Animoca Brands has entered into a collaborative partnership with global venture accelerator Brinc to put together an esports and gaming accelerator program.
The deal was sealed with a mutual investment of $750,000 in shares, with Animoca and Australian venture capital firm Artesian both pumping a further $750,000 each into Brinc subsidiary Brinc AOA.
The partnership will see Brinc and Animoca put together a global gaming and esports accelerator, letting both tap into a competitive gaming market reportedly worth $1.1 billion.
Animoca admits that accelerators are a relatively new and strange concept in China, but feels this partnership will open the doors to new opportunities for investment and opportunities through them in the fields of gaming, blockchain and AI.
The firm will also gain access to Brinc’s networks in Europe and the Middle East.
Teamwork makes the dream work
“We are thrilled to be working with Brinc, the other major accelerator in the immediate region,” said Animoca co-founder and chairman Yat Sui.
“Brinc’s presence and network significantly increase our pathways into Europe, the Middle East, and China.
“The collaboration with Brinc is the first stage of the establishment of a new ecosystem of accelerators and start-ups that places us at the epicentre of regional start-up activity.”
Brinc founder and CEO Manav Gupta added: “We are excited to partner with Animoca Brands to help develop the Greater Bay Area as the newest global innovation centre. We see a significant opportunity to get early access to new deals and opportunities through our new training programs for accelerators and incubators.
“Given the size of the market, metrics for business success in China are higher than anywhere in the world, with some Series A rounds being invested only when companies hit over 100 million users or tens of millions of dollars in sales.”