Pluto Digital, a crypto venture capital and technology company which is to be acquired by NFT Investments, an investment company specialising in non-fungible tokens (“NFTs”), is partnering with Maze Theory to release a series of games incorporating token economics.
NFT Investments is an investee company of the investment firm, Blue Star Capital (BLU ), which is focused on esports, payments, technology and applications within media and gaming.
Today’s news forms part of NTF Investments’ announcement last week that said it intends to acquire Pluto Digital for £96 million in exchange for 100% of the issued share capital of Pluto.
NFT Investments, an investment firm that specialises in non-fungible tokens, told investors last Monday that it had entered into the non-binding letter of intent (“LOI”) to acquire Pluto.
The proposed acquisition, which is conditional on shareholder approval, is expected to create a significant global metaverse company and advance NFT’s investments in the non-fungible tokens sector as the Pluto Ventures division has invested heavily in NFTs and NFT gaming.
Today, an announcement was delivered through Pires Investments, an investment company which holds an interest in Pluto, in which it detailed Pluto’s latest venture with Maze Theory.
The company explained to investors that Maze Theory, which operates as an immersive gaming studio, is led by a group of industry veterans from PlayStation, Activision and NCSoft and it has released games across virtual reality, PC, mobile and console to critical acclaim.
These games include Doctor Who: The Lonely Assassins (mobile and console) and Doctor Who: The Edge of Time (VR) with Peaky Blinders: The King’s Ransom (VR) launching soon.
Pluto has also now announced the formation of a new gaming blockchain and metaverse studio, called Emergent Games, as part of a joint venture between Maze Theory and Pluto.
Pires Investments noted that Pluto will provide an investment pipeline for the new joint venture and has already invested £4 million in Maze Theory, making Pluto its largest investor, in order to facilitate the studio’s growth and strengthen its expertise in virtual reality (“VR”).
Nicholas Lee, Director of Pires, outlined: “The joint venture demonstrates Pluto’s continued progress and strengthens its position at the forefront of the new decentralised gaming sector.”
To date, Blue Star Capital has invested £0.2m into the IPO of NFT which began trading on the AQSE Growth Market back in April 2021 following a “substantially oversubscribed” placing.
NFT Investments is operating as the first pure-play investment firm focused exclusively on investing in non-fungible tokens to launch on a stock market in a major jurisdiction worldwide.
NFT was launched by the co-founders of Argo Blockchain to invest in non-fungible tokens, a specialised class of assets that certifies authenticity and proof of ownership of digital assets.
At the time, Bixby said the IPO of NFT Investments marked “a significant milestone for the non-fungible sector” and that a “record-breaking” raise provided “a strong foundation on which it could execute its long-term growth strategy and capitalise on its first-mover advantage.”
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