Ayre Group has concluded agreements to acquire a majority in the Zug-based blockchain company nChain. According to a press release from the international investment company based in London, it will invest up to 500 million Swiss francs in the business, which is the “single largest enterprise blockchain IP investment to date.”
nChain has currently received almost 800 technology patents with applications registered for a further 3,000. According to the press release, nChain’s IP is the DNA of the new internet, encompassing Web3 precursors, non-fungible tokens, smart contracts, and everything in between. The extensive portfolio of intellectual property held by the company founded in 2015 is said to represent a “fundamental building block”.
Ayre Group Founder Calvin Ayre stated: “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.” He added: “There isn’t a single blockchain or Web3 project out there that isn’t standing on the shoulders of nChain’s patent library.”
Ayre’s aim is to promote its commercial use. nChain’s Group CEO Christen Ager-Hanssen, commented: “With Calvin’s unwavering dedication and visionary leadership, nChain is poised to spearhead the creation of a trillion-dollar ecosystem, leaving an indelible mark on the world, making it a better place for generations to come.” ce/mm