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Animoca Brands Corporation Ltd

Animoca Brands signs multiple deals to launch blockchain products for mass consumer markets

The company is pursuing a strategy to cement leadership in the blockchain space by building its network of technology and brand partners.

blockchain
Progressing towards the future of blockchain gaming: mass consumer markets.

Animoca Brands Corporation Ltd (ASX:AB1) has entered into a series of mutual investment agreements with blockchain companies to advance the introduction of blockchain products to mass consumer markets.

The company is partnering with six leading developer in the blockchain and digital token space - Datum, LikeCoin, Musicoin, OST, Harmony, and I-House.

Animoca is entering into a US$1 million mutual investment agreement with each of the six partners, whereby the company will invest its shares in exchange for the equivalent value in the form of each partner’s tokens.

Strategic rationale

Animoca’s blockchain projects will be accelerated by the access to the technologies, products, expertise, and networks gained by partnering with the parties.

The company is pursuing a strategy to cement leadership in the blockchain space by building its network of technology and brand partners, driving blockchain adoption and development, enhancing the value and utility of existing digital tokens, and accelerating the progress toward the future of blockchain gaming: mass consumer markets.

READ: Animoca Brands partners with tech developer to produce blockchain-powered games

Animoca expects that the strategic partnerships announced today, combined with its expertise in gaming, artificial intelligence, blockchain, software development, publishing, and branded IP collaboration, will increase the value of the parties’ tokens and thereby ultimately increase Animoca’s shareholder value.

Agreements with Mind Fund and Helix

Animoca has also entered into a memorandum of understanding (MOU) with Mind Fund Group Ltd, a Hong Kong-based leading venture capital company and Helix, an accelerator launched by Mind Fund and Hedera Hashgraph.

Hedera Hashgraph recently raised US$120 million and provides distributed ledger technology that offers high transactions per second needed to scale blockchain networks and applications.

Under the MOU, Mind Fund has agreed to subscribe (directly or via an affiliate) for US$1 million worth of Animoca shares, priced at 10 cents each.

Furthermore, Helix has agreed to invest a minimum of US$100,000 in the upcoming token sale for the blockchain version of The Sandbox, on the condition that the game offers compatibility with Hedera Hashgraph.

READ: Animoca Brands acquires Sandbox game developer Pixowl to drive blockchain technology

The Sandbox is developed by Pixowl, a company recently acquired by Animoca Brands.

Animoca co-founder and chairman Yat Siu said: “One of the biggest challenges facing blockchain networks is the current limit in transaction volume and latency.

“Hedera Hashgraph's performance tests show throughput of 50,000 transactions per second, and up to ten times that number under certain conditions.

“Partnering with Helix and Mind Fund will significantly help Animoca Brands to scale our blockchain products, allowing us to create a new generation of distributed games and applications that will have powerful consumer appeal.”

Quick facts: Animoca Brands Corporation Ltd

Price: $0.18

Market: ASX
Market Cap: $143.68 m
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Animoca Brands closes $3.6-million capital raising to fund tokenised...

Animoca Brands Corporation Ltd (ASX:AB1) co-founder and chairman Yat Siu updates Proactive Investors on the mobile gaming and tech company’s $3.6-million capital raising to develop a blockchain version of its mobile game franchise The Sandbox. The blockchain version of the gaming platform...

on 17/6/19

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