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In an official statement released on January 1st, the gaming platform Litemint, and Stellarport, which is part of Stellar ecosystem, announced that the two companies have entered an agreement in which Litemint will be acquiring Stellarport.
The press release states that Stellarport provides a compact multi-assets crypto wallet, and conducts and anchors the services and operations for Stellar Decentralized Exchange. Litemint will soon become a key player in the blockchain-based markets, merging $68.5 billion mobile gaming industry with blockchain technology.
Litement will work towards providing gamers with a platform where they can receive new opportunities with collectibles, non-fungible items and other tokenized game assets. The new features will be made available using blockchain technology.
Both companies are positive that the acquisition will prove to be beneficial in the long run and after the agreement, the expanded business will provide the large pool of consumers in the gaming and crypto industry with new opportunities that were not made possible before.
Connecting Crypto & Blockchain with Gaming
Ishai Staruss and Frederic Rezeau, founders of both Stellarport and Litemint respectively have stated that they are optimistic and believe that proceeding with the acquisition will bring about the beginning of a massive and powerful aggregate, fully geared for mass adoption within the ecosystem of Stellar. With over 100,000 users, Stellarport has become an important aspect of the Stellar ecosystem and bringing the new users into Litemint will introduce a new demographic to the gaming industry.
Both Staruss and Rezeau also added in the press release published that Stellarport is a crucial asset that would present strong operating synergy right off the bat with Litemint. They believe that the merge of crypto consumers and gamers will provide both industries with huge opportunities with assets that are digitally tradable. The dynamics of cryptocurrency and blockchain industry with the gaming industry will join together to pave way for newer and more exciting projects and the acquisition will just be a stepping stone.
The talks between both companies have finally come to an end as the concluding statement of the press release confirms that the definitive agreements had reached completion by the end of last year (December 30th), and the operations transfer following the acquisition has commenced and will be carried out and completed by this month.