SYDNEY, AUSTRALIA: iCandy Interactive Ltd (ASX: ICI) introduced the completion of the 60% acquisition of Southeast Asia based gaming backend technology instruments provider, Gameconomy Sdn Bhd.
iCandy acquired 60% of Gameconomy for a complete consideration of MYR 1.5 million (A$ 497,264).
Gameconomy, which is a gaming backend technology development firm with a track record in developing metaverse-related applied sciences such as smart contracts, counts MYEG Services Bhd (MYEG), Malaysia’s flagship e-Government options and services provider, as one of its noteworthy clients.
Gameconomy is additionally within the midst of developing a metaverse-related real-time player-versus-player (PvP) game and can leverage iCandy’s strong operational track record for an anticipated launch within the primary half of 2022.
The Management at iCandy, in addition to Gameconomy, recognise many synergies between the companies, with Gameconomy making a nice complementary addition to iCandy’s horizontally built-in gaming enterprise mannequin by augmenting its software program engineering and technology capabilities. Together, the mixed enterprise entity is anticipated to become a key participant within the metaverse and Web 3.0 gaming space.
www.icandy.io