The deal sees Animoca Brands acquire 100% of the issued capital of Fugu Raw Pty Ltd (Blowfish Studios) with the upfront $9 million consisting of $4 million in cash and $5 million in fully paid ordinary shares of Animoca.
Blowfish is an award-winning independent Sydney-based developer and publisher of multi-platform games, including Qbism, Siegecraft, Morphite, Projection: First Light, and Storm Boy. and the publisher of the upcoming Winter Ember, among others.
Blowfish was founded in 2010 by Benjamin Lee, a veteran of the computer software and 3D graphics industry, and Aaron Grove, an award-winning visual effects supervisor.
Animoca Brands says that with extensive experience in developing, porting, and publishing games for PC, Mac, PlayStation 4, PlayStation 5, Xbox One, Xbox Series X|S, Switch, iOS, and Android, as well as expertise in Virtual Reality (VR), Blowfish adds significant game development capabilities and expertise to the company.
Blowfish has a portfolio of 33 games, including both self-developed and published titles, that have been played by over 2.5 million people. Its pipeline includes a number of major upcoming projects to be announced shortly.
Animoca Brands says the current management of Blowfish will continue to operate the company after the acquisition, working closely with it to align efforts relating to blockchain integration, fungible tokens, non-fungible tokens (NFTs), play-to-earn capabilities, synergy opportunities, and product launches.
Yat Siu, co-founder and chairman of Animoca Brands, commented: “Animoca Brands is incredibly thrilled to welcome Blowfish, a team that significantly expands our capacity in the cross-platform games space and that has a strong interest in and understanding of blockchain.
“The combination of unique capabilities in AAA gaming and blockchain is a rare and valuable blend and we are already hard at work on a number of very exciting projects to be announced soon.”
Benjamin Lee, co-founder and managing director of Blowfish, said: “Joining the Animoca Brands family was a unique opportunity to grow the game development and publishing businesses of Blowfish, and to leapfrog to the forefront of blockchain gaming.
“We are incredibly excited about our major upcoming releases developed with Animoca Brands, which will change the perception of blockchain gaming for midcore and hardcore gamers everywhere.”