Param Labs, a gaming infrastructure startup based in the United Arab Emirates, has secured a strategic investment from Animoca Brands, a Hong Kong-based company advancing digital property rights for gaming and the open metaverse.
Animoca Brands said in a statement on Thursday that it has made a strategic investment into Param Labs, strengthening the two companies’ existing partnership to accelerate the development of Param Labs’ scalable Web3 infrastructure and expand its ecosystem, which boasts over 50 IP partnerships with notable brands such as GameStop, Pudgy Penguins, Mocaverse, and more. According to the statement, Param Labs is focused on developing video games and infrastructure to power the next generation of gaming. It is noted that Kiraverse, the flagship Web3 multiplayer third-person shooter game developed by Param Labs, offers players the opportunity to compete, earn, and trade digital assets like characters and skins. Source: Technode Global
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