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