Animoca Brands partners with NFT Project Imaginary Ones to enhance tokenomics

Web3 venture capital firm Animoca Brands has announced a partnership with Imaginary Ones, a Singapore-based NFT project.

According to a press release shared with Crypto.news, the NFT project plans to leverage Animocas expertise and resources to strengthen its tokenomics. The venture capital firm will also help Imaginary Ones with its “go-to-market strategy,” the release added.

“Animoca Brands support will fast-track our plans in the three areas of utility, coins and development, which will help to unify Web2 and Web3 worlds and build on our promise that if you can imagine it, we can build it,” said Clement Chia, co-founder of Imaginary Ones.

As part of this collaboration, Imaginary Ones is also planning an airdrop campaign for Imaginary Ones and Imaginary Rides NFT holders. The airdrop will distribute the projects native token, BUBBLE coin, which is slated to launch in Q1 of 2024.

Initially established as an IP company, Imaginary Ones transitioned into a Web3 entertainment company. The projects first NFT collection sold out in four minutes in April 2022.

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The firm also partnered with fashion giant Hugo Boss in 2023, becoming the first Asian NFT project to partner with an international fashion brand. The project has since launched two web3 games, Bubble Rider and Bubble Rangers.

“Imaginary Ones has built a robust ecosystem, and its collaborations with industry giants such as Hugo Boss and Samsung are a reflection of the companys visionary approach to help bridge the gap between the Web2 and Web3 industries,” said Yat Siu, co-founder and executive chairman of Animoca Brands.

The announcement follows Anioca Brands investment into Imaginary Ones on February 29, 2024. However, the value of the funds invested remains undisclosed.

Besides Imaginary Ones, Animoca Brands also joined hands with BlockPass, a web3 firm building KYC solutions for decentralized platforms. The partnership, announced on March 15, focuses on addressing concerns related to AI deep fakes and identity theft.