At TOKEN2049, Animoca Brands chairman Yat Siu says poor investor relations are holding back Web3 gaming despite stronger fundamentals. | Credit: Picture alliance / Getty Images. Key Takeaways Yat Siu told CCN that many Web3 gaming companies fail at basic investor relations, which has hurt token valuations. The Animoca Brands Chairman said the closure of early Web3 gaming companies has left stronger players to build richer games. Animoca’s new MoCA Portfolio token gives holders exposure to its broad W ...

Core Insights - Animoca Brands and AlphaTON Capital have entered into a non-binding letter of intent proposing equity and token investments, including the potential acquisition of a controlling interest in GAMEE, a subsidiary of Animoca Brands [1][4] - The proposed acquisition aims to enhance AlphaTON Capital's strategy to expand gaming within the Telegram ecosystem, which has over a billion monthly active users [1][2] Company Overview - GAMEE has over 119 million registered users and has facilitated over 10 billion gameplay sessions across its platforms, making it a prominent player in the Web3 gaming sector within the Telegram ecosystem [2][10] - AlphaTON Capital plans to acquire a 51% equity interest in GAMEE and 51% of the GAMEE (GMEE) and Watcoin (WAT) tokens held in GAMEE's treasury, with intentions to purchase up to US$3 million of GMEE tokens and US$1 million of WAT tokens on the open market [3][4] Strategic Vision - The collaboration reflects a shared vision to promote digital property rights and enhance Web3 accessibility by leveraging the Telegram platform [4][5] - The acquisition is seen as a significant milestone for Web3 gaming and the TON ecosystem, potentially making GAMEE the first Nasdaq-listed Web3 gaming company [5][10] Leadership Statements - Yat Siu, co-founder of Animoca Brands, emphasized the strategic importance of the acquisition for both companies and the potential for profitable operations in the digital asset space [5] - Brittany Kaiser, CEO of AlphaTON Capital, highlighted the opportunity to support the growth of businesses within the Telegram ecosystem and the mass adoption of decentralized technologies [5][8]