Animoca Brands Invests in UAE-Based Farcana to Boost Bitcoin Ecosystem in Gaming

Published: November 28, 2023 at 12:09 am Updated: November 28, 2023 at 12:10 am

Edited and fact-checked:
November 28, 2023 at 12:09 am

Animoca Brands Invests in UAE-Based Farcana to Boost Bitcoin Ecosystem in Gaming

Animoca Brands, a key player in the Web3 and metaverse space, has strategically invested in Farcana, a UAE-based gaming startup.

This investment aims to support Farcana’s beta launch and development within the Bitcoin ecosystem, propelling the company towards becoming a leading gaming studio in the MENA region.

Built on Unreal Engine 5, Farcana is a team arena third-person shooter game renowned for its competitive tournaments with permanent Bitcoin prize pools, and it is poised to become one of the first AAA Web3 games introducing “Free Mint” Bitcoin ordinals. The game, attracting over 40,000 users, plans new tournaments following initial playtests in Dubai.

Animoca Brands’ Role in Farcana’s Growth

Hong Kong-based Animoca Brands has been advising Farcana on tokenomics and market strategy since Q2 2023.

This investment not only strengthens Animoca’s activity in the MENA region but also aligns with its recent partnership with Saudi Arabia’s NEOM. Animoca will use the majority of the new capital to enhance Farcana and integrate it within the Bitcoin ecosystem.

Yat Siu, co-founder of Animoca Brands, commended Farcana’s progress and emphasized Animoca’s vision to drive Web3 development in MENA. Ilman Shazhaev, Farcana’s CEO, highlighted the collaborative effort with Animoca and expressed excitement about bringing the game to market next year.

Dubai’s Embrace of Gaming and Web3 Technologies

Farcana’s development coincides with Dubai’s “Dubai Program for Gaming 2033,” launched by Crown Prince HH Sheikh Hamdan. This program, focusing on talent, content, and technology, aims to bolster Dubai’s digital economy, making Farcana and Animoca Brands’ involvement particularly significant.

Animoca Brands’ investment in Farcana marks a significant stride in the gaming industry, particularly within the Bitcoin ecosystem. As Farcana prepares to launch one of the best games in Web3, this collaboration underscores the potential for innovative gaming experiences in the rapidly evolving digital landscape.

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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti