Atari: Expansion of the Partnership With Animoca Brands
Expansion of the partnership with Animoca Brands
- Atari and Animoca Brands expand their collaboration in the area of blockchain games
- Animoca Brands becomes the preferred supplier of blockchain gaming content on the Atari VCS
- Non-exclusive distribution agreement for the Atari VCS in Asia
The Atari Group, one of the world’s most iconic consumer brands and interactive entertainment producers, announces a significant expansion of its existing partnership with Animoca Brands, a leading digital entertainment company specializing in blockchain and gamification.
In December 2018, Atari had announced a licensing agreement with Animoca Brands for the development of blockchain versions of its mobile games RollerCoaster Tycoon Touch and Goon Squad.
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In light of the launch of the virtual world The Sandbox (with a wider launch scheduled for Q4 2020), Atari and Animoca Brands have agreed to expand their collaboration, with the global (ex-China) licensing agreement now including 15 new titles from the Atari catalog (amongst which are the iconic games Centipede, Pong, Breakout, Asteroids, and Missile Command). Animoca Brands will have the right to develop and publish blockchain versions of these titles, which will feature the integration of non-fungible tokens (NFTs). The term of the agreement extends through to January 31, 2025. As consideration for the expanded full license to develop and publish the games, Animoca Brands will pay a minimum guarantee against future revenues to Atari payable through the issuance of 18.7 million shares of the company priced at 0.21 Australian dollars per share.
Atari and Animoca Brands have also agreed to team up in order to promote the access to blockchain gaming content on the Atari VCS. As one of the world’s leading players in this area with games including F1® Delta Time and The Sandbox, Animoca Brands represents an ideal partner to enrich the Atari VCS ecosystem, whose objective is to attract the largest possible number of blockchain enthusiasts on its platform. Animoca Brands will become the preferred provider of blockchain gaming content with an exclusive featuring on the Atari VCS homepage. The term of this exclusivity agreement extends through to September 30, 2022. As consideration for this exclusivity, Animoca Brands will pay a minimum guarantee against future revenues to Atari of 320,000 USD, payable at its discretion in cash or through the issuance of 2.2 million shares of the company priced at 0.21 Australian dollars per share before July 31, 2021.
As part of this new agreement, Atari and Animoca Brands have also entered into a non-exclusive online distribution agreement for the Atari VCS for Asia (excluding Australia and New-Zealand). Animoca Brands will set up and operate its own online retail store covering the region. The agreement takes effect as of the date of signing and extends through to September 30, 2022.
Lastly, Atari and Animoca Brands have reached an agreement in principle for a token swap between the Atari Token and tokens owned by Animoca Brands, in limited amounts of less than 100,000 USD.
“We are thrilled to strengthen our partnership with Animoca Brands, whose vision for the integration of blockchain technology into video games is perfectly aligned with ours. When we signed the initial agreement, we always envisaged to expand it to the most iconic games of the Atari catalog to turn them into blockchain games” declared Frederic Chesnais, CEO of Atari. “Our ambition for the Atari VCS is to develop an ecosystem that gives users access to the largest number of tools for creation and entertainment. Blockchain games inside a virtual world are a perfect example for the types of entertainment that we want to propose to the Atari VCS userbase. It was the natural choice to ask our partner Animoca Brands, whose leadership in blockchain gaming is unquestioned, to offer their blockchain gaming content directly on the Atari VCS.”
Yat Siu, co-founder and chairman of Animoca Brands, said:
“This significant expansion of our partnership with Atari allows Animoca Brands to leverage some of the greatest ever classic games into our blockchain strategy and on our popular platforms, including the hypercasual gaming platform Gamee and the digital collectibles platform Quidd. We are very excited at the opportunity to catapult these nostalgic, history-making games into the future.”
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