TechFlow news: Mainland Chinese gaming company Boyaa Interactive announced yesterday that it has acquired a 25% stake in Web3 gaming operator MTT ESports for 100 bitcoins (approximately $5.819 million or HK$45.39 million). Notably, due to the recent appreciation of bitcoin, Boyaa Interactive achieved an effective cost saving of about 10% on this transaction.
MTT ESports primarily operates Web3 infrastructure and game development and operations, owning the MTT Sports gaming platform and MTT Network. MTT Sports is an esports platform supporting both PC and mobile devices, aiming to build an internationally top-tier competitive gaming brand. MTT Network is a blockchain based on the Cosmos ecosystem that provides technical support for MTT Sports, enhancing the competitiveness, fairness, and security of esports events.
As of the end of June, Boyaa Interactive held 2,410 bitcoins at an average cost of $51,856 per coin.
