15 August 2019
Mutual investment agreement with Versus Systems to drive in-game revenue and player engagement
Animoca Brands and Versus Systems (“Versus”) will transfer to each other fully paid ordinary shares of their companies equal in value to US$0.5 million
Versus is an advertising company listed on the Canadian Stock Exchange, focusing on the development of in-game prizing and promotion tools
Versus developed the Winfinite platform, a set of products that allow publishers and developers to offer in-game prizing across mobile, console, PC games, and streamed media
Following the share exchange, Animoca Brands and Versus will progress the framework for a strategic cooperative agreement
Animoca Brands Corporation Limited (ASX: AB1, “Animoca Brands,” or the “Company”) is pleased to announce that it has entered, via its wholly owned subsidiary Animoca Brands Limited, into a mutual investment agreement (the “Agreement”) with Versus Systems Inc. (CSE: VS, OTCQB: VRSSF, “Versus"). Under the Agreement, Animoca Brands and Versus Systems will transfer to each other fully paid ordinary shares of their companies equal in value to US$0.5 million.
Versus is an advertising company listed on the Canadian Stock Exchange, focusing on the development of in-game prizing and promotion tools. Versus has developed the proprietary Winfinite platform, a set of products that allow publishers and developers to offer in-game prizing across mobile, console, PC games, and streamed media. Through Winfinite, advertisers can offer product and digital goods as prizes that players can earn through in-game achievements.
Winfinite provides players and viewers an opportunity to play for things they love, and gives businesses and brands a powerful new way to reach their potential audience. To date, there have been over half a million in-game challenges completed through Winfinite.
Following the share exchange, Animoca Brands and Versus will progress the framework for a strategic cooperative agreement, whereby Animoca Brands will potentially utilise the Winfinite platform for advertising via the Company’s established partnerships with iClick, Talenthouse, and Gamma Innovations.
Animoca Brands and Versus will transfer to each other fully paid ordinary shares of their companies equal in value to US$0.5 million. Pricing of the Versus shares issued to Animoca Brands will be based on the higher of C$0.23 or the 21-day volume weighted average price (VWAP) on the date the deal is approved by the board and shareholders (if required) of Versus. At the date of this announcement Versus had 128,235,635 securities on issue. Pricing of the Animoca Brands shares issued to Versus will be based on the higher of A$0.18 or the 21-day volume weighted average price on the date the transaction is approved by the Company’s shareholders for the purposes of Listing Rule 7.1. All shares will be subject to a lock-up period of 24 months.
The Agreement is subject to Animoca Brands’ shareholder approval for the purposes of Listing Rule 7.1.
Yat Siu, co-founder and chairman of Animoca Brands, said: “Versus Systems has the ability to provide Animoca Brands with technology which will be beneficial to the Company on a number of levels. Animoca Brands will explore the possibility of leveraging any of its multiple partnerships for advertising benefit, and explore ways to utilise Winfinite in its existing games portfolio.”
Matthew Pierce, Founder and CEO of Versus Systems, commented: “The combination of Animoca Brands’ content, gaming, and blockchain-enabled platforms with Versus Systems’ proprietary rewards and engagement engine will generate new opportunities to enhance the audience and gaming experience while increasing revenues and user growth.”
About Versus Systems Inc.
Versus Systems (CSE: VS) (OTCQB: VRSSF) has developed WINFINITE - a proprietary in-game prizing and promotions engine that allows game publishers and developers to offer in-game prizing across various platforms including mobile, console, PC games, and streaming media. Brands pay to place products in-game via WINFINITE, and gamers compete for those prizes.
For more information on Versus Systems' new platform, WINFINITE, visit www.versussystems.com or visit Versus Systems official YouTube channel.
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 Formula 1®, Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. 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.