OST Expands Partnership With Animoca Brands
We’re pleased to announce today that OST is expanding its partnership with Animoca Brands to develop blockchain games.
Publicly traded 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, Thomas & Friends™, Ever After High and Doraemon.
Animoca Brands and OST previously formed a partnership to develop a mobile game on OST technology.
Under the terms of the expanded partnership, OST and Animoca will collaborate to develop games specifically on OST technology. The partnership will focus on new product creation and innovation, with the aim to promote blockchain usage and adoption amongst mainstream consumers. In addition, Animoca and OST will conduct a share / token swap to align incentives and mutual interests.
Animoca Brands will exchange US$200,000 (approximately A$280,000) of the Company’s shares in return for an equivalent amount in OST Tokens. For this transaction, the price of both Animoca Brands and OST Tokens exchanged will be priced at a 21-day VWAP as of 4 October 2018. Swapped shares and tokens will be subject to a 24-month escrow period.
Dr. Chris Dark, co-founder and Chief Commercial Officer of OST, who led the partnership commented:
“We are excited to deepen further our partnership with Animoca Brands, and to begin working together on a mobile game leveraging OST’s technology and Animoca Brands’ deep catalogue of game IP right away.”
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, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands is the exclusive China distributor of CryptoKitties. The Company is based in Hong Kong, Canada, and Finland. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook, Twitter or Google +.
About OST
OST blockchain infrastructure empowers new economies for mainstream businesses and emerging DApps. OST leads development of the OpenST Protocol, a framework for tokenizing businesses. In September 2018 OST introduced the OpenST Mosaic Protocol for running meta-blockchains to scale Ethereum applications to billions of users. OST KIT is a full-stack suite of developer tools, APIs and SDKs for managing blockchain economies. OST partners reach more than 200 million end-users. OST has offices in Berlin, New York, Hong Kong, and Pune. OST is backed by leading institutional equity investors including Tencent, Greycroft, Vectr Ventures, 500 Startups.
