized as decentralized identifiers by Bellygom and the broader Lotte ecosystem. Animoca Brands and Daehong Communications are also exploring new blockchain-based business opportunities in the fields of loyalty and ticketing.
As an affiliate of the Lotte Group, Daehong Communications is committed to driving innovation within the group by supporting various initiatives, including the promotion of NFTs and blockchain technology.
With a strong focus on technology-driven marketing solutions, Daehong is at the forefront of the industry.
Animoca Brands is a Web3 firm that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse.
The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E.
It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be., PIXELYNX, WePlay Media, and Gryfyn.
Animoca Brands is one of the most active investors in Web3, with a portfolio of over 450 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, Alien Worlds, and many more..