Quick take:
- Ayre Group has acquired a controlling stake in nChain.
- The deal, which includes nChain Stock, licensing deal for Ayre ventures and a credit line is valued at $570 million.
- Calvin Ayre said his company will accelerate the development of nChain’s IP library, which it has been building for the better part of the last 10 years.
Calvin Ayre’s Ayre Group is ramping up its intellectual property rights portfolio with the acquisition of a controlling stake in nChain.
nChain has been building a web3 IP library for the better part of the last 10 years. To date, the company claims to have been awarded nearly 800 technology patents with over 3000 more awaiting approval.
Ayre Group’s intentions are to accelerate the development of nChain’s IP library with the web3 startup seeking to spearhead the campaign for the transition from web2 to web3.
nChain was founded in 2015 by the London-based Dr Craig Wright, a popular figure in the world of information technology and IT security.
The company’s IP portfolio features solutions for both fintech and crypto spaces including a web3-based digital asset as a service, a supply chain tracking mechanism, cross-border payments and Central Bank Digital Currency solutions, among others.
Commenting on his company’s controlling stake, Ayre Group founder Calvin Ayre said: “For the better part of a decade, nChain and its London-based Chief Scientist Dr Craig Wright have been quietly amassing a patent portfolio of unparalleled scope, literally the foundational elements of enterprise blockchain, AI and Web3. My goal is to accelerate the pace of nChain’s development and increase the commercial adoption of its extensive IP library.”
According to Ayre, all blockchain or web3 companies have been built on nChain’s patent library. “[It is] the earliest, largest, and highest quality collection in this space.”
nChain backs that sentiment with its claim of its IP being the DNA of the new internet, which cuts across all things web3 including non-fungible tokens (NFTs), smart contracts, blockchain games and much more.
On the other hand, Christen Ager-Hanssen, nChain´s Group CEO commented: “nChain’s bold mission is to catalyse an unprecedented transformation, propelling the world from Web2 to Web3 at an astounding pace. This ground-breaking shift will not only revolutionise our lives but also shake the very foundations of industries far and wide.”
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