viewAnimoca Brands Corporation Ltd

Animoca Brands to acquire leading digital collectibles marketplace Quidd; secures $8 million

Quidd currently has the world’s largest assortment of digital collectables licences and partnerships.

Animoca Brands Corporation Ltd - Animoca Brands to acquire leading digital collectibles marketplace Quidd; secures $8 million
Quidd’s partners include Disney, Marvel and HBO

Animoca Brands Corporation Ltd (ASX:AB1) has entered into an agreement to acquire Quidd, Inc, a digital goods company that owns and operates a leading global marketplace for buying and selling digital collectibles.

Concurrently, Animoca has completed a strategic capital raise of $8 million in order to fund the advancement of various business opportunities, including the expansion of Quidd.

Notably, the $8 million was raised through the placement of shares at 20 cents, representing a 16% premium to the 30-day VWAP.

Quidd currently has the world’s largest assortment of digital collectibles licences and partnerships (over 325 individual brands), featuring top content owners across multiple verticals; partners include Disney, Marvel, HBO (Game of Thrones), CBS (Star Trek) and NBA, among others.



Quidd had an average of 208,000 monthly active users for the first half of 2019, with the majority of those users being in the US.

It has issued and sold over 2.1 billion individually-serialised digital collectables.

Strategic rationale

The acquisition of Quidd confers a powerful set of intellectual property (IP) and media relationships to Animoca and provides opportunities for expansion of the company’s virtual goods and digital collectibles strategy, adding over 325 of the best known IP in the world today including properties from Disney, Marvel, HBO, Cartoon Network, CBS, the NBA, and hundreds of others.

Acquiring Quidd will therefore significantly increase Animoca’s economic potential in the digital collectables sector via relationships with many of the world’s top content owners.

READ: Animoca Brands achieves positive operating cash flow with record receipts in June quarter

Quidd is currently available in English and not yet localised for other major markets.

Anicmoca will leverage its considerable global publishing expertise to localise Quidd for Asian markets followed by the rest of the world, significantly enlarging the potential audience reach.

The current management will continue to operate Quidd after the acquisition, working with Animoca to expand the Quidd business into international markets, leverage synergies and develop new business opportunities.

Acquisition terms

Animoca, via its wholly-owned subsidiary Animoca Brands Limited, will acquire from Michael Bramlage, co-founder of Quidd, and various non-founder shareholders 100% of the issued capital in Quidd, Inc., for an upfront consideration of US$5 million (about $7.2 million), payable in fully paid Animoca shares.

Additionally, Animoca will pay in shares to the seller's earn-out payments of up to US$3 million (about $4.3 million) on the basis of Quidd meeting net profit milestones over a three-year period.

Quick facts: Animoca Brands Corporation Ltd

Price: - -

Market: ASX
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Animoca Brands Corporation Ltd named herein, including the promotion by the Company of Animoca Brands Corporation Ltd in any Content on the...



Animoca Brands inks deal with Atari for its The Sandbox gaming platform

Animoca Brands Corporation Ltd's (ASX:AB1) co-founder and chairman Yat Siu speaks to Proactive's Andrew Scott after announcing its blockchain gaming platform The Sandbox is partnering with Atari - one of the world’s most iconic gaming brands. He says the idea's to create 3D voxel versions of...

1 week, 1 day ago

3 min read