Phoenix Group Fuels Web3 Revolution with New Lyvely Investment
Revolutionising Online Interaction and Monetisation
Phoenix Group PLC, a global leader in blockchain technology, has taken a significant leap into technology and Web3 by strategically investing in Lyvely, a dynamic UAE-based platform. This strategic move reinforces Phoenix’s steadfast commitment to driving innovation at the forefront of the digital revolution, primarily focusing on empowering creators and reshaping the future of social interaction.
With Phoenix’s strategic investment, Lyvely’s revolutionary platform transcends the boundaries of traditional e-commerce. It creates a thriving environment for direct-to-consumer relationships through a unique blend of Web2 and Web3 features. Lovely, scheduled to launch its digital currency in Q1 2024, empowers creators by providing seamless monetisation opportunities, offering consumers exclusive access and personalised experiences.
Phoenix Group’s Vision for Innovation
Bijan Alizadeh, Co-Founder and Group CEO of Phoenix Group, emphasised that the investment in Lyvely goes beyond merely acquiring a stake in a company; it is an investment in the future of the digital and creator economy. Bijan expressed pride in investing in Lyvely, a UAE homegrown platform that represents a revolutionary fusion of Web 2 and Web 3 capabilities, poised to redefine how creators and consumers interact digitally. This strategic move aligns with Phoenix Group’s commitment to leading the tech industry with trailblazing initiatives.
Strategic Alliance for Digital Empowerment
Farah Zafar, CEO of Lyvely and MD & Group CLO of Phoenix Group, highlighted that the investment represents a strategic alliance between a Web3 powerhouse and tech innovators sharing the collective vision of revolutionising online monetisation and empowering everyone’s digital and Web3 footprint. Farah emphasised that Lyvely’s unique blend of social e-commerce and content monetisation, powered by Web3 capabilities, has the potential to disrupt the status quo and empower creators and users alike. Together, the aim is to push the boundaries of digital experiences and lead the way in this rapidly evolving landscape.
Synergy for Technological Growth
Dave Catudal, Co-founder of Lyvely, expressed enthusiasm about Phoenix’s expertise in the cryptocurrency sector, complementing Lyvely’s mission. Dave highlighted that Phoenix’s investment and support validate Lyvely’s vision and will significantly enhance its technological capabilities and growth trajectory in the Web3 space.
Pivotal Moment for the Digital Economy
This strategic investment by Phoenix Group is more than a mere capital infusion; it signifies a partnership between a major player in the Web3 world and a pioneering consumer tech platform. This collaboration marks a pivotal moment for Phoenix Group and Lyvely as they join forces to redefine the digital economy and pave the way for unprecedented opportunities and digital innovation.
On December 6th, Phoenix Group PLC achieved a milestone with its $380 million investment deal with WhatsMiner, a key player in crypto mining equipment. Following its debut on the Abu Dhabi Securities Exchange (ADX), Phoenix Group embraced sustainable mining practices by acquiring innovative hydro-cooling equipment from WhatsMiner. This technology, known for its efficient heat transfer and reduced environmental impact, allowed Phoenix Group to establish high-performance computing (HPC) data centres, solidifying its position as an industry leader. This strategic partnership with WhatsMiner marked a crucial step towards a more responsible and efficient era in crypto mining.
About Phoenix Group PLC
Phoenix Group PLC is a global leader in blockchain technology, focusing on Bitcoin mining and infrastructure. The company is committed to driving innovation and fostering groundbreaking tech startups, with a diversified portfolio that spans diverse industries.
