Ayre Group has taken a controlling interest in blockchain and web3 IP library nChain in a $570 million deal. Details of the deal involve an equity acquisition of nChain by the Ayre Group, an IP licensing deal for Ayre Ventures portfolio companies, and a line of credit.
“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. My goal is to accelerate the pace of nChain’s development and increase the commercial adoption of its extensive IP library,” says Ayre Group founder Calvin Ayre. “There isn’t a single blockchain or Web3 project out there that isn’t standing on the shoulders of nChain’s patent library—the earliest, largest, and highest quality collection in this space.”
To date, nChain claims it has been awarded nearly 800 technology patents with over 3,000 more awaiting approval. It says its 'IP is the DNA of the new internet, encompassing Web3 precursors, non-fungible tokens, smart contracts, and everything in between'.
"nChain's bold mission is to catalyse an unprecedented transformation, propelling the world from Web2 to Web3 at an astounding pace. This ground-breaking shift will not only revolutionise our lives but also shake the very foundations of industries far and wide. 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,” says Christen Ager-Hanssen, nChain´s Group CEO.