ASX Release

20 September 2018

 

Animoca Brands partners with OpenST Limited to develop blockchain-powered games

 

Highlights:

  • Animoca Brands and OpenST Limited partner to develop products utilising blockchain technology developed by OST.com Limited (OST KIT, OpenST Protocol and OpenST Mosaic Protocol)

  • Animoca Brands will act as an advisor to OpenST Limited

  • OpenST is a set of protocols that can be utilised by holders to create their own branded tokens leveraging the security of Ethereum and also the scalability of OST’s utility chains

  • OpenST Limited previously raised 46,828 Ether in a token sale at the end of 2017

  • OST.com Limited is backed by prominent investors including Tencent, the world’s largest gaming company, 500 Startups, and Greycroft

  • The partnership represents another step in the Company's strategy to introduce blockchain technology and products to the consumer mass market 

 

Animoca Brands Corporation Limited (ASX: AB1, the “Company”) is pleased to announce that it has entered into a strategic partnership (the “Agreement”) with OpenST Limited to develop blockchain games by leveraging OST KIT and the OpenST and OpenST Mosaic Protocols, blockchain infrastructure developed by OST.com Limited (company and services collectively,“OST”).

 

OpenST Limited is a non-profit company whose mandate is to support the OpenST Protocol and advance the OpenST developer ecosystem. OpenST Limited raised 46,828 Ether through a token sale of its Simple Token in November 2017.

 

OST is a leading technology developer in the blockchain and digital token space, and lead developer of the OpenST and OpenST Mosaic Protocols. OST has received backing from prominent investors including Tencent Holdings Ltd., 500 Startups, and Greycroft.

 

OST empowers businesses to run token economies in their own apps. OST develops the OpenST Protocol, a framework for building highly scalable blockchain token economies. OST blockchain technology empowers businesses to easily launch and integrate branded tokens into their apps and platforms to transform their communities into dynamic ecosystems. The OST technology stack allows for designing, staking and minting ERC-20 Branded Tokens, as well as for integrating user balances and transaction histories, user and identity verifications and parameters, airdrops, and analytics. OST is also involved in the creation of decentralised apps (DApps).

 

Under the agreement, Animoca Brands and OpenST Limited will partner to develop products utilising OST and integrate OST in some of the Company’s existing and future products, including WalletPet, the Company’s gamified cryptowallet, currently in beta testing. Animoca Brands will also serve as advisor to OpenST Limited, assisting it to bridge the gap between blockchain and mainstream consumer apps, and both companies also agreed to develop further strategic ties in the future.

 

Yat Siu, co-founder and board director of Animoca Brands said: “By partnering with OpenST and OST, Animoca Brands is building a powerful strategic foundation for long-term blockchain development, and securing a savvy partner who has already produced a high-demand utility token and an innovative tokenisation platform. We look forward to collaborating to bridge the gap between blockchain technology and mainstream consumer applications as we bring DApps into the mainstream, to the hundreds of millions of users who have yet to experience the impact of blockchain directly.”

 

Dr. Chris Dark, co-founder of OST and board director of OpenST Limited said: “As a blockchain enthusiast and also a long-time gamer, I am excited to work with the Animoca Brands team. In traditional games, players could earn points but had limited options in terms of spending or selling them. With blockchain tokens, such constraints disappear and there are countless possibilities to explore. OST has already built many of the blockchain tools that gaming developers need, so there are strong synergies with Animoca Brands’ expertise in gaming, blockchain, and AI.”

 

-END-

 

About Animoca Brands
Animoca Brands (ASX: AB1) publishes and develops a broad portfolio of mobile games and subscription products including games such as Crazy Kings, Crazy Defense Heroes as well as products based on popular intellectual properties such as Garfield, Thomas & Friends™, Ever After High and Doraemon; in addition, Animoca Brands is the exclusive China distributor of CryptoKitties. The Company is based in Hong Kong 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. OST is a public blockchain platform designed for the needs of businesses with millions of users. Launch your own Branded Tokens with OST technology and turn your business into a dynamic ecosystem. OST is built on the OpenST Protocol, a framework for building highly scalable blockchain token economies. OST has offices in Berlin, New York, Hong Kong, and Pune. For more information, please visit: https://ost.com.

Press Contact: Wouter Verhoog | wouter@ost.com| @wouterverhoog

 

Press Contact: press@animocabrands.com

Address: Unit 417-421, Cyberport 1, 100 Cyberport Road, Hong Kong

Copyright © 2019 Animoca Brands Corporation Limited. All rights reserved.

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