Update on investment in Pluto Digital plc

RNS Number : 7359A

Pires Investments PLC

04 February 2022

 

4 February 2022
 

Pires Investments plc

("Pires" or the "Company")

Update on investment in Pluto Digital plc

Pluto announces joint venture to form new gaming blockchain and metaverse studio

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on its investment in Pluto Digital plc ("Pluto"), a technology company operating in the exciting digital assets sector.

As part of the recent announcement by NFT Investments plc (AQSE:NFT) regarding its proposed acquisition of Pluto, it was announced that Pluto is now working alongside Maze Theory Limited ("Maze Theory"), a London-based digital entertainment studio, to release high quality games that incorporate token economics to empower the next generation of gamers. Maze Theory is an immersive gaming studio led by experienced industry veterans from PlayStation, Activision and NCSoft and has released critically acclaimed games across virtual reality, PC, mobile and console including: Doctor Who: The Lonely Assassins (mobile and console) and Doctor Who: The Edge of Time (VR) with Peaky Blinders: The King's Ransom (VR) launching soon. 

Pluto has now announced the formation of a new gaming blockchain and metaverse studio, called Emergent Games, as part of a joint venture between Maze Theory and Pluto. Pluto will provide an investment pipeline for the new joint venture and has already invested £4 million in Maze Theory, making Pluto its largest investor, in order to facilitate the studio's growth and strengthen its expertise in virtual reality ("VR").

Further information on the announcement can be found at https://plutodigital.medium.com/pluto-digital-and-maze-theory-joint-venture .

Nicholas Lee, Director of Pires, commented:

"We are delighted to note Pluto's recent partnership with London-based digital entertainment studio Maze Theory. The joint venture demonstrates Pluto's continued progress and strengthens its position at the forefront of the new decentralised gaming sector."

Enquiries:

Pires Investments plc Nicholas Lee, Director	Tel: [phone]
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: [phone] Tel: [phone]
Joint Broker Tennyson Securities Peter Krens	Tel: [phone]
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills	Tel: [phone]

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/

About Pluto Digital plc

Pluto Digital PLC ("Pluto") is a crypto technology and operations company whose goal is to bring Decentralised Finance (DeFi) and Metaverse (blockchain gaming and NFTs) to the global economy. Pluto is making DeFi available to everyone through products and services created by Pluto's software development Labs division, new yield farming strategies through Pluto's Yield division and collaborating with emerging DeFi projects and the NFT metaverse through Pluto's Ventures division.

For further information, visit:  https://plutodigital.com  

About Maze Theory

Maze Theory is an immersive gaming studio led by experienced veterans from PlayStation, Activision, Disney, BBC and NCSoft. Recent expansion has seen the business grow to over 40 people with the team comprising multiple award-winning developers and creatives. The game portfolio includes critically acclaimed games across virtual reality, PC, mobile and console including Doctor Who: The Lonely Assassins (mobile and console) and Doctor Who: The Edge of Time (VR) with Peaky Blinders: The King's Ransom (VR) launching soon.

For further information, visit: https://www.maze-theory.com  

This communication is a "Reach" announcement. Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained in this announcement is of a non-regulatory nature. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

 

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