According to the announcement, the acquisition is expected to help boost Animoca Brands’ core games business capabilities to keep up with the core gaming market and increasing popularity of real-time multiplayer gaming on different gaming platforms.
Animoca Brands invested in nWay for its skills in developing and publishing real-time multiplayer games across different platforms such as gaming consoles, PC, and mobile devices. NWay was also recognized for its existing range of video games, which includes Power Rangers: Battle for the Grid, Power Rangers: Legacy Wars, and ChronoBlade.
The acquisition falls under Animoca Brands’ brands-based strategy.
In return, nWay will take advantage of the agreement to continue developing its own games, host third party games, and learn about blockchain-based in-game prizing, all as part of an effort to boost its position in the competitive multiplayer games space.
“Animoca Brands and nWay will work together to use blockchain technology to bring about important innovation on how competitive multiplayer games are monetized,” the announcement notes.
The acquisition is still subject to approval by Animoca Brands’ shareholders, satisfactory completion by the company of its due diligence, and accomplishment of necessary regulatory approvals.