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Animoca Brands, a leading company in the Open Metaverse and Web3, has made an undisclosed investment in Param Labs, a gaming infrastructure startup based in the UAE.

  • Partnership: This investment strengthens the existing partnership between the two companies and aims to accelerate the development of Param Labs’s scalable Web3 infrastructure and expand its ecosystem.
  • Expansion: Animoca Brands has expanded its presence in the MENA region through partnerships with NEOM and King Abdulaziz City for Science and Technology.
  • Game Development: Param Labs develops video games and infrastructure for the next generation of gaming, including its flagship Web3 multiplayer third-person shooter game, Kiraverse.

Anthony Anderson, Param Labs’ founder and CEO, expressed that they plan to utilize their recent funding to further develop and expand their existing products, as well as to advance their ecosystem initiatives and encourage community engagement.

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