On September 18, COINOTAG reported that Boyaa Interactive International Co., Ltd., a publicly traded company in Hong Kong (00434.HK), has taken a strategic step by investing in the Web3 e-sports platform MTT ESports. According to the announcement, Boyaa will allocate 100 bitcoins (equivalent to approximately USD 5.8193 million) through a subscription agreement to acquire a 25% equity stake in MTT ESports. This e-sports platform is noteworthy for its development of Web3 infrastructure and its technological foundations in the Cosmos ecosystem, while also being compatible with the Ethereum Virtual Machine (EVM).
Previously, on May 23, Boyaa Interactive disclosed that as of that date, the company held about 1,956 bitcoins with an average cost of around USD 50,805 per coin, as well as roughly 15,222 Ethereums at an average cost of approximately USD 2,756 per coin. This strategic investment in MTT ESports highlights Boyaa’s significant financial commitment and forward-looking investments in the rapidly evolving cryptocurrency and Web3 spaces.