Animoca acquires digital collectible firm Quidd for $8 million

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Animoca Brands Corporation has acquired the world’s leading digital collectible firm Quidd for approximate $8 million. Quidd allows users to buy and sell digital goods on the website like eBay. Currently, Quidd has the license of over 325 individuals brands, which include Disney, Marvel, HBO, and many others. It also has a userbase of almost 7 million unique users who are mostly from the United States. The digital collectible company had an average of 208,000 monthly active users for the first half of 2019.

Quidd was founded by members of Topps, which is a well known sports-themed memorabilia and collectibles industry in America. Hong- Kong-based Animoca is planning to merge blockchain technology with digital collectible industry, and this is said to be the first step to achieve the goal. By adding blockchain, Animoca Brands will be able to uniquely identify rare digital goods, enabling real digital ownership for users.

Quidd has partnerships with brands like the NBA, HBO, and Marvel

Co-founder and chairman of Animoca Brands, Yat Siu said that they are incredibly excited to welcome the team of Quidd and are looking forward to work with world’s most powerful intellectual properties such as Marvel, Game of Thrones, Star Trek, the NBA, and many others.

According to the press release, Animoca will pay $5 million upfront and $3 million on achieving profit goals. Animoca is based in Hong Kong and is listed in Australia’s national stock exchange.

In a statement CEO of Quidd, Bramlage said that joining the Animoca Brands would help them accelerate their mission to bring Quidd’s inimitable catalog of digital collectibles to a global audience.

Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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