The agreement will see the two parties transfer fully paid ordinary shares to the value of US$500,000 to each other.
Canadian advertising company Versus is focused on developing in-game prizing and promotion tools, including the Winfinite platform, a set of products allowing publishers to offer in-game prizing across mobile, console, PC games and streamed media.
Through Winfinite, advertisers can offer product and digital goods as prizes that players can earn through in-game achievements.
The platform provides players and viewers with the opportunity to play for things they love while providing businesses and brands with a powerful way to reach their potential audience.
More than half a million in-game challenges have been completed to date.
“Multiple partnerships for advertising benefit”
Animoca co-founder and chairman Yat Siu said: “Versus Systems has the ability to provide Animoca Brands with technology which will be beneficial to the company on a number of levels.
“Animoca Brands will explore the possibility of leveraging any of its multiple partnerships for advertising benefit and explore ways to utilise Winfinite in its existing games portfolio.”
Following the share exchange, Animoca Brands and Versus will progress the framework for a strategic cooperative agreement.
This would see Animoca Brands potentially utilise the Winfinite platform for advertising via the company’s established partnerships with iClick, Talenthouse and Gamma Innovations.
Animoca Brands and Versus will transfer each other fully paid ordinary shares of their companies equal in value to US$500,000 million with pricing of the Versus shares issued to Animoca Brands based on the high of C$0.23 or the 21-day volume-weighted average price.
Pricing of the Animoca Brands shares issued to Versus will be based on the higher of A$0.18 or the 21-day volume-weighted average price on the date the transaction is approved by the company’s shareholders.
Versus Systems founder and CEO Matthew Pierce said: “The combination of Animoca Brands’ content, gaming and blockchain-enabled platforms with Versus Systems’ proprietary rewards and engagement engine will generate new opportunities to enhance the audience and gaming experience.”