{"id":87482,"date":"2023-12-27T00:00:00","date_gmt":"2023-12-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/crypto-conglomerate-phoenix-group-to-acquire-25-stake-in-monetization-platform-lyvely\/"},"modified":"2023-12-27T00:00:00","modified_gmt":"2023-12-27T00:00:00","slug":"crypto-conglomerate-phoenix-group-to-acquire-25-stake-in-monetization-platform-lyvely","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/27\/crypto-conglomerate-phoenix-group-to-acquire-25-stake-in-monetization-platform-lyvely\/","title":{"rendered":"Crypto conglomerate Phoenix Group to acquire 25% stake in monetization platform Lyvely"},"content":{"rendered":"

Newly listed crypto conglomerate Phoenix Group will acquire a 25% stake in <\/strong>UAE-based <\/strong>content monetization platform<\/strong>Lyvely<\/a><\/strong> for an undisclosed sum, according to an ADX<\/a>disclosure (pdf)<\/a>. Phoenix is currently running through the regulatory requirements to finalize the agreement. Phoenix announced its plan to invest in Lyvely in a press release<\/a> on Saturday. <\/p>\n

What they said: <\/strong>\u201cWe are proud to invest in Lyvely, a UAE homegrown platform, which represents a revolutionary fusion of Web 2 and Web 3 capabilities, poised to redefine how creators and consumers interact in the digital space,\u201d said Phoenix Co-founder Bijan Alizadehfard.<\/p>\n

About Lyvely: <\/strong>Founded this year by Farah Zafar (LinkedIn<\/a>) and Dave Catudal (LinkedIn<\/a>),Lyvely<\/a><\/strong> provides content creators with a blockchain-based integrated payment solution, with plans to develop a credit card and digital currency in 1Q 2024. The company raised<\/a> an undisclosed seed round from early stage venture capital firm Cypher Capital in September.<\/p>\n

REMEMBER- <\/strong>Investors welcomed Phoenix<\/a> \u2019s ADX debut at the start of the month, with shares soaring 35%<\/a> on the first day of trading. The company owns 23 businesses and nine mining facilities in the US, Canada, CIS, and the UAE, with a USD 2 bn crypto mining farm in the UAE, one of the largest<\/a> in the Middle East.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lyvely launched in August 2023, and raised an undisclosed amount in a seed round in September<\/p>\n","protected":false},"author":1,"featured_media":87483,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[74,128,127,7,60,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-adx","tag-blockchain","tag-cryptocurrency","tag-enterpriseam-uae","tag-ma-watch","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"8b459a04-d274-4c85-a9d9-a9e180774c2e","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1740.jpeg","photo_position":"below","homepage_title":"","full_issue_title":"Phoenix Group to acquire 25% of new monetization platform Lyvely","related_issue":[87478],"teaser":"Lyvely launched in August 2023, and raised an undisclosed amount in a seed round in September","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.e07926e9-ce9a-411f-b471-e0c66183d9cb.mp3"},"yoast_head":"\nCrypto conglomerate Phoenix Group to acquire 25% stake in monetization platform Lyvely - 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