Proactive Investors - Run By Investors For Investors

Animoca Brands invests in blockchain games developer Experimental

The company will also act as an advisor to Experimental for Asian markets and gaming.
CryptoWars image
CryptoWars is a popular blockchain-based strategy game and the first of its kind to run on smart contracts

Animoca Brands Corporation Ltd (ASX:AB1) has entered into a simple agreement for future equity (SAFE) with blockchain gaming studio Experimental Group Ltd to participate in Experimental’s seed round of funding.

Experimental has completed its seed round of funding by raising more than US$500,000 from serial entrepreneur and investor Sumit Gupta, who sold his gaming company for US$170 million, invested in Discord and founded Boom TV.

Other participants include Pato Jutard, who sold his gaming company to Disney, Julien Turri, who sold two companies and is the owner of one of the major performance marketing agencies in Brazil, and Argentina's government-backed venture capital firm YAVU.

CryptoWars is main product

CryptoWars, Experimentals’ main product, is a strategy simulation game built on the Ethereum blockchain, which launched in January 2019 and quickly became highly popular among thousands of blockchain gamers processing 450,000 transactions in a single week.

READ: Animoca Brands plans to consolidate and manage growth in 2019

Animoca Brands co-founder and chairman Yat Siu said: “We are thrilled with our third investment in an Argentinian company – Experimental is a true pioneer in blockchain gaming with the first decentralised strategy game to run entirely on smart contracts.

“We believe in the capabilities of its highly competent management team and look forward to working together on many exciting projects.”

Players in CryptoWars create and customise a settlement, form alliances, build armies and wage war over the control of nearby realms and is the final strategy game to run entirely on smart contracts – meaning that all in-game items obtained by players verifiably belong to them in the form of fungible tokens and non-fungible tokens (NFT’s).

READ: Animoca Brands outlines growth opportunities in strategy update

In addition to the investment, Animoca Brands and Experimental have agreed to market and promote each other to their respective platforms and networks, collaborate on the launch of CryptoWars in Asia and discuss opportunities for collaboration including distribution of Experimental’s products.

Experimental chief executive officer Matias Nisenson said: “We’re excited to join forces with Animoca Brands and other amazing investors to bring blockchain gaming into the mainstream.”

View full AB1 profile View Profile

Animoca Brands Corporation Ltd Timeline

Related Articles

immotion vr racing game
February 06 2019
The out-of-home VR hardware and content maker turned over more than £1mln in the second half of 2018 with ‘only’ 150 or so headsets in operation, but it wants that figure to climb to over 1,000 by the end of this year
Bitcoin coins in a wallet
December 22 2018
The payment processing company’s platform has continued to sign up merchants, unbothered by the notorious market volatility
Mergers and acquisitions graphic
January 17 2019
Swift’s investors will vote on its planned acquisition of ad specialist Medical Media.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use