Crypto mining company Phoenix Group acquires 12.5% of Rekt Studios shares to enter the Web3 game market

Cryptocurrency mining company Phoenix Group, headquartered in Abu Dhabi, has announced the acquisition of a 12.5% stake in Web3 gaming and entertainment company Rekt Studios. The specific acquisition amount has not been disclosed. This transaction was facilitated through Phoenix Group's wholly-owned subsidiary, Phoenix INV Holdings, marking the company's strategic move beyond the cryptocurrency mining field. Rekt Studios mainly provides solutions for gamers to own, manage their gaming experience and assets, and profit from them.