September 18, 2024
By Our Correspondent
In a significant move, Animoca Brands, a venture capital firm and game software company located in Hong Kong, has made a strategic investment in Tokenize Xchange, also referred to as Tokenize, to support the launch of Titan Chain.
On September 16, Animoca Brands, recognized for its involvement in blockchain gaming and the web3 sector, announced its investment in Tokenize’s native token, TKX. The company will also offer market-making services to enhance liquidity and trading efficiency for TKX and other tokens within the ecosystem. The specific amount of the investment has not been disclosed.
As part of this funding agreement, Animoca Brands will assume the role of the largest validator for Titan Chain, which is constructed on the Cosmos SDK and is fully compatible with the Ethereum Virtual Machine, according to the press release.
Hong Qi Yu, the founder of Tokenize, highlighted the strategic significance of this investment, stating that the collaboration will “greatly improve our capacity to innovate in the realms of DeFi, GameFi, and NFTs.”
Established in 2017 and based in Singapore, Tokenize operates under regulatory exemptions from the Monetary Authority of Singapore and possesses a full Digital Asset Exchange license from Malaysia’s Securities Commission. Earlier in March, the exchange raised $11.5 million in Series A funding from Trive Capital.
