Animoca Brands' launch of new RPG tower defence game Crazy Defence Heroes helped boost revenues by 54.5 per cent year-on-year to A$3.4 million in Q1 2018.

Profits came in at A$0.5 million which gave the company its first positive quarterly operating cash flow result since it was listed on the ASX in 2015.

The mobile games publisher cited the success of Crazy Defence heroes as a large contributor to its rise in revenue. The title brought in revenues of A$2.6 million for the period and has made A$2.8 million in its first three months of operation.

Off the blockchain

Animoca Brands has been busy expanding over the last year, furthering its interest in the blockchain and AI with the acquisition of a 60 per cent stake in Blockchain games service developer Fuel Powered for $752,263. It also launched a beta for blockchain-based game Crytokitties in China.

It also announced the purchase of Finnish developer Tribeflame earlier this year in a deal worth up to $433,000.

The company expects to formally close the sale of its casual mobile games portfolio to iCandy 30 days after its annual general meeting, which will be held on the May 22nd 2018. The publisher will receive a $0.75 million payment along with 25 million shares in iCandy.

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