Crypto gaming giant Animoca is the latest blockchain company to cut ties with Russia following the ongoing crisis in Ukraine.
According to the latest report, it will be cutting its service for Russian users amid the heavy pounding of sanctions posed to the crypto businesses worldwide.
Animoca to Impose Restrictions in Russia
According to the latest report by Bloomberg, Yat Siu, the co-founder of Animoca said that he was aware of this decision for Lympo and other subsidiaries. However, he clarified that a few Russian customers were not enough to affect the firm's performance on a wide scale.
"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," Siu said.
Previously, the US Treasury Department announced the sanctions that Russia will face financially. Meanwhile, the EU decided to slap the country by removing Russian banks from SWIFT.
Although people wanted Ukraine to impose heavy punishment for Russian users when it comes to cryptocurrency, several exchanges have opposed the idea.
For Animoca, the decision to cut its service for its Russian customers will mean another thing: selling of shares to the Russian investors will also stop.
Regarding its subsidiaries, Lympo said that it would now end the posting of Russian athlete NFTs (non-fungible tokens). In addition, the firm would now stop negotiating with the Russian athletes in line with the NFT Ecosystem.
Gamee, on the other hand, posted last Feb. 24 that it would now shut down operations to Russia as part of its disagreement for its actions against Ukraine. The tweet can be seen here.
Related Article: Blockchain Game Firms' Ask Valve to Lift Steam Ban on NFT Games in Open Letter
Animoca's Current Blockchain Projects
According to the official website of Animoca Brands, the company is currently operating eight blockchain projects at the moment.
The first one is "Revv Motorsport" which is similar to other racing games in the metaverse. As an investor, you will be allowed to collect in-game NFT items and assets. The primary token of this game is REVV.
Another new play-to-earn game under Animoca is "Revv Racing." This blockchain gaming racing sim allows you to drive and drift your car from a first-person POV. This game borrows some inspiration from traditional driving games, but with the incorporation of NFTs.
Animoca also has "The Sandbox" which is intended for VR players who love building worlds. This game uses SAND as its main token. It is used for all transactions in the game including buying and selling assets.
For RPG lovers, Animoca presents "Phantom Galaxies" which features mecha-gaming-inspired robots and avatars. If you are a tower-defense player, you might want to test its "Tower Experiment" for a change.
Lastly, the Formula 1-licensed blockchain game "F1® Delta Time" runs on the ETH blockchain for its NFTs.
In another report, Zynga is planning to jump on blockchain gamification, according to Tech Times. T
Read Also: New SaitaMask Crypto Wallet Passes CertiK Auditing Certification | More About $SAITAMA Tokens
This article is owned by Tech Times
Written by Joseph Henry
