Memorandum of Understanding signed aiming to expand the blockchain ecosystem and establish a strong partnership to grow co-investment opportunities.
Animoca Ventures, a leading Web3 ecosystem builder and investor, and Blocore, a leading blockchain investor headquartered in South Korea, announced that they have signed a Memorandum of Understanding under which they will work closely together to seek out and support leading Web3 companies, and thus to grow the blockchain and Web3 ecosystems.
It is envisioned that through the MoU, the global infrastructure of Animoca Ventures, coupled with Blocore’s investment expertise and leading influence, will create significant synergies in both investment and business areas, enabled by the following activities:
- collaborating in the identification of promising blockchain investment opportunities
- sharing of data and domain knowledge of blockchain market trends
- cooperating on growth-driving strategies for portfolio companies and related businesses.
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Blocore, one of the most influential blockchain investors in South Korea, already enjoys a long partnership with Animoca, having invested in its subsidiaries, including Animoca Ventures and leading decentralized gaming virtual world The Sandbox. The two companies also co-led a $9.1 million investment in the fashion metaverse platform ALTAVA in March 2022. This MoU, therefore, strengthens the already close relationship between the parties.
Commenting on the MoU, Blocore CEO Lim Hyung-Cheol said, “We are glad to strengthen our relationship with Animoca Ventures further and to more proactively seek co-investment opportunities. We will continue to cooperate in various ways as we have laid a solid foundation for the development of the Web3 industry.”
“We are delighted about this partnership with Blocore,” remarked James Ho of Animoca Ventures. “Animoca has been at the forefront of ecosystem building in Web3 and the metaverse. We believe metaverses will become the portal between the digital and physical worlds, and Blocore’s expertise and influence will provide an impactful boost to our tireless efforts to find and support the most promising and passionate startups who are building in Web3.”
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