Micky: Animoca Brands Acquires Major Stake in Australia’s Be Media

Be Media will be tasked with seeking out partnerships with top Australian Brands relating to Animoca’s various blockchain-focused initiatives.

Animoca Brands, a nonfungible token (NFT) investing powerhouse, has purchased a large stake in Be Media, an Australian digital marketing business.

Be Media will be tasked with finding collaborations with leading Australian brands in relation to Animoca’s many blockchain-focused efforts, including NFTs and the development of an “open Metaverse,” according to an announcement shared with Cointelegraph.

“In line with its expanded scope after the acquisition, Be Media has begun an aggressive hiring process in the fields of blockchain development and project management to support the expanding pipeline of opportunities that the company will handle,” the announcement read.

Be Media to ‘shepherd companies into Web3’

Be Media, which has offices in Perth, Melbourne, and Sydney, has been providing advertising and digital strategy to Web2 enterprises since 2013. While the company isn’t specifically targeting the crypto sector, the investment appears to be part of Animoca’s immediate goal to “shepherd companies into Web3.”

Be Media founder and CEO Jordan Fogarty outlined his excitement for diving into blockchain tech with his firm, noting that he was “honoured” to have the opportunity to help local companies take the plunge into Web3 and “introduce their customers to the metaverse, NFTs, and the power of digital property rights.”

In an interview with the Australian Financial Review on Tuesday, Fogarty said there is an “insane” demand from local businesses to use Web3 technology like NFT.

Animoca’s investment binge

Over the last few years, Animoca Brands, a crypto unicorn valued at over $5 billion, has been on a never-ending spending spree. It was revealed last week that the company has purchased a 96% stake in Eden Games for $15 million and a 70 percent stake in Darewise Entertainment for the same amount.

Both deals are expected to aid the company in the development of triple-A games powered by blockchain technology. The purchase in Be Media complements Animoca Brands’ other two Australian ventures, Blowfish Studios, and Grease Monkey Games.