Animoca Brands has an early lead in blockchain gaming boom
Thursday, 21 February 2019 Animoca Brands Corporation Ltd (ASX:AB1) is undergoing continued growth in both existing and new business lines following a series of strategic investment partnerships in the area of blockchain gaming with prominent blockchain companies such as Decentraland and Mindfund, and major companies such as Atari and iClick. Q4 2018 update: A record year The company has multiple game-based business lines: development of original games, branded games, and games for third parties along with publishing and distribution services. 2018 was Animoca’s best year ever with about $14.9 million in revenue as the company made significant progress towards adoption of blockchain and artificial intelligence (AI) for gaming. Recent Highlights: Zeroth Acquisition Animoca Brands entered into an earn-in agreement to acquire a majority stake in Venture Classic Limited, the operational company of Zeroth SPC for a total consideration of $1.5 million. READ: Animoca Brands increases revenue amid key acquisitions It is worth noting that Zeroth is Asia’s first artificial intelligence accelerator. READ: Animoca Brands signs multiple deals to launch blockchain products for mass consumer markets Animoca has also cemented strategic partnership and co-investment deals with leading blockchain companies, including Dapper Labs (CryptoKitties), Mind Fund, Helix, Datum, LikeCoin, Musicoin and Simple Token. Animoca Brands development centres READ: Animoca Brands Corporation signs deal to expand trading of blockchain-based digital assets The company is partnering with Worldwide Asset eXchange, or WAX, a company overseeing the world’s largest purpose-built blockchain e-commerce platform designed for trading virtual items. Animoca will allow player-made non-fungible tokens (NFTs) generated in The Sandbox blockchain game creation platform to be bought, traded and sold on the WAX Marketplace, providing additional visibility and liquidity to their creators. Bringing the next billion to the blockchain through games Animoca co-founder and chairman Yat Siu said: “We believe gamers are the first and easiest frontier for blockchain adoption. “Animoca Brands is on a mission to use games to onboard the next billion people on to blockchain. “We believe that the true digital ownership conferred by NFTs has the potential to significantly boost conversion for our products.” Key value drivers for revenue and growth
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