AB1 – Animoca Brands Corporation

Breakout for AB1 in early April as it pushed through 11c with confidence after announcing the signing of an agreement with Lucid Sight, Inc. to promote, market, and distribute Lucid Sight’s portfolio of games in Asia, as well as to implement assets from the games into the AB1’s blockchain titles as non-fungible tokens (NFTs).

The company also stated that it had participated in Lucid Sight’s latest fundraising round, although it referred to the amount invested as “not material”.

The following day (4 April) AB1 announced that it has entered into a binding term sheet to acquire 100% of Stryking Entertainment for an upfront consideration of €1m (~A$1.58m) payable in shares. Stryking is a leading Germany-based company and the operator of the popular fantasy sports game Football-Stars and holds an official license from the Bundesliga, the top-tier German football league, for the right to use all club logos and player pictures. Stryking also has a license from renowned German football club Bayern Munich, one of the most followed football teams globally with more than 60 million social media followers.

The number of Animoca Brands shares to be issued to Stryking will be determined at a price per share of A$0.10 and will be escrowed for 12 months after issue.

The company also announced that it has completed a strategic capital raise of A$4.6 million to international blockchain investors, high-quality Australian institutional investors, and existing shareholders in order to take advantage of multiple business opportunities and to fast track development and promotion of upcoming games and NFT launches.

On 12 April AB1 announced that it is to acquire a 75% stake in Hong Kong-based mobile games developer Skytree for an upfront consideration of A$850,000 in shares and cash. Skytree is a multiple award-winning game development studio with a portfolio of successful titles including Hachi Hachi and Trillionia, which have more than 5 million downloads.

Today AB1 announced that it will partner with global venture accelerator Brinc on the establishment of an esports and gaming accelerator. The company stated that it will lead a pre-seed investment round into Brinc’s subsidiary Brinc AOA with an investment of US$750,000 (~A$1.06m).

It’s been a busy month for Animoca Brands but it looks like it’s moving forward in leaps and bounds.