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Animoca Brands enters cooperation agreement with 9Games for mainland China-focused mobile game expansion

Proactive Investors Thursday, 23 May 2019
Animoca Brands Corporation Ltd (ASX:AB1) has entered a mobile game cooperation agreement with 9Games, a unit of digital media and entertainment business group Alibaba. The agreement aims to support the expansion of partner iCandy’s mobile game Groove Planet into mainland China, with 9Games to localise and market the game for both Android and iOS. China gaming market is lucrative for mobile game developers, accounting for revenue of US$20 billion in 2018 and predicted to grow.       The two companies will benefit from 9Games’ strong Chinese market presence, knowledge of Chinese consumer behaviour and established distribution channels. 9Games will localise and publish the game for Android with the licence and relevant technical support provided by Animoca and iCandy. READ: Animoca Brands’ subsidiary raises $3.6 million to fund blockchain version of tokenised gaming platform Groove Planet was initially acquired from Animoca Brands, a substantial shareholder of iCandy. iCandy currently holds exclusive global rights to the game while Animoca is the record holder of the ownership rights. Revenue generated will be shared by 9Games and iCandy, on commercial terms in line with industry practice. Animoca is entitled to a proportion of the revenue received by iCandy.
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