LONDON (Alliance News) - Online Blockchain PLC said Thursday it will acquire 35% stake in a US-based gaming software startup for USD100,000.
The UK-listed company focused on cryptocurrency projects has subscribed for shares in Encryptid Gaming Inc, a crypto-gaming software development company. Online Blockchain's investment, which is funded from existing cash resources, is payable over a period of time based on development milestones being achieved by Encryptid.
"I have worked in and been at the forefront of the gaming world since the early 1980s and the advent of blockchain technology opens up a range of new potential gaming opportunities," said Online Blockchain Chief Executive Clem Chambers.
Shares in Online Blockchain were down 16% at 37.52 pence each on Thursday morning.
