(Alliance News) - Blue Star Capital PLC on Tuesday said its investee Dynasty Gaming & Media Pte Ltd has partnered with Vera Media Group to 'soft-launch' its new platform Lightning Dragon.
Shares in Blue Star jumped 30% to 0.12 pence each in London on Tuesday morning.
Under the 24-month term deal, Lightning Dragon will pay Dynasty a monthly licence fee, while the net revenue will be shared equally.
Crawley, England-based Blue Star, which invests in e-sports, gaming and blockchain companies, first invested in Dynasty in 2019 and has a 13% shareholding.
Blue Star noted Lightning Dragon is now live in the Philippines, and has already secured "significant partnerships" in the region. It added that Lightning Dragon expects to announce several more strategic marketing partnerships in the coming weeks across sectors including TV, radio, telcos, retail, esports tournament organisers and gaming content creators.
The official launch of Lightning Dragon will take place in the newt two weeks, Blue Star said.
Blue Star also noted its investee SatoshiPay Ltd's, in which it has a 28% stake in, recently announced 2022 results, in which it recorded a turnover of EUR
SatoshiPay recently announced its financial results for 2022 which showed turnover of EUR2.93 million and profit after tax of EUR587,000.
By Sabrina Penty, Alliance News reporter
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Blue Star (BLU)