ARAX Holdings Corp, a well-known player in the digital asset management industry, has recently made a significant move by acquiring a 20% stake in The Nemesis, an innovative open-world metaverse platform. This strategic investment not only reflects ARAX’s financial commitment but also signifies its dedication to shaping the future of digital interactions.
Ockert Loubser, the COO of ARAX, emphasized the broader impact of this acquisition, stating, “This acquisition is not just an investment; it’s a commitment to shaping the future of how we interact in the digital world.”
As part of the deal, The Nemesis will leverage Core Blockchain, a platform from ARAX’s recently acquired subsidiary, Core Business Holdings. The acquisition also grants ARAX the option to acquire an additional 11% stake in The Nemesis.
In tandem with this partnership, The Nemesis will integrate CorePass, the official wallet for Core Coin and Core Token. To enhance user experience, ARAX will collaborate with The Nemesis to develop connectors to CorePass using a Unity SDK.
ARAX envisions that this collaboration will extend its digital asset and management capabilities within the Core Business Holdings Ecosystem. The integration of Core Token and Core Coin is expected to increase demand, fostering growth and engagement.
The Nemesis, as a metaverse platform, operates on an Ethereum-based token called NEMS for transactions and in-game rewards. Additionally, non-fungible tokens (NFTs) are employed to represent ownership of virtual land claims, collectible companion characters, and in-game cars.
In its announcement, ARAX highlighted the substantial growth in the metaverse sector, attracting around 400 million monthly active users. The company pointed out projections indicating that by the mid-2030s, the metaverse could contribute €489 billion in economic impact in the EU and $760 billion in the U.S., based on external statistics.
This strategic move positions ARAX Holdings at the forefront of the evolving metaverse landscape, poised to capitalize on the growing digital economy and redefine the future of digital interactions.
