Animoca Brands, a nonfungible token (NFT) investment firm, has acquired a significant stake in Be Media, an Australian digital marketing agency.
According to an announcement, Be Media will be tasked with pursuing partnerships with top Australian brands in relation to Animoca’s various blockchain-focused initiatives, such as NFTs and the launch of an “open Metaverse”.
Be Media, which has offices in Perth, Melbourne, and Sydney, has been providing advertising and digital strategy to Web2 firms since 2013. While the company isn’t specifically targeting the crypto sector, the investment appears to be part of Animoca’s immediate goal of “shepherding 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 to plunge into Web3 and “introduce their customers to the metaverse, NFTs, and the power of digital property rights”.
On Tuesday, Fogarty told the Australian Financial Review (AFR) that there is currently a “insane” demand from the local business sector to adopt Web3 technology such as NFTs:
“So many brands out there are saying they need to do something in web3, but how, and there’s not many service providers with the skills and experience because it’s so new.”
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