9 March 2020

Dear Shareholders,

As indicated in our announcement “Removal from Official List,” as of today Animoca Brands is no longer listed on the Australian Stock Exchange (ASX). The reasons for this, and our best efforts to prevent it, are highlighted in the aforementioned announcement. We are very grateful for your continued support: without you, we could not have built Animoca Brands into the business it is today while cementing a leading global position in blockchain gaming. It is time for Animoca Brands to focus on building the business and delivering value to shareholders in an environment that is more welcoming to activities that involve virtual asset ownership through blockchain and non-fungible tokens (NFTs).

These are still early days for true digital ownership delivered through blockchain. While we have seen great results from our NFT pre-sales in our products such as The Sandbox and F1® Delta Time, we believe the best is yet to come. 

There are some very encouraging early signs for virtual ownership and blockchain. Andreessen Horowitz recently led a US$150 million investment into Roblox at a reported US$4.5 billion valuation (Roblox is a centralized user generated content game that has gameplay similar to our own The Sandbox, with the important difference that The Sandbox is decentralized and gives players the benefits of true digital ownership). Also worthy of note is that technology giant Microsoft recently ventured into the NFT space with Azure Heroes, blockchain digital badge collectibles for the technical community, and Arena of Death, a blockchain card game based on The Way of the Tiger series of gamebooks. 

So what’s next for Animoca Brands? We believe that being a publicly-traded company on the right exchange is the best option for our business. While this carries both cost and responsibility, those are modest compared to the benefits that a public listing provides to shareholders and the company. Many of our investors have asked about our plans for liquidity, and we have kept this top of mind. 

It’s for these reasons, among others, that we intend to pursue an initial public offering on another exchange as soon as practicable. Owing to the hostility displayed by the ASX toward our blockchain related activities, we have for some time been working towards listing on another exchange, although it would be premature to disclose anything further today.

In terms of a timeframe for a public listing, we hope to report concrete progress very soon. We will be updating regularly from our website and through our mailing list and, when appropriate, the Australian Securities and Investments Commission (ASIC). The one thing that we want to make clear is that we are dedicated to looking after the interests of our shareholders, and this is exactly why we believe that Animoca Brands will have better opportunities on an exchange that is more compatible with our vision for the future of video gaming (not to mention the many other industries that blockchain is already impacting). We look forward to sharing our progress with you as this exciting future unfolds. 

We want to ensure that all shareholders remain fully informed, so please refer to our web site at www.animocabrands.com for all news about the company. If you have not already done so, please sign up for our mailing list at https://www.animocabrands.com/investors or by sending an email to shareholder@animocabrands.com

On the basis that Animoca Brands has been removed from the Official List of the ASX, the Board will follow ASIC’s Good Practice Guidance for unlisted disclosing entities’ continuous disclosure requirements for website disclosure and comply with all applicable corporate governance practices.

Thank you again for your support. 

Sincerely,
The Chairman, the CEO, and the Board of Directors 
Animoca Brands

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

Copyright © 2020 Animoca Brands Corporation Limited. All rights reserved.

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