Sandbox Creator Buys a Major Stake in Australian Digital Agency ‘Be Media’

April 21, 2022, 10:00 AM AEST - 1 month ago

Australian digital marketing agency ‘Be Media’ has sold a significant stake in the company to Animoca Brands, the crypto investment giant behind the Sandbox. Be Media is said to be already filling positions for blockchain-based development:

Hong Kong-based Animoca Brands now has a particularly large stake in the Perth-based digital marketing agency. This comes as the company pivots towards crypto after prioritising the provision of Web2 companies for its digital strategies.

Be Media Stake Part of Animoca Expansion Plan

Animoca appears to have purchased its stake as part of its incursion into Australia with aspirations of inducting more companies into Web3. Although Be Media is not strictly crypto-related, the agency makes a good starting point for Animoca’s expansion plan. Be Media has already begun “aggressive hiring” for project management and blockchain-based development positions.

Be Media founder and CEO Jordan Fogarty will retain his current role and a minor stake in the company. Fogarty is reportedly enthusiastic about the pairing and “honoured” to be a part of the introduction of Web3 to local companies.

High Performing Sales

The Sandbox’s token SAND has performed well since its release, hitting an all-time high in November 2021. Animoca announced its intention to release Metaverse Alpha the following month, which had a knock-on effect on token sales. The play-to-earn game hosted the event for just a month.

More recently, NFT gaming platform Balthazar raised US$3 million through an Animoca Brands token sale. The sale valued the DAO at US$30 million and elevated Balthazar to its status as one of the leading platforms in the metaverse.

Animoca has also partnered with the Australian Football League to mint its new NFT collection.

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