Animoca Brands acquires Prosper and the Prosper Token (PROS)
10 September 2021 -- HONG KONG -- Animoca Brands announced today that it has acquired the Prosper platform and its assets including the token reserve of Prosper Tokens (PROS) within Prosper’s possession. The acquisition is not considered to be material.
Prosper is a non-custodial cross-chain prediction market and hedging platform that allows people to make predictions about the outcomes of various events. Prosper is developing a unique technological infrastructure of on-chain liquidity aggregation to solve problems within the overall prediction and prediction markets. The platform includes interoperability elements from different networks across the blockchain ecosystem.
PROS is the ERC-20 native utility token of the Prosper platform, where it is used for governance, creating custom prediction pools, prediction insurance, commission rate discounts, and other functions. PROS is currently listed on the Binance exchange and Uniswap and is available for the Ethereum, Polygon, and Binance Smart Chain blockchains. Following the acquisition, PROS will also be made available on Sushiswap and Pancake Swap.
Prosper taps into the wisdom of crowds effect, the idea that large numbers of people are collectively more accurate at predicting outcomes than individual subject experts.
Animoca Brands considers Prosper to be a strategic acquisition that offers potentially synergistic use cases for Prosper’s prediction services for Animoca Brands’ games and NFT-based products. Animoca Brands also believes that PROS has strong potential to provide added utility to some of the company’s GameFi projects, including offering prediction markets for NFT ecosystems and metaverses as well as other added utility. Some examples include making predictions on the resolution of events and outcomes such as voting for token holders and DAOs, effectively acting as a decentralized “oracle” service.
Vladislavs Semjonovs, co-founder and CEO of Prosper, commented: "We are excited to take Prosper into the future with Animoca Brands. This acquisition makes us a part of Animoca Brands, allowing us to leverage industry expertise and connections that are generally not available to other prediction markets. We will be able to tap into and explore prediction in the completely new environment of the metaverse."
Yat Siu, the chairman and co-founder of Animoca Brands, commented: “The Metaverse will require tools and frameworks that are capable of tapping into the wisdom of crowds. Prediction services like Prosper can be leveraged into essential components of dispute resolution, in addition to generating intelligence on the constituents and usage of decentralized environments. With this acquisition, we are also thrilled to have the opportunity to expand PROS beyond prediction services as well as into GameFi applications.”
About Animoca Brands
Animoca Brands, ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification. Animoca Brands develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Formula 1®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds. Its subsidiaries include The Sandbox, Blowfish Studios, Quidd, Gamee, nWay, Pixowl, and Lympo. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.
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