ARAX Holdings Corp, a major player in digital asset management, has recently made a significant move in the metaverse space by acquiring a partial stake in The Nemesis, an open-world metaverse platform. The company announced on December 5th that it has acquired a 20% stake in The Nemesis, with the option to acquire an additional 11% stake in the future.
Ockert Loubser, COO of ARAX, expressed that the acquisition is more than just an investment, but a commitment to shaping the future of digital interactions. As part of the deal, The Nemesis will be deployed on Core Blockchain, a platform owned by ARAX’s subsidiary, Core Business Holdings. Additionally, ARAX will work with The Nemesis to develop connectors to CorePass using a Unity SDK.
The Nemesis is a metaverse platform that utilizes an Ethereum-based token called NEMS for payments and as an in-game reward token. The platform also incorporates non-fungible tokens (NFTs) to represent ownership of virtual land claims, collectible companion characters, and in-game cars.
ARAX’s strategic partnership with The Nemesis is expected to expand its digital asset and management capabilities through the Core Business Holdings Ecosystem, as well as increase demand for Core Token and Core Coin. The company believes that this move will help it engage with customers and potentially lead to developments in fintech, healthcare, and other industry solutions.
According to ARAX, the metaverse sector has already attracted approximately 400 million monthly active users and could have a massive economic impact by the mid-2030s. They cited statistics projecting a potential economic impact of €489 billion in the EU and $760 billion in the U.S.
Overall, ARAX Holdings’ acquisition of a stake in The Nemesis demonstrates its commitment to innovation and leadership in the digital asset management space. The partnership is poised to drive significant developments in the metaverse sector and is expected to have a major impact on the future of digital interactions.