Hong Kong-based mobile publisher Animoca Brands has acquired a 75 percent stake in developer Skytree for $850,000 in cash and shares.
Skytree, which is also headquartered in Hong Kong, has expertise in trading and collectible card games. The mobile studio's portfolio includes original titles like Hachi Hachi and Trilliona, which have together accumulated 5 million downloads across iOS and Google Play.
Animoca hopes the move will boost its own development capabilities with regards to its recent licensing arrangements with major international sports brands like Formula 1, Major League Baseball, and the Bundesliga.
Meanwhile, the company also claims Skytree's own portfolio offers "commercial opportunities for publishing and distribution, as well as blockchain integration."
"We’re extremely excited about the opportunity to bring Trillionia to blockchain," commented Animoca chairman and co-founder, Yat Siu. "Not just because it’s a polished game that recently won the top digital entertainment award in Hong Kong, but also because its board game and collectible trading card game elements make it an ideal candidate for blockchain and NFTs."