Be Media has undertaken an intensive hiring push in blockchain development and project management as a result of the acquisition.
Be Media, an Australian digital marketing agency, has been bought by Animoca Brands, a nonfungible token (NFT) investment firm.
Since 2013, Be Media has provided advertising and digital strategy to Web2 businesses from its locations in Perth, Melbourne, and Sydney. The investment seems to be part of Animoca’s immediate objective of “shepherding companies into Web3,” even if the company isn’t directly targeting the crypto sector.
According to a statement shared with Cointelegraph, Be Media will be in charge of developing partnerships with well-known Australian businesses regarding Animoca’s several blockchain-related initiatives, such as NFTs and the creation of an “open Metaverse.”
“In keeping with its expanded scope after the acquisition, Be Media has launched an aggressive hiring campaign in the disciplines of blockchain development and project management to serve the company’s growing pipeline of prospects,” according to the statement.
Jordan Fogarty, the founder and CEO of Be Media, expressed his enthusiasm for the company’s foray into blockchain technology, saying he was “proud” to be able to assist local businesses in “introducing their clients to the metaverse, NFTs, and the potential of digital property rights.”
Fogarty told the Australian Financial Review (AFR) on Tuesday that the local business sector currently has an “insane” need for Web3 technologies like NFTs:
“A lot of firms say they need to do something with web3, but they don’t know how, and since it’s so new, there aren’t many service providers that have the skills and experience.”
“I’d be surprised if not many firms are developing a strategy in this space at the corporate level,” he added.
DAOs, according to Animoca’s Yat Siu, will help our democracy thrive.
In recent years, Animoca Brands, a crypto unicorn valued at $5 billion, has been in a never-ending investment frenzy. Cointelegraph reported only last week that the company spent $15 million for a 96 percent share in Eden Games and a 70% stake in Darewise Entertainment.
Both partnerships are meant to help the firm build triple-A-level games using blockchain technology. Animoca Brands’ other two Australian companies, Blowfish Studios, and Grease Monkey Games, will benefit from the acquisition of Be Media.