• Linius Technologies (LNU) signs an agreement with Blockchain Australia (BA) to develop and launch Web3 products for its subsidiary, Linius Blockchain Solutions (LBS)
• Under the terms of the agreement, BA will provide consulting, design and development services and a range of software tools and licences.
• In exchange, BA will receive a nine per cent stake in LBS at the
• Linius says that the association will accelerate its strategy to use LBS to enter the Web3 market, valued at US$1.3 billion (A$1.94 billion).
• Linius shares are up 12.5% ​​at 0.45 pence at 11:37 a.m. AEDT

Linius Technologies (LNU) has signed an agreement with Blockchain Australia (BA) to develop and launch Web3 products for its subsidiary, Linius Blockchain Solutions (LBS).

Under the terms of the agreement, BA will provide consulting, design and development services and a variety of software tools and licenses to LBS.

In exchange, BA will receive a nine per cent equity stake in LBS upon completion of the work.

The partnership will expand the range of products and partners that use the Linius Video Services (LVS) platform.

In addition, it will accelerate Linius’ existing strategy to use LBS to enter the Web3 market, which the company said was valued at US$1.3 billion (A$1.94 billion) and would grow at a CAGR of 44.9 percent through 2030.

Through LBS, Linius will be able to forge partnerships with leading specialists in the Web3 market.

“Linius has long had a vision for the application of blockchain technology in video, including a patent granted for attaching virtual video directly to a blockchain,” Linius CEO James Brennan said.

“Our customers and prospects, particularly in the sports market, are rapidly implementing and evaluating Web3 solutions to help them engage fans, monetize content, increase security and improve operational efficiency.

“We are excited to be actively developing our first products for this large, high-growth market. I am confident our products will add unique value to customers and new revenue streams for Linius.”

The first products from this partnership are expected to be completed in the first half of 2023.

Linius shares were up 12.5 percent at 0.45 pence at 11:37 a.m. AEDT.