Blockchain-based payment platform Metal has acquired the multifunctional EOSIO platform, Bloks.io.
The binding letter for the acquisition was signed earlier this week, Metal representatives told Cointelegraph on Aug. 21. The final amount of the deal was not disclosed.
Originally launched as a simple block explorer for EOS (EOS), Bloks.io has expanded into a multi-purpose EOSIO platform supporting various networks like WAX, Telos, Proton and others. According to Metal, Bloks.io had more than 10,000 daily active users at the time of the acquisition.
A spokesperson for Metal told Cointelegraph that Bloks.io is the first and only block explorer acquired by the company. With the deal, Metal expects to benefit from a large number of real token holders on Bloks.io.
The firm is also looking to collaborate with Bloks.io developers led by former Ethereum dev Syed Jafri. A founder of major block producer EOS Cafe Block, Jafri won a $200,000 EOSIO smart contract challenge from EOSIO creator Block.one in May 2020.
Metal aims to further expand the capabilities of its proprietary blockchain and cryptocurrency known as Proton (XPR). Launched by Metal in April 2020, Proton is a public blockchain and smart contract platform designed for consumer apps and peer-peer payments.
With the new acquisition, Metal plans to integrate Proton into the Collectables.io platform as a chain and wallet option. Also founded by Jafri, Collectables.io is a non-fungible token marketplace running on the WAX blockchain.
The Bloks.io deal marks Metal's second acquisition this year. In May, the firm purchased blockchain and cryptocurrency project Lynx (LYNX).
Alongside Bloks.io, there are a number of EOS block explorers like Eosx.io, Eospark.com, Eosflare.io, and others. The platforms are designed to track blocks and transactions on the EOSIO blockchain, a decentralized system powered by its native cryptocurrency, EOS. Launched in 2018, EOS is one of the world's largest cryptocurrencies by market cap. As of press time, EOS is ranked the 11th top digital asset, with a market cap of $3.4 billion.