Alphaton Capital, a Ton Treasury Company, has signed a non-binding letter of intention to gain a controlling interest in mobile gaming company Gamee, a complete subsidiary of Animoca Brands.
Summary
- Alphaton Capital has signed a non-binding declaration of intent to acquire a 51% interest in the gaming daughter of Animoca Brands Gamee.
- The deal includes plans to acquire $ 4 million in GMEME and Wat -Tokens from the Open Markt.
- Alphaton shares initially dropped, but came back on the market after the announcement after the announcement.
According to a September 30th announcementThe declaration of intent includes shares and token investments in gamee, a high-level mobile gaming platform and web3-consulting network built on the Ton Blockchain with more than 119 million registered users and a strong foot in the telegram eco-system.
For Alphaton, the acquisition is advertised as part of the company’s broader strategy to accelerate the acceptance of Web3 in the Telegram billion user network by supporting platforms with a high traction that can stimulate involvement, token aid program and ecosystem growth within the Ton Blockchain.
As part of the LOI, Alphaton would acquire a stock of 51% in gamee, along with 51% of the GMEME and what -Tokens that were held in the company’s treasury. The company will also buy another $ 3 million in GMEME and $ 1 million in something on the open market.
GMEME is the native token for Gaming Ecosystem of Gamee and supports rewards and governance on the platform. In the meantime, what a community-first token token for WATBIRD, a gaming project is incubated in the gamee ecosystem.
If the transaction, which is awaiting usual closing conditions and definitive definitive agreements, is completed, Gamee “would” make the first Nasdaq-Gaming company with game assets on a large stock exchange, “said performing chairman Yat Siu, Yat Siu.
“We believe that Gamee can facilitate the mass acceptance of open-source and decentralized technologies such as Ton,” added Alphaton CEO Brittany Kaiser.
Alphaton shares fell almost 3% on October 1 to close $ 5.36, but climbed back in after hours that traded more than 7% to $ 5.77 while investors responded to news about the potential gamee-acquisition.
Alphaton, formerly Portage Biotech Inc., ran out of his biotechnology company earlier this month to be a treasury company aimed at building a Toncoin Treasury. The latest development follows a capital increase of $ 71 million through a private placement and a loan facility with Bitgo Prime, which Alphaton uses to build a Toncoin treasure box of $ 100 million and to support strategic investments in the TON -Ecosystem.
On September 25, the company revealed that it had already used $ 30 million in Toncoin, so that the entry was marked as a top holder in the network.
In the long term, Alphaton is planning to support TON-based apps in the Telegram mini-app ecosystem and it is planning to incubate and develop leading applications, including Ton-based Defi protocols and gaming platforms.
