Animoca Brands has recently acquired Azarus that is a blockchain streaming platform. This move will integrate Azarus’ streaming technology into Animoca Brands’ extensive catalog.
Although financial details of this acquisition are undisclosed, Animoca Brands hopes to transform Web3 gaming space with this action.
Azarus will allow users to live stream their gaming sessions and engage with their audience. Streamers have the option to use Azacoin to offer rewards and incentives to their viewers.
Viewers can support their favorite creators on Azarus and, simultaneously, direct viewers to off-stream destinations. These include brand properties, e-commerce, or other Web2 and Web3 games.
Yat Siu, the chairman of Animoca Brands, stated that the acquiring shows their belief in the transformative potential of Web3. He compared Azarus to the early days of The Sandbox, highlighting its promising outlook. Siu also expressed their shared vision of making the streaming industry more interactive, rewarding, and harmonized with the open metaverse.
Azarus highlights the interactive nature of streams, setting them apart from traditional TV. Overlay Games by the company enable streamers to integrate advertising and games into their streams, facilitating immediate audience interaction.
The company is also known for its video stream wallet and games that integrate with video players.
The company received funding totaling $5.8 million from Animoca Brands, Galaxy Digital, and Kleiner Perkins in 2019 and 2022. Moroever, it joined the Ubisoft Startup Program in 2018 and secured $1.8 million funding for its blockchain themed game challenge platform.