LONDON--(BUSINESS WIRE)--Ayre Group founder and Antiguan/Canadian citizen Calvin Ayre has finalized agreements to take a controlling interest in nChain, the global leader in blockchain and Web3 technology, in a deal that will transform the trillion-dollar blockchain and Web3 sectors.
The internet is rapidly shifting from Web2 to the decentralized, blockchain-reliant Web3. This evolution will disrupt the established internet giants who lack the technological foundations to handle the ground shifting under their feet.
As Forbes recently observed, nChain’s patents “affect everything from the US$1 trillion cryptocurrency market to corporate implementations built by some of the largest companies in the world.”
The deal, believed to be the single largest enterprise blockchain IP investment to date, will see Ayre Group invest up to a total of CHF500 million (€516 million/£443 million). The sum consists of an equity acquisition of nChain by the Ayre Group, an IP licensing deal for Ayre Ventures portfolio companies, and a line of credit.
To date, nChain has been awarded nearly 800 technology patents with over 3,000 more presently awaiting approval, a wide-ranging intellectual property library representing the fundamental building blocks on which these next-generation internet products and services will be built. nChain’s IP is the DNA of the new internet, encompassing Web3 precursors, non-fungible tokens, smart contracts, and everything in between.
nChain has a heavyweight R&D team dedicated to turning its vast IP library into workable applications. nChain was included in the LexisNexis Innovation Momentum 2023: The Global Top 100 report of companies advancing innovative solutions to today’s challenges and laying the IP foundations for further breakthroughs.
Ayre Group Founder Calvin Ayre commented on the deal: “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.”
Ayre is a vocal supporter of the BSV Blockchain but says nChain’s patents are “blockchain-agnostic. 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.”
BSV’s combination of unbounded scaling capacity, ultra-low transaction fees and integration with IPv6 make it the only enterprise blockchain on which the internet of the future can be fully realized.
Stefan Matthews, nChain’s Co-Founder and Executive Chairman, added: “Calvin has been a strong advocate for nChain over the years. His decision to take a greater equity position in the nChain Group signifies his confidence in our business model and the value that we hold in our patent portfolio, software development and consulting services.”
Christen Ager-Hanssen, nChain´s Group CEO said: "nChain's bold mission is to catalyze an unprecedented transformation, propelling the world from Web2 to Web3 at an astounding pace. This groundbreaking shift will not only revolutionize 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.”
About Ayre Group
Ayre Group are a global investment group that fund ground-breaking businesses and technologies. They invest in building ventures in real estate, blockchain technology, media, publishing, health & wellness and travel & leisure.
Ayre Group build and support technology and businesses that break down barriers to entry, democratize opportunity, and positively enhance people’s lives.
About nChain
nChain is a leading global blockchain technology company, offering software solutions, consulting services and IP licensing for clients in various industries looking to benefit from the security, transparency and scalability of the blockchain. Founded in 2015, with offices in Lichtenstein, Switzerland, the UK and Slovenia, nChain employs more than 240 staff, holds nearly 800 patents and is the developer of the Bitcoin SV Node software, Teranode, LiteClient and more.
About Calvin Ayre
Calvin Ayre is a celebrated entrepreneur with an established track record of building successful internet-based businesses. In the mid-1990s, he was among the first to see online gambling’s breakout potential, leading to the launch of his market-leading Bodog brand and his appearance on the cover of the 2006 Forbes ‘Billionaires’ issue. Since leaving the gaming industry, he has focused on the Ayre Group, which invests in real estate, travel & leisure, blockchain/Web3 and media/publishing projects. Ayre Group also produces the London Blockchain Conference, the world’s largest annual Government and Enterprise Blockchain conference.