Proactive Investors - Run By Investors For Investors

Animoca Brands acquires award-winning game studio Skytree

AB1 will utilise its capabilities in publishing and distribution to maximise Skytree’s revenue.
Trillonia game cover
Skytree’s flagship game Trillionia is a real-time strategy card mobile game

Animoca Brands Corporation Ltd (ASX:AB1) has initiated the acquisition of a 75% stake in Hong Kong-based mobile game developer Skytree Digital Limited.

Notably, Skytree generated ~A$681,000 in revenue in 2018 and its revenue for the March quarter of 2019 increased by 27.5% on an annualised basis.

Consideration for the 75% stake will be A$850,000 in shares and cash subject to final due diligence, closing conditions, and shareholder approval.

READ: Animoca Brands shares continue to rise on positive news flow

Animoca’s chairman and co-founder Yat Siu said: “Skytree is a company with a history of delivering high-quality products and who shares our vision on the future of nonfungible tokens (NFTs), so it’s a great fit with Animoca Brands.

“We’re extremely excited about the opportunity to bring Trillionia to blockchain - not just because it’s a polished game that recently won the top digital entertainment award in Hong Kong, but also because its board game and collectible trading card game elements make it an ideal candidate for blockchain and NFTs."

Skytree’s flagship game won an award last week

Skytree has expertise in trading card games (TCG), also known as collectible card games (CCG).

It is a multiple award-winning game development studio with a portfolio of successful titles including Hachi Hachi and Trillionia, which have 5 million downloads.

Trillionia is a real-time strategy card mobile game inspired by traditional board games such as Monopoly and just last week received a technology award in Hong Kong.

Skytree’s management team includes accomplished entrepreneurs and executives, as well as one of the world’s top eSports players of the game Hearthstone®.

View full AB1 profile View Profile

Animoca Brands Corporation Ltd Timeline

Related Articles

abstract technology
February 25 2019
The global provider of technology solutions to the cannabis sector has a footprint in California, but has global intentions
May 29 2019
"We aim to continue to improve the group's profitability and manage a regular and growing dividend stream for the benefit of our shareholders," said CEO Brian Raven
Bitcoin coins in a wallet
December 21 2018
The payment processing company’s platform has continued to sign up merchants, unbothered by the notorious market volatility

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

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