Hong Kong-headquartered blockchain gaming and Web3 investment group Animoca Brands has agreed to allocate up to $100 million in Bitcoin to Asian food giant DDC Enterprise Ltd under a newly signed strategic partnership, according to an announcement.
The deal will see Animoca allocating the said amount in Bitcoin towards yield enhancement strategies operated by DDC. As part of the agreement, DDC will operate the strategies using Animoca’s Bitcoin assets.
The agreement also sees Yat Siu, co-founder and executive chairman of Animoca Brands, joining DDC’s newly formed Bitcoin Visionary Council to provide strategic leadership and guidance to ensure the company’s Bitcoin treasury operations align with industry standards, per the announcement.
Neither company disclosed when the partnership would take effect or specific details on the yield strategies involved. The agreement is non-binding and subject to further negotiation.
“This partnership with Animoca Brands marks a transformative step for DDC and reflects our shared vision to accelerate Bitcoin’s role as a pristine monetary asset,” said Norma Chu, chairwoman, founder, and CEO of DDC.
Listed in New York, DDC has positioned Bitcoin as a core reserve asset while continuing to grow its portfolio of culinary brands, including DayDayCook, Nona Lim, and Yai’s Thai.
As of July 7, the company reportedly held 368 BTC, valued at around $43.3 million.
Animoca Brands, on the other hand, is a global leader in blockchain-based gaming and tokenisation.
“Through this partnership, we will focus on developing strategies to enhance Bitcoin’s value proposition, leveraging DDC’s commitment to advancing corporate Bitcoin treasury solutions,” Animoca’s co-founder and executive chairman Yat Siu said.
Founded in January 2014 by Siu and David Kim, Animoca Brands currently sources its sales activities through digital asset advisory (DAA), Web3 operating businesses, and investment management.
The company is considering the US as one of its preferred listing destinations besides Hong Kong and the Middle East, Siu earlier said.
Animoca Brands reported “total sales activity” of $108 million in Q4 2024, up 170% compared with $40 million a year ago. Total sales activity, also known as ‘bookings’, combines revenue reflected on the income statement and deferred revenue, which is a liability on the balance sheet.
