A New York-based gaming and entertainment company is announcing its investment in a Bitcoin (BTC) and Ethereum (ETH) treasury strategy.

According to a new press release, Allied Gaming & Entertainment (AGAE) is only beginning its broader Real-World Asset (RWA) tokenization and blockchain plan.

Says AGAE CEO Mr. Yangyang Li,

“We see cryptocurrency not only as a store of value, but also as a strategic building block for the future of our business.

Integrating blockchain and digital assets into our ecosystem is a natural progression of our vision to connect people through gaming, entertainment, and innovative financial technologies.”

As part of the firm’s “forward-looking presence,” the press release also announces AGAE’s future plans for Web3 and entertainment.

“Expanding blockchain-based payment options across AGAE’s global IP portfolio, including esports events, gaming platforms, and experiential entertainment venues.

Developing proprietary tokenization models for RWAs, such as live entertainment rights, property management revenue streams, and film/animation IP monetization.

Laying groundwork for stablecoin and utility token integration within the company’s digital ecosystem to enhance user engagement, cross-border transactions, and ecosystem liquidity.”

AGAE is just the latest in a slew of firms diversifying their treasuries with investment strategies involving crypto.

Earlier this week, the global head of research at NYDIG warned that many crypto treasury companies may “deteriorate before they improve” due to share unlocks and narrowing premiums between share prices and the underlying net asset values.