ARAX Holdings Corp, a prominent player in digital asset management, has recently acquired a 20% stake in The Nemesis, a cutting-edge open-world metaverse platform. This strategic move, announced on Dec. 5, includes an option for ARAX to acquire an additional 11% stake in the future.

The Chief Operating Officer of ARAX, Ockert Loubser, highlighted the significance of this acquisition, emphasizing its potential to redefine interactions within the digital realm. The Nemesis operates on an Ethereum-based token system, utilizing NEMS for transactions and as in-game rewards. The platform also integrates non-fungible tokens (NFTs) to represent virtual assets like land, companion characters, and vehicles.

This partnership will see The Nemesis deploying on Core Blockchain, a platform owned by Core Business Holdings, a subsidiary recently acquired by ARAX. The asset manager also announced the deployment of the native Core Token in November.

ARAX’s collaboration with The Nemesis will involve the integration of CorePass, the designated wallet for Core Coin and Core Token. The plan is to develop connectors for CorePass using a Unity SDK, enhancing the utility and reach of digital assets.

This strategic partnership is expected to enhance ARAX’s digital asset management capabilities within the Core Business Holdings Ecosystem. The move aims to increase demand for Core Token and Core Coin, while also opening up new customer engagement opportunities across sectors like fintech, healthcare, and industrial solutions.

Underlining the growing importance of the metaverse, ARAX pointed to statistics showing approximately 400 million monthly active users in this sector. It is projected that by the mid-2030s, the metaverse could generate significant economic impacts in regions like the EU and the U.S.

This development aligns with the European Union’s strategy to become a leader in virtual world development, promoting new standards and global governance in the metaverse.

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