Animoca Brands acquires Pixowl, developer of The Sandbox game...

Animoca Brands acquires Pixowl, developer of The Sandbox game for mobile and blockchain

Highlights:
● Animoca Brands to acquire 100% of independent mobile game company Pixowl, Inc., for an upfront consideration of US$4.875 million (A$6.65 million), of which US$519,512 (about A$709,133, or 10.7%) is cash and the rest is in shares, with a lock-up period of up to 24 months

● Pixowl is an independent mobile game company focused on world builder games, with a portfolio that includes The Sandbox, Peanuts: Snoopy’s Town Tale, Garfield: Survival of the Fattest, and Goosebumps HorrorTown

● Pixowl generated US$1.8 million (A$2.46 million) revenue in the first half of 2018

● The Sandbox is among the world’s largest independent user-generated content platforms and gaming ecosystems, with 40 million downloads and over one million monthly active users

● Pixowl is developing a blockchain version of The Sandbox, considered one of the most anticipated blockchain games globally, and will leverage the capabilities of Animoca Brands and partners like HTC and Dapper Labs (CryptoKitties)

● Pixowl will launch of the world’s first marketplace for user-generated non-fungible tokens (NFTs), where players will trade game assets

● Pixowl’s games portfolio includes major brands: Snoopy, Goosebumps, The Loud House, WonderPark, and Garfield.

● Ed Fries, the creator of Microsoft Game Studios and co-founder of the Xbox project, is a special advisor to Pixowl and The Sandbox, and will continue his advisory role after the Acquisition

● The Acquisition provides significant synergy and strategic value for gaming and blockchain development

● Pixowl’s highly experienced team will enhance Animoca Brands’ operational base and mobile/blockchain development capability