Animoca Brands – one of the leading blockchain gaming companies – is reportedly planning to cut ties with Russian customers as a response to the country’s invasion of Ukraine.
- Animoca Brands is undoubtedly one of the biggest players in the GameFi industry, participating in a majority of projects in the field.
- In a press release from Bloomberg News, the company revealed that it’s cutting its service to Russian customers.
- Somewhat expectedly, the move comes in response to the invasion of Ukraine.
- Speaking on the matter was Yat Siu, co-founder at Animoca, who said:
The legal advice we’ve been receiving is we now have to impose some restrictions. It’s a sanctioned country on par with North Korea. The moment we end up doing business in those areas, we might ourselves become financially excluded from the financial system.
- The company will stop selling shares to any Russian Investors, in addition to blocking russian users.
- The decision will also affect subsidiaries, including Lympo and Gamee.
- However, the co-founder said that the number of Russian users isn’t that large enough to have a substantial impact on the results of the company.