Animoca Brands Corporation Ltd (ASX:AB1) has entered into a strategic partnership with OpenST Limited (OST) to develop blockchain-powered games by leveraging OST’s blockchain infrastructure and services.
Under the agreement, Animoca will develop new products utilising OST technology and will integrate it into some of the company’s existing and upcoming products, including the gamified cryptowallet WalletPet.
Animoca will also serve as an advisor to OST, assisting it to bridge the gap between blockchain and mainstream consumer applications.
Animoca co-founder and director Yat Siu said the company was building a powerful strategic foundation for long-term blockchain development.
“By partnering with OST, Animoca Brands … is securing a savvy partner who has already produced a high-demand utility token and an innovative tokenisation platform.
“We look forward to collaborating to bridge the gap between blockchain technology and mainstream consumer applications as we bring decentralised apps (DApps) into the mainstream, to the hundreds of millions of users who have yet to experience the impact of blockchain directly.”
OpenST Limited is a non-profit company with a mandate to support the OpenST Protocol and advance the OpenST developer ecosystem.
The company raised 46,828 ether through a token sale of its Simple Token in November 2017.
It has also received backing from prominent investors including Tencent Holdings Ltd, 500 Startups and Greycroft.
The OpenST Protocol is a framework for building highly-scalable blockchain token economies, allowing businesses to easily launch and integrate branded tokens into their apps and platforms to transform their communities into dynamic ecosystems.
OST co-founder and OpenSt director Chris Dark said: “As a blockchain enthusiast and also a long-time gamer, I am excited to work with the Animoca Brands team.
“In traditional games, players could earn points but had limited options in terms of spending or selling them.
“With blockchain tokens, such constraints disappear and there are countless possibilities to explore.
“OST has already built many of the blockchain tools that gaming developers need, so there are strong synergies with Animoca Brands’ expertise in gaming, blockchain and artificial intelligence.”