UAE’s Phoenix Group, a crypto mining firm, buys 12.5% of Rekt Studios, focusing on Web3 gaming. Phoenix aims to diversify beyond mining, states a Tuesday release. The undisclosed deal is strategic for advancing in Web3 gaming. Rekt Studios, UAE-based, specializes in immersive Web3 gaming experiences, potentially transforming the industry. CEO Elie Rizk anticipates empowering gamers to own, manage, and profit from their gaming.
Phoenix Group expands into Web3 gaming with strategic investment
