Animoca Brands Corporation Ltd’s (ASX:AB1) receipts from customers grew 117% quarter on quarter from $4.2 million to a record $9.1 million for the quarter ended June 30, 2019.
The company ended the quarter with $10.2 million in cash and $3.2 million in digital assets, which represents a net increase of 93% and 206% on the cash and digital assets, respectively, from the end of Q1 2019.
Record quarterly revenues
Animoca Brands received record unaudited revenues of about $8.7 million in the quarter, the highest such quarterly result in the company’s history.
The company estimates that its unaudited revenue for the first half of 2019 totalled $13 million, the strongest in Animoca’s history.
Milestones during the quarter
During the quarter, Animoca revealed a partnership and investment into Lucid Sight, the Los Angeles-based developer with a games portfolio that includes the blockchain game MLB Champions™, an officially licensed product of Major League Baseball and the Major League Baseball Players Association.
Animoca also became Lucid Sight’s partner to promote, market, and distribute Lucid Sight games in Asia.
READ: Animoca Brands teams with MLB Champions game developer Lucid Sight
The company also revealed the acquisition of Stryking Entertainment, a leading German-based company and the operator of the popular fantasy sports game Football-Stars.
Stryking holds an official licence from the Bundesliga, the top-tier German football league, for the right to use all club logos and player pictures.
READ: Animoca Brands shares surge following Football-Stars acquisition and capital raising
Stryking also has a licence from renowned German football club Bayern Munich, one of the most followed football teams globally with more than 60 million social media followers.
Football-Stars will add blockchain gaming elements, starting with the integration of a collectible game using non-fungible tokens (NFTs) centred around real football players and clubs.
Animoca completed a heavily oversubscribed strategic capital raise of $4.6 million at a 4.2% premium to the 30-day VWAP from international blockchain investors, Australian institutional investors, and existing shareholders.
READ: Animoca Brands to acquire Football-Stars creator, bags $4.6 million at a premium
The company received considerable support from top tier fund managers and institutions including Perennial Value Management, SG Hiscock, and existing shareholders Sun Hung Kai, Katherine Yip -Ribeiro (founder of Pacific Alliance Group and co-founder and partner of Vina Capital), and Moses Tsang (founder of Goldman Sachs Asia Pacific).
Animoca Brands revealed that it acquired a 75% stake in Hong Kong-based mobile games developer Skytree Digital Limited, whose management team includes accomplished entrepreneurs and executives, as well as one of the world’s top eSports players of Hearthstone® (the most popular digital trading card game with over 100 million players).
Skytree is a multiple award-winning game development studio with a portfolio of successful titles including Hachi Hachi and Trillionia, which have 5 million downloads.
READ: Animoca Brands acquires award-winning game studio Skytree
The acquisition will significantly and cost-effectively increase the company’s development capabilities relevant to its recent licencing arrangements for major international sports brands (F1®, Major League Baseball, Bundesliga, Bayern Munich).