29 April 2019
Animoca Brands invests in blockchain games developer Experimental
Animoca Brands participates in seed round of funding for Experimental Group Ltd.
Experimental is the Argentinian blockchain gaming studio behind CryptoWars, the first fully decentralized game
CryptoWars is a popular blockchain-based strategy game and the first of its kind to run entirely on smart contracts (all in-game items are fungible and non-fungible tokens)
Animoca Brands and Experimental will market and promote each other to their respective platforms and networks of partners
Discussions ongoing for additional collaboration opportunities, including distribution of Experimental’s games
Animoca Brands will act as advisor to Experimental forAsian markets and gaming
Animoca Brands Corporation Limited (ASX: AB1, “the Company”) is pleased to advise that it has entered into a simple agreement for future equity (“SAFE”) with blockchain gaming studio Experimental Group Ltd. (“Experimental”) to participate in Experimental’s seed round of funding.
Experimental is a blockchain gaming studio based in Argentina that has produced CryptoWars, the very first fully decentralized game. Experimental was founded by Matías Nisenson (the CEO) and Luciano Bertenasco (the CTO), two young entrepreneurs who sold their previous software company Tiempy.com.
Experimental successfully completed its seed round, raising over US$500,000 from serial entrepreneur and investor Sumit Gupta (who sold his gaming company for US$170m, invested in Discord, founded Boom TV), Pato Jutard (who sold his gaming company to Disney), Julien Turri (who sold two companies and is the owner of one of the major performance marketing agencies in Brazil), and Argentina's government-backed venture capital firm YAVU, among others.
CryptoWars, the main product of Experimental, is a strategy simulation game built on the Ethereum blockchain. It launched in January 2019 and quickly became highly popular among thousands of blockchain gamers, clogging the Loom network several times and processing 450,000 transactions in a single week. Players in CryptoWars create and customize a settlement, form alliances, build armies, and wage war over the control of nearby realms.
CryptoWars is the first strategy game to run entirely on smart contracts, meaning that all in-game items obtained by players truly and verifiably belong to them in the form of fungible tokens and non-fungible tokens (NFTs).
The amount invested by the Company into Experimental was not material. In addition to the investment, Animoca Brands and Experimental have agreed to market and promote each other to their respective platforms and networks, collaborate on the launch of CryptoWars in Asia, and discuss additional opportunities for collaboration, including distribution of Experimental’s products. Animoca Brands will also act as an advisor to Experimental in matters connected to Asian markets and gaming.
Yat Siu, co-founder and chairman of Animoca Brands, said: “We are thrilled with our third investment in an Argentinian company. Experimental is a true pioneer in blockchain gaming, with the first decentralised strategy game to run entirely on smart contracts. We believe in the capabilities of its highly competent management team and look forward to working together on many exciting projects.”
Matías Nisenson, the CEO of Experimental, commented: “We’re excited to join forces with Animoca Brands and other amazing investors to bring blockchain gaming into the mainstream! Expect some amazing news from CryptoWars in the near future, now that we have the team, the funds and the perfect fit!”
Experimental is a game development studio producing blockchain-based games that are not only incredibly fun to play but also allow users to monetize their gaming experiences. The studio developed CryptoWars (CryptoWars.jp), the first fully decentralized strategy game played by thousands of users around the globe.
About Animoca Brands
Animoca Brands (ASX: AB1) leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products including games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products based on popular intellectual properties such as Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands is the exclusive China distributor of CryptoKitties. The Company is based in Hong Kong, Canada, Finland, and Argentina. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.