Animoca Brands Corporation (ASX:AB1) has signed a further six year licensing agreement with Paws, Inc for the popular brand and character Garfield.
Animoca publishes a broad portfolio of mobile games and e-books, including several games based on popular intellectual properties such as Thomas & Friends, Astro Boy, and Doraemon.
Garfield is one of the best performing brands in the company’s portfolio, having achieved a total of 65 million downloads across several mobile apps.
Since the beginning of the partnership in 2011, Animoca Brands and Paws have released a total of 60 apps based on the popular character.
Animoca recently launched Garfield Fit, which is the company’s first health app and marks its entry into the substantial digital health apps market, worth US$14 billion in 2016.
Garfield Fit turns real-world exercise into a game, increasing the user’s motivation and adherence to physical activity.
The app is a sophisticated pedometer with tailored fitness functions for children and adults, motivating them to adopt a healthier lifestyle.
Furthermore, virtual reality (VR) has been added to the scope of work under the renewed license with Paws, executing on Animoca’s strategy to diversify its product portfolio.
VR is experiencing rapid growth in all aspects, including in the gaming and learning sectors. By 2022 the market is estimated to be worth over US$33 billion.