ICandy Interactive Limited (ASX: ICI)
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iCandy Interactive Limited (ASX: ICI) is an independent game developer across Australia and Southeast Asia, currently played by over 350 million players worldwide, with over 500 million downloads. [1] The company is a subsidiary of Fatfish Group Limited (ASX:FFG), formerly Fatfish Blockchain Ltd [2], a publicly traded venture investment and development firm.
Organisation[edit]
iCandy Interactive Limited employs over 600 full-time talents across Australia, Indonesia, Malaysia, Singapore, and Thailand.[3] The mobile games have been played by over 360 million gamers worldwide and iCandy Group is creating a pipeline of non-fungible tokens (NFTs) and video games for the metaverse with their strategic partner, Froyo Games. [4] iCandy Interactive Limited was founded by Kin-Wai Lau in June 2015, who is also a Co-founder at Fatfish Internet Group, Esports Players League, ASEAN Fintech Group and founded iFashion Group previously.
iCandy Group is backed by strategic shareholders such as Animoca Brands, Fatfish Group, Baidu, Singtel, SK Square, AIS, IncubateFund, and more.[5]
History[edit]
- In Feb 2016, iCandy Interactive Ltd was listed on Australian Stocks Exchange. [6]
- In Apr 2017, iCandy Interactive Ltd completed its acquisition of Singapore-based mobile game developer Inzen Studio at US$2.8 million.[7]
- In May 2018, iCandy Interactive Ltd acquired a 70 percent stake in Joyseed Games Tribe.[8]
- In November 2021, iCandy Interactive Ltd had entered a joint venture with Lemon Sky Studios to focus on developing 3D mobile games with cross-platform potential and of AAA quality.[9]
- In January 2022, iCandy Interactive Ltd acquired over 60% stake in Gameconomy Sbn Bhd for approximately A$479,263.[10]
- In February 2022, iCandy Interactive Ltd made a strategic investment in Froyo Games. Additionally, iCandy Interactive Ltd. had acquired over 51% of Southeast Asia- based game development company, Storms shares. Storms was jointly founded in March 2020 by Singtel, Advanced Info Service (“AIS”), and SK Telecom.[11]
- In June 2022, iCandy Interactive Ltd had acquired 60% of European game developer Flying Sheep Studios by investing a total of EUR 2 million. [12]
Subsidiaries[edit]
Lemon Sky Studios[edit]
Lemon Sky Studios was founded in 2006 and is an art outsourcing studio that custom visual art solutions for the video game and animation industry. The company is based in Kuala Lumpur, Malaysia and the list of clients includes renowned game developers and animation studios from Blizzard Entertainment, Bandai Namco, EA, Disney, Nickelodeon and more. Games span from Final Fantasy VII Remake, Diablo Resurrection, Marvel's Spider-Man and more.[13]
Appxplore[edit]
Appxplore (iCandy) Ltd. is a mobile game development studio established in 2011 and based in Kuala Lumpur, Malaysia. Their portfolio includes both mobile and crypto games, such as Claw Stars, Thor: War of Tapnarok, Lightopus, CryptantCrab, Alien Hive, CarneyVale and more. The release of earlier games has resulted in a total of over 25 million downloads, winning awards such as the International Mobile Gaming Awards with “Excellence in Gameplay” for Alien Path.[14]
Joyseed Gametribe[edit]
Joyseed Gametribe is a mobile game development studio based in Indonesia and aims to deliver high-quality games, blending real life into Massively Multiplayer Online games for the future. Their portfolio consists of games such as Hollywhoot - which won Game of the Year in Compfest 9 [15] and was nominated for IMGA SEA 2017. [16]
Gameconomy[edit]
Gameconomy are game tech developers that provide game analytics, economy, networking, data, and blockchain technologies to facilitate and ease the process of game development. They have since combined forces with iCandy Group to expand into both Web 3.0 and Metaverse. Its clientele consists of the Malaysian Government, Malaysia Airlines, Allianz Insurance, Genting Resorts World, and more.[17]
Storms[edit]
Storms is a Singapore-based startup focusing on social instant-play and hyper-casual mobile games that are focused on Web 2.0 and Web 3.0 games. Their portfolio has over 100+ games which includes the likes of Fruit Ninja, Tetris Survival, Jetpack Joyride and many more.[18] Storms are involved in helping brands create NFTs and enter the Metaverses. The Web 3.0 projects have since included Froyo Games, The Sandbox, and League of Super Misfits. [19]
Flying Sheep Studios[edit]
Flying Sheep Studios was founded in 2014 in Germany, to create cross-platform HTML5 games. Their portfolio involved building over 200 HTML-based web games for smartphones, tablets and more to create a frictionless experience for metaverse. Which includes a few key brands such as Lego, Barbie and Dreamworks.[20]
Froyo Games[edit]
Froyo Games[edit]
Froyo Games is a decentralized game publisher based in Singapore, that integrates its gaming ecosystem into the Metaverse.[21] It has foundations deep in blockchain technology to allow players to play, own and earn assets in the Froyo Marketplace. Froyo Games was established in December 2021 and plays an active role to implement gamified finance (GameFi) through a mix of both existing and new games with inhouse and strategic partners.[22] Wemade, a South Korea based video game developer behind games like Legend of Mir, has recently made a strategic investment in Froyo Games. [23]
$FROYO Tokenomics[edit]
Game developers utilise the Froyo Games platform to integrate Ethereum and Binance Smart Chain into games. The primary token is $FROYO, which will be used for game launch participation.[24]
$veFROYO is a vote-locking mechanism for the $FROYO token. Users can stake their coins by vote-locking their assets and NFTs and earn rewards on top of the holdings.[25]
Gamebox[edit]
Gamebox is a Web3 arcade to play competitive mini-games to win tickets and buy into raffles for prizes such as NFT collectibles and exclusive merchandise. Currently Early Alpha Access has ended and Beta Launch is expected to launch soon.[26]
Claw Stars[edit]
Claw Stars is a casual mobile game developed by Appxplore (iCandy) that was named as Malaysia's Google Play Best of Games in 2021. [27] It's universe is transformed by time in a world dominated by Hamsters. It is a mobile claw game, where the user can rescue cute animals, obtain unique collectibles, kidnap and fool friends, and to customise their own Spacesuit and Spaceship. [28] Claw Stars has announced its launch of NFTs on Galler.io and Binance from 5 August 2022 to 12 August 2022. [29]
References[edit]
- ↑ Lee, Faye (27 November 2020). "Lemon Sky & iCandy Are Pooling RM1mil To Create A New Company For AAA Mobile Games". Vulcan Post.
- ↑ "Fatfish Group Ltd FFG.AX". Reuters.
- ↑ "Here's cheers – iCandy's sweet German deal to gain fingerhold in European gaming market". Stockhead. 8 June 2022.
- ↑ "Australian mobile gaming firm iCandy buys 51 percent stake in Southeast Asian game developer Storms for $5.7M". Tech Node Global. 8 February 2022.
- ↑ Desiree, Durrani (24 May 2022). "iCandy Interactive (ASX:ICI) seeks approval for share buy-back". The Market Herald.
- ↑ "iCandy Interactive ASX: ICI Stock Report". Simply Wall St.
- ↑ Freischlad, Nadine (13 April 2017). "ASX-listed iCandy acquires Singaporean gaming studio". Tech In Asia.
- ↑ Craig, Chapple (21 May 2018). "Alien Path publisher iCandy buys Indonesian Hollywhoot developer Joyseed". Pocket Gamer.
- ↑ Tan, Joycelyn (25 November 2021). "iCandy acquires Lemon Sky for RM135mil to expand into AAA games & the metaverse". Vulcan Post.
- ↑ "iCandy Acquires Gameconomy". Tech Invest. 17 January 2022.
- ↑ Tchetvertakov, George (8 February 2022). "iCandy Interactive acquires Storms to continue Asia Pacific gaming spree". Small Caps Australia.
- ↑ Durrani, Desiree (8 June 2022). "iCandy (ASX:ICI) acquires 60pc stake in Flying Sheep Studios". The Market Herald.
- ↑ Ashraf, Faisal (27 September 2020). "Lemon Sky - the Malaysians behind Avengers and Starcraft". Malaysia Kini.
- ↑ Yoong Khan, Calvin Chow (15 October 2017). "The Winners of IMGA SEA 2017!". Sea IGN.
- ↑ Quinton, Catherine (3 November 2018). "Indie Prize Contestants From Asia At Casual Connect Asia 2018". Game Sauce.
- ↑ "2nd IMGA SEA: Nominated Games Revealed". IMGAwards. 5 September 2017.
- ↑ "iCandy plans entry into metaverse with gaming backend tech deal". Stockhead Australia. 14 January 2022.
- ↑ Batchelor, James (19 August 2021). "Singapore mobile games firm Storms opens development studio. Hypercasual firm partners with Voodoo, debut game has passed three million downloads". Games Industry.
- ↑ "iCandy acquires game studio Storms, spawning itself in the heart of Web 3.0 and the gaming Metaverse". Stockhead Australia. 8 February 2022.
- ↑ "Metaverse player iCandy to acquire 60% of EU HTML5 gaming company". Market Index Australia. 8 June 2022.
- ↑ "Froyo Games". CB Insights.
- ↑ "Froyo Games set to expand after game development partner acquires game studio". Coin Telegraph. 8 February 2022.
- ↑ Niño Bautista, Roehl (31 May 2022). "Mir4 developer Wemade backs SG play-to-earn platform". Tech In Asia.
- ↑ "Wemade invests in GameFi platform Froyo Games, supported by iCandy Interactive". Coin Telegraph. 30 May 2022.
- ↑ "Reposted Proposal for a Froyo Games ($FROYO) Syrup Pool and FROYO-CAKE Farm". Pancake Swap. 24 March 2022.
- ↑ "Froyo Games - A multi-chain GameFi infrastructure that gives a rise to the transformation of gaming and esports ecosystem into the Metaverse on #ETH and #BSC". ICO Holder.
- ↑ Bashir, Dale (7 December 2021). "Malaysian Game 'Claw Stars' Named One of Google Play's Best Games of 2021". SEA IGN.
- ↑ "Claw Stores - Appxplore (iCandy)". Google Play Games.
- ↑ "Froyo Games Announces Launch of Claw Stars NFTs on Binance and Galler.io". Meta Gaming. 5 August 2022.
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