Animoca Brands Plans $5 million Equity Swap with Futureverse
Animoca Brands has entered into a strategic partnership with Futureverse, a meta-universe infrastructure company, to advance the technology stack and token ecosystem through mutual investment.
It is reported that the cooperation will also accelerate the development of the Futureverse token ecosystem, including ROOT tokens for Root Network, ASTO tokens to support Futureverse's artificial intelligence protocol, and SYLO tokens to facilitate SYLO's communication and social graph protocols. According to the memorandum of understanding, Futureverse and Animoca Brands intend to conduct an equity swap involving each other's (or their respective group company's) shares, valued at $5 million.