Amber Premium partners with CMGE to develop gaming franchise Web3 assets

SINGAPORE - Amber International Holding Limited (NASDAQ:AMBR) has formed a strategic partnership with CMGE Technology Group Limited (HKEX:0302.HK), a gaming company currently trading at notably low valuation multiples, to support the gaming company’s Web3 initiatives, according to a press release statement issued Monday.

The collaboration will focus on accelerating the real-world asset (RWA) plan for CMGE’s 30-year-old gaming franchise, The Legend of Sword and Fairy, subject to regulatory approvals. According to InvestingPro data, CMGE faces current challenges with profitability and analysts anticipate sales decline this year, making this Web3 initiative particularly significant for the company’s growth strategy.

Under the agreement, Amber Premium will provide CMGE with technology infrastructure, Web3 advisory services, and wallet security solutions. These services include blockchain integration and secure digitalization tools to help CMGE explore new applications for its intellectual property assets. Want deeper insights? InvestingPro offers 6 additional key tips about CMGE’s financial position and market outlook.

CMGE recently unveiled its Web3 business roadmap, which includes RWA tokenization of The Legend of Sword and Fairy IP, a Web3 payment aggregation tool supporting various currencies, and a decentralized esports platform called "KKFun Esports" planned for launch between late 2025 and early 2026. The company is pursuing this digital transformation while operating with a moderate level of debt and experiencing significant share price decline over the past five years.

Vicky Wang, President of Amber Premium, said the company will provide "institutional-grade security for CMGE’s Web3 initiatives" while CMGE’s Chairman and CEO, Xiao Jian, noted that Amber Premium’s capabilities will "establish a secure and compliant foundation for our Web3 operations."

Amber Premium, which operates as a subsidiary of Amber Group, provides digital asset financial services to institutions and high-net-worth individuals. CMGE is an IP-oriented game operator that was previously listed on NASDAQ in 2012 before being privatized in 2015 and subsequently listing on the Hong Kong Stock Exchange in 2019.

In other recent news, Trimble and KT Corporation have announced a collaboration to deliver precise positioning services across South Korea. The partnership will utilize the Trimble RTX Fast network to provide bundled telecom, correction, and precise positioning services. This collaboration aims to offer centimeter-level accuracy for applications in the automotive and Internet of Things (IoT) sectors. The initiative is expected to enhance the capabilities of automotive manufacturers and IoT companies in South Korea. The announcement was made through a press release, highlighting the strategic importance of the partnership. This development marks a significant step in advancing technology infrastructure in the region.

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