Thai 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