RiverFort Global Opportunities PLC Update on investment in Pluto Digital Assets plc
22 Dicembre 2021 - 10:58AM
RNS Non-Regulatory
TIDMRGO
RiverFort Global Opportunities PLC
22 December 2021
22 December 2021
RiverFort Global Opportunities plc
("RGO" or the "Company")
Update on investment in Pluto Digital Assets plc
RGO, notes an update made by its investee company, Pluto Digital
Assets plc ("Pluto"), a technology company that is operating in the
exciting digital assets sector and one of the Company's pre-IPO
investee companies. A summary of an update that has recently been
provided by Pluto to its shareholders is provided below.
Further details of the Pluto shareholder update can be found at
https://plutodigital.medium.com/pluto-enters-the-play-to-earn-crypto-games-market-37e5b8885529
.
Metaverse acquisition and joint venture
Pluto has recently acquired a strategic holding in a leading
UK-based computer gaming software studio which marks its entrance
into the Play2Earn ("P2E") market. P2E refers to the concept of
gaming in which a platform provides its players with a chance to
earn a form of in-game assets that can be transferred to the real
world as a valuable resource. P2E has become an exciting area of
cryptocurrency, with the initial P2E games securing substantial
token market capitalisations, such as Axie Infinity (market cap of
$6 billion) and Gala Games (market cap of $3 billion).
In addition to acquiring this strategic holding, Pluto and the
computer gaming studio are in the process of forming a joint
venture to launch a suite of blockchain-enabled games. This
investment and joint venture, further details of which are expected
to be announced in early January 2022, have already progressed the
concept development of new portfolio of games and will focus on
high quality gamer experiences, with the added benefit of providing
the gamers with the ability to acquire and monetise game assets.
During 2022, Pluto expects to launch Non-fungible Tokens ("NFTs")
and tokens that will secure funding for the development of these
games without requiring additional equity capital.
Pluto Ventures
During the year, the Pluto Ventures division invested circa $5
million across 90 different early-stage digital ventures comprising
different verticals, including Decentralised Finance ("Defi"), NFTs
and P2E gaming.
The first quarter of 2021 was dominated by Defi and NFT-related
technologies, with P2E becoming much more prominent during Q2 2021
and remaining a key area of focus throughout the rest of the year.
Pluto noted that the value of its investments in listed tokens has
increased significantly and it has also sought to de-risk positions
during times of relative strength during the year. Approximately
one third of its listed tokens portfolio derives from P2E gaming
and Gaming Guilds and these tokens have performed exceptionally
well in 2021.
Pluto's portfolio of NFTs has also performed strongly,
particularly the projects acquired during Q2 2021. More generally,
activity in and the prominence of the NFT sector has increased
markedly, partly through partnerships, which include companies such
as XCAD Network and Good Games.
YOP
As announced by the Company on 1 October 2021, Pluto acquired
the assets of the innovative DeFi project, Yield Optimisation
Platform ("YOP"). Since its acquisition, the Pluto Labs product
team has grown significantly. Pluto has also released a roadmap for
the next 12 months for YOP, and the company has been working on a
YOP whitepaper which outlines its plans for the updated YOP
ecosystem across multiple protocols and blockchains. In addition,
the company has progressed both the revised Tokenomics, with a
focus on the long-term sustainability of the protocol, and the
redesign of YOP website, which it intends to launch in January
2022. Pluto also expects to privately release its platform to YOP
NFT token holders in February 2022.
RGO holds 21,666,667 shares in Pluto which are carried at a
valuation of 6p per share based on the company's last funding
round, notwithstanding the progress being made by the company since
that date.
Philip Haydn-Slater, Non-executive Chairman of RGO
commented:
"We are pleased to note the excellent progress made by Pluto. By
way of its strategic shareholding and joint venture with a leading
UK-based computer gaming software studio, the company is now
entering the exciting P2E market, where it intends to release a
suite of blockchain-enabled games.
Pluto's Ventures division has also reported the value of its
listed tokens increase significantly with a strong performance
across its portfolio of NFTs, when NFTs are continuing to gain
increased mainstream attention.
We firmly believe that our investment in Pluto will continue to
grow in value as the company implements its growth strategy."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8978
Philip Haydn-Slater
Nicholas Lee, Director
Joint Broker Tel: +44 (0) 20 7562 3351
Peterhouse Capital Limited
Lucy Williams
Joint Broker Tel: +44 (0) 20 7186 9950
Shard Capital Partners LLP
Damon Heath
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