Animoca Brands has received a strategic investment of $1.08m from Lympo and Sun Hung Kai.

The Hong Kong-based publisher will use the funds raised to research and develop products utilizing blockchain and artificial intelligence technologies.

Sun Hung Kai, a Hong Kong investment firm, contributed $721,500 towards the investment. The company will provide corporate development expertise to help Animoca with its tech advancements.

Blockchain fitness company Lympo invested the other $360,700. The firm creates fitness apps integrated with its own crypto tokens and is looking to discuss areas of further collaboration with Animoca Brands.

Chain reaction

“It is a singular honour that Sun Hung Kai, one of Asia’s most renowned financial powerhouses, chose Animoca Brands as its partner and strategic investee,” said Animoca co-founder and director Yat Siu “Sun Hung Kai’s know-how and established network has the potential to significantly accelerate business opportunities for Animoca Brands.”

“The existing collaboration between Lympo and our health and fitness subsidiary OliveX is progressing well. Today we are extremely pleased to see this relationship further solidified by Lympo’s strategic investment in Animoca Brands. As a leader in blockchain for sports and health, Lympo provides us with highly focused growth opportunities.”