Pires Investments (PIRI ) said Pluto Digital, a crypto venture capital and technology firm and an investee company of the investment firm, has partnered Maze Theory, a London-based digital entertainment studio, to release a series of games incorporating token economics.
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.”
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 (“NFTs”), told investors last Monday that it had entered into the non-binding letter of intent with 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.
Pluto has acquired a ‘successful track record’ in the past 12 months, NFT Investments noted, with the firm having released a DeFi token which is now trading on global crypto exchanges.
Pluto has also, amongst other things, established a venture capital arm, Pluto V, which has made investments in a range of Web3 projects and NFT assets which performed well in 2021.
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