BANXA Holdings Inc (TSX-V:BNXA, OTCQX:BNXAF) told investors it has integrated with Animoca Brands' AFL Mint and Be. platforms in a move it said will streamline and enhance the digital collectible purchasing process for Australian Football League (AFL) fans.
Describing Animoca Brands as a digital entertainment, blockchain, and gaming powerhouse, Banxa said in a statement that the initial pilot project creates the potential to eventually integrate its infrastructure into Animoca Brands' extensive portfolio of games, decentralized apps, and more.
Additionally, Banxa said its NFT Checkout and on/off ramp integration means anyone with a bank card can access the AFL Mint Marketplace, where AFL fans can collect digital video moments showcasing their favorite players and teams and also connect with fellow fans.
“AFL Mint is creating such a vibrant community, providing unique and authentic experiences for long-time fans to connect with their favorite teams and players,” Banxa CEO Holger Arians commented.
“That’s why Banxa is so eager to make the marketplace even more accessible and seamless with our payment solutions, which will boost mainstream adoption among sports fans and easily on-board them to the exciting new realm of Web3.”
As well as simplifying the purchase procedure, Banxa noted that its payment solution also enhances conversion rates and the speed of transactions. Additionally, it empowers fans in Australia with fully compliant and locally tailored payment methods such as PayID, credit cards and Apple and Google Pay.
"As a leader in the new age of online experiences, we have a deep understanding of the many challenges that users face when navigating the Web3 space. Banxa's seamless transaction capabilities beautifully align with our mission, as evidenced through these newly optimized AFL Mint NFT purchasing capabilities,” Animoca Brands' Jordan Fogarty added.
“Banxa is reshaping the landscape of digital transactions, dissolving barriers, and propelling a new wave of innovation.”
Working capital facility
In a separate announcement, Banxa said TIGA Trading Pty Ltd (Thorney's Technology Fund) has extended the maturity date on its A$2 million working capital facility by four and a half months to January 17, 2024, after earlier extending it from April 20 to August 20, 2023.
The company said the facility will support growing transaction volumes which require increased working capital to fulfil orders, especially where some settlements from payment service providers are delayed by up to four days.
It intends to issue 600,000 common share purchase warrants to TIGA Trading in consideration for agreement to the loan extension.
Contact the author at stephen.gunnion@proactiveinvestors.com