Animoca Brands Executes China Distribution Deal For Crazy Kings With Upfront Payment Of A$1M
Animoca Brands announces license agreement with Beijing Bosi Interactive to market and publish the Android and HTML5 versions of Crazy Kings in China
Animoca Brands to receive upfront payment of RMB 5.1 million (~A$1 million), as well as a share of the revenue generated by the Game
Beijing Bosi Interactive is a mobile games distribution and marketing company with access to China’s dominant telecom companies, which together serve approximately 1.5 billion consumers
Animoca Brands Corporation Limited (ASX:AB1, the “Company”) is pleased to announce that it has secured an exclusive licensing agreement (the “Agreement”) with Beijing Bosi Interactive (“BBI”) granting BBI the license to distribute the Android and HTML5 versions of Animoca Brands’ successful Crazy Kings mobile game in China (the “Game”) for an upfront consideration of RMB 5.1 million (~A$1 million) plus monthly revenue sharing.
Beijing Bosi Interactive is a mobile games distribution and marketing company that has established relationships and the required licensing arrangements with the main three Chinese telecom companies: China Mobile, China Unicom, and China Telecom; these telecoms serve 1.5 billion consumers on mobile and fixed line carriers.
Crazy Kings is a tower defence and collectible card fantasy mobile game developed by TicBits Oy, the Finnish mobile games subsidiary of Animoca Brands. Crazy Kings is already published globally for Apple iOS devices by the Company; the Android and HTML5 versions are expected to be completed in or around the middle of 2019.
Under the Agreement, BBI becomes the exclusive distributor in China for the Android and HTML5 versions of the Game, excluding the territories of Hong Kong and Macau. Animoca Brands will receive an upfront consideration of RMB 5.1 million (~A$1 million), which is expected in the current quarter, and is entitled to a share of monthly revenue generated by the Android and HTML5 versions of the Game within China.
Separately, the Company wishes to advise that the development of the Android version of Crazy Defense Heroes – the sequel to Crazy Kings – is progressing on schedule and will be completed around the end of the current quarter.