SINGAPORE - Shares of digital content producer Vividthree Holdings rose sharply on Wednesday (Oct 27) after the company said it is exploring opportunities in the fast-growing gaming sector to increase future revenue streams.

The Catalist-listed stock closed up 2.4 cents, or 53.3 per cent, at 6.9 cents, after hitting a session high of 7.8 cents. It was the most heavily traded counter by volume with 54 million shares changing hands.

Vividthree said it has begun preliminary discussions with several parties, including GammaR, to capitalise on popular trends in the gaming sector such as blockchain and non-fungible tokens (NFTs).

"The group is currently in discussions with GammaR on various possible collaboration structures to venture into this space," said Vividthree, adding that it will make further announcements if and when there are material developments.

GammaR is a platform that helps NFT game developers bring their innovations to market by providing them with the resources to develop and monetise their ideas. Its in-house game development team has more than 10 years of experience, with an established track record in marketing popular mobile games, said Vividthree.

Set up in 2006, Vividthree specialises in visual effects, animation and virtual reality for content creation and services in digital entertainment as well as Mice (meetings, incentives, conferences, exhibitions) projects.

Earlier in October, Singapore-listed Malaysian property developer Hatten Land announced a plan to create a digital twin city for Malacca as part of a strategic shift towards digital assets like NFTs.

This followed deals in September to install and operate cup ryptocurrency mining rigs at its properties in Malacca.

The announcements saw Hatten Land shares bounce though they have since pared some of the gains.