Animoca Brands – one of the leading blockchain gaming companies – is reportedly planning to cut ties with Russian customers as a response to the country’s invasion of Ukraine.
Animoca Brands is undoubtedly one of the biggest players in the GameFi industry, participating in a majority of projects in the field.
In a press release from Bloomberg News, the company revealed that it’s cutting its service to Russian customers.
Somewhat expectedly, the move comes in response to the invasion of Ukraine.
Speaking on the matter was Yat Siu, co-founder at Animoca, who said:
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.
The company will stop selling shares to any Russian Investors, in addition to blocking russian users.
The decision will also affect subsidiaries, including Lympo and Gamee.
However, the co-founder said that the number of Russian users isn’t that large enough to have a substantial impact on the results of the company.
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