Qishin Tariq · · 1 min readThai metaverse firm buys major stake in local esports startup
Metaverse firm Translucia has taken a major stake in Thailand-based Infofed as part of a joint-venture deal to promote esports in Southeast Asia.
Photo by ELLA DON on Unsplash
While the size of the deal was kept undisclosed, it’s estimated to be in the eight-digit range in USD.
Infofed uses online and offline platforms to provide solutions for game providers, consumer brands, and esports communities. Meanwhile, Translucia is a metaverse developer and hub under Thai entertainment major T&B Media Global.
The two companies plan to set up an esports boot camp as part of a plan to make Thailand into a regional hub. They are also looking to develop esports content for Translucia’s metaverse.
In 2019, Infofed raised pre-series A funding to fuel its Southeast Asia expansion. It aims to be the region’s esports industry leader by 2025.
T&B Media Global launched Translucia in September 2021 with an initial US$260 million investment. Earlier this month, it partnered with Swiss digital asset bank Sygnum for a US$300 million hybrid equity-NFT fundraise.
See also: Behind the metaverse real estate rush
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
