Astar Network and Animoca Brands Partner to Boost Web3 and Blockchain Gaming Growth in Asia
Astar Network (ASTR) has formed a strategic partnership with Animoca Brands to expand Web3 infrastructure and blockchain gaming across Asia, with a focus on Japan. This collaboration aims to onboard major entertainment intellectual properties (IPs) to the blockchain, leveraging Sony’s Soneium (an Ethereum Layer-2) for scalability in gaming, entertainment, and finance. Animoca Brands’ strategic investment, though undisclosed in amount, will combine their Web3 resources with Astar’s local market strength to enhance consumer-facing applications and IP on-chain adoption. The partnership will also integrate Moca Network’s Anime ID for user identity, helping Web2 users transition to Web3. Current projects on Soneium, such as Astar’s ‘Yoki Legacy’ and Square Enix’s ‘Symbiogenesis’, show the entertainment sector’s blockchain potential. Despite these developments, ASTR’s price is around $0.03, down 10% over the past week, with technical signals currently bearish and support at $0.022. Traders should watch for future initiatives like a potential entertainment-focused fund, as the alliance could spark renewed interest and lift the price if momentum returns.
Bearish
Despite the strategic partnership and investment between Astar Network and Animoca Brands, ASTR price has experienced a notable decline (down 10% over the past week) and technical analysis indicates a bearish trend, with near-term resistance at $0.035 and downside risk to $0.022. While the collaboration holds long-term promise to boost IP adoption, Web3 integration, and market interest, there is no immediate positive price catalyst. Market sentiment remains cautious, and until concrete developments or renewed momentum materialize, the short-term price outlook for ASTR is bearish.