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Polygon Labs acquires web3 gaming infra outfit Sequence for a rumored $125 million
The renewed dynamism of Polygon blockchain developer Polygon Labs continues apace with the information that it’s acquired two net infrastructure firms – Sequence and Coinme – in a deal value $250 million, almost definitely a mix of money, fairness and crypto.
The worth of the person components of the deal between the 2 firms wasn’t formally disclosed, though earlier rumors prompt Polygon was paying round $125 million for Coinme, suggesting a reasonably even cut up.
Sequence was based as Horizon Blockchain Video games in Canada in 2018, shortly launching its TCG Skyweaver. Nonetheless, over time its enterprise has turn out to be more and more centered on offering instruments for sport builders to deal with complicated blockchain infrastructure together with social sign-in wallets, minting, marketplaces and funds.
It first signed a cope with Polygon in 2023 when it grew to become the blockchain’s most well-liked pockets associate.
In whole, Sequence raised round $50 million from traders together with Brevan Howard Digital, Morgan Creek Digital and Bitkraft.
Builders utilizing its know-how included Ubisoft, Magic Eden, ApeChain, Immutable and TapNation.
As for Coinme, it’s a funds and banking infrastructure outfit, working with finance and DeFi firms. It additionally has entry to 50,000 retail areas within the US providing fiat-to-crypto companies, together with round 6,000 of its personal Bitcoin ATMs. On this method, Coinme helps cope with points akin to compliance and KYC. Its platform is absolutely licensed and controlled in america.
Coinme has raised round $35 million from traders together with Pantera Capital, DCG, Ripple, Circle, Coinstar, and MoneyGram.
Polygon Labs’ exercise follows a renewed push to supply greater than pure blockchain companies right into a extra full infrastructure ecosystem, one thing it now calls the Polygon Open Cash Stack. Its said aim is to turn out to be a regulated US funds supplier.