Pixowl is currently in the process of transferring the Sandbox IP to TSB Gaming, in return for which TSB Gaming will issue 10 million newly issued shares to Pixowl. TSB Gaming currently has 1,200 ordinary shares outstanding, all of which are owned by Pixowl. is a wholly owned spin-off company of Pixowl, incorporated in Malta in September 2018, set up to hold all the intellectual property (both new and existing) for The Sandbox (the “Sandbox IP”) and to manage the development and operation of The Sandbox game platform. In 2018, Animoca Brands acquired the entirety of Pixowl and all of its assets, including The Sandbox (refer to ASX announcement of 27 August 2018). Kakao has a market cap of approximately US$9.2 billion (approximately A$13.3 billion) and is one of the dominant messaging apps with over 50 million monthly active users worldwide. (“Klaytn”), a recently established permissioned blockchain project led by Kakao, the largest instant-messenger corporation in Korea, to distribute, promote, and market The Sandbox game through its ecosystem, which includes Kakao. Ltd., and Alexis Bonte (a partner at Atomico Ventures, the leading technology venture capital firm in Europe), among others (the “Investors”).Īdditionally, TSB Gaming has also entered into a Partnership Agreement with Klaytn PTE. Other investors included Helix Accelerator Limited, Mind Fund Group Ltd., Blocore (Gameberry Inc.), Thundercore Token Ltd., Klaytn PTE. The investment into TSB Gaming was led by Distributed Protocols PTE LTD (“ Hashed”), the largest crypto assets fund and accelerator in South Korea, with operations based in San Francisco and Seoul. SAND will be utilised in the upcoming blockchain version of The Sandbox user generated content game platform (the “ Game”). The majority of Investors allocated their investment to the purchase of both SAND and future equity via the SAFE notes (in the amount of US$2 million), while some Investors allocated their investment exclusively to the purchase of SAND tokens (US$500,000). (“TSB Gaming”) has raised US$2.5 million (approximately A$3.6 million), consisting of 40% in cash and 60% in Bitcoin cryptocurrency, through the issue of “SAND” utility tokens and simple agreement for future equity (SAFE) convertible securities. The Company expects The Sandbox’s decentralised marketplace to launch Q3 2019Īnimoca Brands Corporation Limited (ASX: AB1, “ Animoca Brands,” or the “ Company”) is pleased to advise that its wholly owned subsidiary TSB Gaming Ltd. The Sandbox is currently a highly successful mobile game franchise (40m installs, 1.2m active monthly users) once the blockchain version is launched it will become one of the first decentralised, community driven game platforms, providing users with true ownership of their creations as non-fungible tokens (NFTs: virtual tokens for digital scarcity, security and authenticity representing game items) Klaytn is the blockchain platform and subsidiary of leading Korean mobile technology company Kakao, the dominant messaging app in South Korea with over 50 million monthly active users and ~US$9.2bn market cap Partnership with Klaytn to distribute The Sandbox through its Klaytn ecosystem. The investment was led by Hashed, the largest crypto assets fund and accelerator in South Korea, with operations based in San Francisco and Seoul Animoca Brands receives approx A$3.6 million (US$2.5m) in cash and cryptocurrency via the issue, by its wholly owned subsidiary TSB Gaming Ltd., of SAFE convertible securities and SAND utility tokens to fund development of the upcoming blockchain version of The Sandbox “The Sandbox” (TSB Gaming) receives ~$3.6m in investment from major blockchain companies MHRA 'TSB', All Acronyms, 2 July 2023, Bluebook All Acronyms, TSB (Jul. TSB, All Acronyms, viewed July 2, 2023, MLA All Acronyms. Retrieved July 2, 2023, from Chicago All Acronyms. Facebook Twitter Linkedin Quote Copy APA All Acronyms.
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