Animoca Brands – one of the leading blockchain gaming companies – is reportedly planning to cut ties with Russian customers in response to the country’s invasion of Ukraine.
- The Animoca brand is undoubtedly one of the biggest players in the GameFi industry, participating in the majority of projects in this area.
- in a press release from bloomberg news, The company revealed that it is cutting down its service for Russian customers.
- Somewhat expected, the move comes in response to the invasion of Ukraine.
- Speaking on the matter was Animoca co-founder Yat Siu, who said:
The legal advice we are getting is that now we have to put some restrictions. It is a sanctioned country equivalent to North Korea. The moment we stop doing business in those areas, we ourselves may be financially out of the financial system.
- The company will stop selling shares to any Russian investors, in addition to blocking Russian users.
- The decision will also impact subsidiaries including Limpo and Gamey.
- However, the co-founder said the number of Russian users is not large enough to have a substantial impact on the company’s results.
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