Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) said it has reached a settlement with Knighted Pastures LLC, bringing all related legal matters to a close, according to a company statement.
Following the resolution, the company is turning its attention to new strategic initiatives, including plans to launch its cryptocurrency, Allied Coin, in 2026, subject to regulatory approvals and operational readiness. Allied currently serves a user base of more than 20 million across the Asia-Pacific region and has a market capitalization of around $12.4 million, with shares down significantly over the past year.
The company outlined two main areas of focus going forward. The first centers on building a digital infrastructure platform, including optical communication networks, computing resources and fiber systems. Allied said it is also exploring tokenization models tied to infrastructure-backed assets such as bandwidth and computing capacity.
The second strategic pillar involves expanding into AI-driven consumer offerings. These include plans for AI-based gaming and entertainment platforms, educational tools and smart devices, which the company intends to develop through a mix of internal projects, acquisitions and partnerships.
“We are actively advancing a range of M&A and strategic partnership opportunities and accelerating the development of our AI and tokenized digital asset initiatives,” said Chairman and CEO James Li.
Allied said it is currently reviewing multiple merger, acquisition and partnership opportunities across AI infrastructure, cryptocurrency and digital ecosystem applications, and expects to provide further updates in the near future.
The company describes itself as a global experiential entertainment business undergoing a transition into a broader digital ecosystem platform.
Separately, Allied recently confirmed the resolution of its legal dispute with Knighted Pastures, including matters related to a Delaware court ruling on attorneys’ fees. It also announced changes to its board, following the resignations of Yushi Guo and Jerry Qin, which led to a restructuring of key committees.
The Audit Committee now includes Mao Sun, Jingsheng Lu and Yuanfei Qu. The Compensation Committee is composed of Yuanfei Qu, Chi Zhao and Mao Sun, while the Nominating and Corporate Governance Committee includes Chi Zhao, Jingsheng Lu and Mao Sun. These changes reflect a broader organizational realignment as the company advances its strategic transformation.