Animoca Brands acquires desktop mining outfit Gamma
Animoca has been working hard to make itself a dominant force in the blockchain gaming world
Monetizing and providing a financial incentive for lending out processing power has steadily become an attractive draw for companies. Specifically, carrying on its aggressive policy of making itself omnipresent in the world of blockchain gaming – Animoca Brands has officially entered this computing economy.
Specifically, Animoca Brands has successfully acquired Gamma Innovations. The latter being the name behind GammaNow – a monetisation solution for players looking to loan our spare computing power.
GammaNow leverages this spare power to mine Ethereum, rewarding users with tokens in order to purchase new games with its native token.
Within this acquisition, Animoca Brands has purchased 100% of Gamma Innovations at the cost of $350,000 with an earnout clause worth more than $2.5million if Gamma is able to achieve the following:
- A cumulative revenue target of at least US$5 million over the three year period after the closing of the transaction, and
- B net profit of at least 5% over that period. Animoca Brands may also, at its sole discretion, commit up to an additional US$350,000 to fund Gamma’s operations, research and development, and customer acquisition.
Upon visiting the website of Gamma, there’s certainly good prospects for this kind of growth.
Currently, making use of computing power for mining, the company intends to expand this out to involve scientific computing and Distributed Rendering.
Considering the increased demand for computing power for applications in the world of technology and research, as well as graphic design, Gamma aims to appeal to a broad demographic of PC/laptop users.
Throughout its life-span, GammaNow has been installed and used by nearly 692,000 instals of its associated RazerMiner software.
Be sure to check out GammaNow here.
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