Animoca Brands to acquire nWay, developer and publisher of POWER RANGERS: Legacy Wars

Animoca Brands Corporation Limited is pleased to advise that it has entered, via its wholly owned subsidiary Animoca Brands Limited, into a non-binding memorandum of understanding to acquire 100% of the issued capital in nWay, Inc from the shareholders of nWay for an upfront consideration of US$7.69 million (approximately A$11.4 million). The Acquisition is subject to shareholder approval, execution of a formal agreement, satisfactory completion of due diligence, and the obtaining of any necessary regulatory approvals.
nWay is a game developer and publisher of high-quality AAA games on console, PC, and mobile platforms.
nWay is a San Francisco based developer and publisher of competitive multiplayer games across mobile, consoles, and PC. nWay has a strong track record in developing high-quality, fast action multiplayer games. nWay has developed and published three games: POWER RANGERS: Battle for the Grid, the popular tag-team fighting game with crossplay functionality on Nintendo Switch, Xbox One and PC; POWER RANGERS: Legacy Wars, the award-winning mobile fighting game on iOS and Android with over 50 million downloads; and ChronoBlade, nWay’s original mobile action role-playing game.
nWay has a global license (with some territories excluded for some products) granted by Lionsgate and Hasbro to make use of the Power Rangers brand to develop and publish POWER RANGERS: LegacyWars and POWER RANGERS: Battle for the Grid on mobile (iOS, Android), Smart TV platforms, consoles (including handheld consoles), and PC. The license expires on the earlier of the third anniversary since launch of the branded product or 20 September 2020, with automatic renewal for one year based on revenue benchmarks, after which the renewal term can be further extended by up to another three one-year periods, on a rolling basis, upon mutual agreement by the parties in writing. nWay pays a royalty for the use of the Power Rangers brand. LegacyWars launched on 23 March 2017. Battle for the Grid launched on 25 March 2019.

nWay has also recently announced nWayPlay, a platform in development that provides developers with complete backend and fully managed live-ops services to quickly develop and operate competitive multiplayer cross-platform games. nWayPlay’s platform features include cross-play and cross-progression functionality, low-latency real-time multiplayer framework, live-ops tools, and geo-distributed hosting with custom matchmaking logic that ensures optimal networked gaming experience with scalability and stability. nWayPlay also provides a unified player identify and friends system, which enables players to log-in, connect and play together with friends across different platforms such as consoles, PC, and mobile.
nWayPlay aims to dramatically reduce barriers to entry for the development of multiplayer online games, and empower a new generation of developers to create competitive multiplayer games. nWayPlay is currently available for alpha partners and is expected to launch in 2020.
nWayPlay will charge service fees based on clients’ monthly active users. nWay owns the technology IP of the nWayPlay platform, but any game IP making use of the platform will remain the property of the developer or the developer’s licensor.
Additionally, nWay is currently developing a marketplace and frictionless prizing system for nWayPlay that will utilise non-fungible tokens (NFTs) to further increase player engagement and unlock new monetization models for games on the nWayPlay platform.
nWay was founded in 2011 by gaming and startup veterans Taehoon Kim, Dave Jones, and Tony Harman. Mr Kim, chief executive officer of nWay, previously co-founded Pixelberry and Nurien Software, developing and launching massively multiplayer game MStar and Nurien, a 3D virtual worlds platform with one of the most advanced and life-like avatar technologies at the time. From 2002 to 2005, Mr Kim was part of Samsung Electronics’ New Business Development team that spawned the smartphones and mobile gaming platform business.
The team of nWay is comprised of highly experienced developers and executives who have worked at major technology companies including Google, Tencent, Sony, Electronic Arts, Nintendo, LucasArts, Blizzard, Kabam, Nexon, and NCSoft. They have collectively contributed to over a dozen internationally successful mobile, console, and online AAA games such as Diablo II, FIFA Online, Battlefield Online, Lineage II, Star Wars: The Force Unleashed, Star Wars Uprising, Heroes of Newerth, and Marvel Contest of Champions.
About nWay nWay is a San Francisco based developer, publisher, and tech platform for competitive multiplayer games across mobile, PC, and consoles. nWay’s proprietary backend tech platform nWayPlay is expected to launch in 2020 and will enable fast development, prototyping, and operations of cross-play, real-time multiplayer games. The company has a strong track record of developing AAA quality games on mobile and on console, namely the recently launched POWER RANGERS: Battle for the Grid, POWER RANGERS: Legacy Wars, and ChronoBlade. nWay is comprised of leading developers and senior executives from Sony, Electronic Arts, WB Games, LucasArts, Kabam, Nexon, and NCSoft. Collectively, the team has contributed to over a dozen hit mobile, console, and online games, including Marvel Contest of Champions, Injustice, Star Wars: The Force Unleashed, Dominations, FIFA Online, Battlefield Online, Lineage II, and Warhammer Online.
For more information about nWay visit https://nway.com.
About Animoca Brands Animoca Brands (ASX: AB1) leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products including games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products based on popular intellectual properties such as Formula 1®, Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. The Company is based in Hong Kong, Canada, Finland, and Argentina. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.

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