Blockchain gaming company Animoca Brands is set to acquire digital collectibles firm Quidd, giving it access to a wide array of intellectual properties including Disney, Marvel, Game of Thrones, Star Trek, and the NBA.
Quidd is a New York-based company which operates one of the world’s leading digital marketplaces, having scored partnerships with various global and hugely popular brands.
According to a press release shared with Coin Rivet, Animoca Brands has entered into a term sheet to acquire 100% of the issued capital in Quidd, subject to shareholder approval and due diligence.
Quidd has sold more than 2.1 billion individually-serialised digital collectibles and has cultivated a community of 6.8 million unique users since its inception in 2016.
In the first half of 2019, Quidd recorded 208,000 monthly active users, with the majority of them being based in the United States.
The acquisition will confer to Animoca Brands a powerful set of intellectual property (IP) and media opportunities to help expand the company’s offering of virtual goods and digital collectibles – adding more than 325 of the “best known” IPs in the world.
After the acquisition, transactions on Quidd will be recognised as revenue by Animoca Brands, which the company claims should help “significantly increase” its economic potential in the digital collectibles space.
Quidd is currently only available in English and has not yet been localised for other major markets. As such, Animoca Brands will be leveraging its global publishing prowess to localise Quidd for Asian markets before the rest of the world.
“Here at Animoca Brands, we are incredibly excited to welcome the highly talented team behind Quidd, who will assist us in the execution of our vision for branded digital collectibles,” says Yat Siu, co-founder and chairman of Animoca Brands.
“Our brand portfolio will grow substantially through this acquisition, and we look forward to working with even more of the world’s most powerful intellectual properties such as Marvel, Game of Thrones, Star Trek, the NBA, and many others.”
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