Hong Kong-floated publisher Animoca Brands has acquired a 75 per cent stake in local collectible card games developer Skytree for $605,700 in cash and shares.
The studio has developed games such as Trillionia and Hachi Hachi (pictured, main), which together have generated five million downloads.
Expanding development capabilities
Animoca Brands said the deal would support its recent licensing arrangements that include major IP such as F1, Major League Baseball, Bundesliga and the Bayern Munich football team.
The publisher also hopes to support the developer in getting more out of its existing portfolio, while seeing the potential for blockchain integration - an area the company has invested in significantly.
Skytree made $487,470 in revenue in 2018. In the first quarter of 2019 sales increased by 27.5 per cent on an annualised basis to $155,200.
“Skytree is a company with a history of delivering high-quality products and who shares our vision on the future of non-fungible tokens (NFTs), so it’s a great fit with Animoca Brands,” said Animoca Brands chairman Yat Siu.
“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.”
Animoca Brands will be present at Pocket Gamer Connects Hong Kong on July 17th to 18th.