Animoca Brands Corporation Ltd’s (ASX:AB1) shares are trading circa 41% higher intra-day at $0.099 after raising circa $3.25 million via the placement of shares at $0.06 each to sophisticated investors.
The company is acquiring 60% of Fuel Powered, Inc. from Lion Games Limited for an upfront cash consideration of $752,263.
Fuel Powered is a U.S.-based developer of blockchain based gaming services and provider of a cloud based artificial intelligence and machine learning features-as-a-service platform for game publishers.
Clients of Fuel Powered include SEGA Publishing Europe Limited and Axiom Zen, the publisher of CryptoKitties.
Agreement with Axiom Zen to publish CryptoKitties in China
Animoca Brands has signed an exclusive licence and distribution agreement with Axiom Zen to publish CryptoKitties in China.
CryptoKitties is the first major video game based on blockchain, the underlying technology of cryptocurrencies like BitCoin and Ethereum.
CryptoKitties allow players to adopt, raise, and trade virtual cats, and it represents one of the earliest attempts to deploy blockchain technology for recreational purposes.
Based on the limited number of cats going into circulation, the main goal of the game is to collect and exchange cats.
The total value of transactions of CryptoKitties trade was about US$20 million in its first month.
Crazy Defense Heroes generates over $267,000 in second week
Animoca’s recently launched iOS mobile game Crazy Defense Heroes has generated a revenue of over $267,000 in its second week. The game was downloaded about 142,000 times in the same period.
In its first week, Crazy Defense Heroes generated over $202,000 in revenue and was downloaded about 260,000 times.
Animoca plans to launch Crazy Defense Heroes in the rest of the world later in the year.
Based on the game’s early success on iPhone and iPad, Animoca Brands has begun development of a version for Android devices.