Blockchain game company Animoca Brands has acquired Australian indie developer Blowfish Studios.
As part of the deal, Animoca has paid $6.6 million upfront, with roughly $2.9 million paid in cash and $3.7 million in shares. Animoca will distribute conditional payments of up to $19.2 million with regard to employment and performance targets.
Sydney-based Blowfish Studios boasts a portfolio of 33 games, including cross-platform titles Yestermorrow, Morphism, the Siegecraft series and the upcoming Winter Ember.
Many of the studio’s titles have been featured on iOS and Android devices, such as Storm Boy, Projection: First Light, Qbism and Siegecraft VR. Projection: First Light was included as one of the launch titles for Apple Arcade.
The current management behind Blowfish will continue to operate the company following the acquisition, working closely with Animoca to integrate blockchain and NFTs into their games.
Blockchain brains
"Animoca Brands is incredibly thrilled to welcome Blowfish, a team that significantly expands our capacity in the cross-platform games space and that has a strong interest in and understanding of blockchain," said Animoca Brands co-founder and chairman Yat Siu.
"The combination of unique capabilities in triple-A gaming and blockchain is a rare and valuable blend and we are already hard at work on a number of very exciting projects to be announced soon."
Blowfish Studios co-founder and managing director Benjamin Lee added: "Joining the Animoca Brands family was a unique opportunity to grow the game development and publishing businesses of Blowfish, and to leapfrog to the forefront of blockchain gaming.
"We are incredibly excited about our major upcoming releases developed with Animoca Brands, which will change the perception of blockchain gaming for midcore and hardcore gamers everywhere."
Earlier this year, Animoca Brands raised $88,888,888 to expand blockchain gaming growth followed by a more recently raised $50 million from investors, such as Scopely and Samsung.
Animoca Brands also partnered with tech accelerator firm Brinc to create a new blockchain and NFT-focused startup called Launchpad Luna.
