Animoca Brands buys large stake in Australian digital services agency to ‘move it to Web3’

NFT investment giant Animoca Brands has acquired a large stake in Australian digital marketing agency Be Media. Following the acquisition, Be Media began an aggressive recruitment process in blockchain development and project management.

Be Media has offices in Perth, Melbourne and Sydney and has been providing Web2 firms with advertising and digital strategy since 2013. Although the company is not focused on the crypto sector, the investment appears to be part of Animoca’s immediate goal: “to move companies to Web3.”

According to the announcement, Be Media will be tasked with finding partnerships with top Australian brands on Animoca’s various blockchain-focused initiatives such as NFTs and the launch of an “open metaverse”.

“In line with the expansion of the scope following the acquisition, Be Media has begun an active recruitment process in blockchain development and project management to support the expanding stream of opportunities that the company will pursue,” the announcement reads.

Be Media founder and CEO Jordan Fogarty, who will retain a small stake and continue in his current role, spoke about his enthusiasm for diving into blockchain technology with his firm, noting that he is “honored” to be able to help local businesses. dive into Web3 and “introduce your customers to the metaverse, NFTs, and the power of digital property rights.”

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Speaking to the Australian Financial Review (AFR) on April 19, Fogarty also suggested that there is currently a “crazy” demand from the local business sector to adopt Web3 and NFT technologies.

“So many brands say they need to do something in web3 but don’t know how because there aren’t many service providers with the skills and experience because it’s a very new area. At a corporate level, I would be surprised if fewer companies were thinking about a strategy in this area,” he added.

Animoca, a crypto unicorn worth around $5 billion, has been on a relentless investment boom in the last couple of years. Just last week, it was reported that the company had acquired a 96% stake in Eden Games for $15 million and a 70% stake in Darewise Entertainment.

Both deals are expected to help the company develop “AAA” level games based on blockchain technology. While the investment in Be Media also adds to Animoca’s other two Australian investments which include gaming firms Blowfish Studios and Grease Monkey Games .

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