Technology-driven firm Monaker Group is taking steps to tokenized assets with the partial takeover of Thailand's Longroot initial coin offering (ICO) portal. One day after the Nasdaq traded company acquired a third of Longroot minority shareholder Axion Ventures, an online video game development company, indirect ownership was established in the entity. It now leads one of moderately crypto-friendly Securities and Exchange Commission's few ICO portals in Thailand.
Monaker’s corporate communications director Richard Marshall said that Longroot could start hosting ICOs for the travel and video gaming communities next year. The director outlined Monaker’s display in the growing digital assets industry through this acquisition as an opportunity provider in terms of gaming and tech. Marshall said gaming is up with tourism down. While Monaker’s core business strategy targets gaming and travel, both could take advantage of tokenized proposals in the future.
“The broader business is really focused on delivering to the consumer, bringing technology, whether it’s vacation rental, gaming, in-game advertising...and with the cryptocurrencies in the ICO portal there’s an opportunity for that crossover.”