Based in New York City, Quidd owns and operates the leading global marketplace for buying and selling digital collectibles. The Quidd marketplace, catalog, and collections are accessed by a community of end-users via the Quidd mobile application, or app, available free of charge on iOS and Android devices.

​

Quidd currently has the world’s largest assortment of digital collectibles licences and partnerships (over 325 individual brands), featuring top content owners across multiple verticals; partners include Disney, Marvel, HBO (Game of Thrones), CBS (Star Trek) and NBA, among others. Quidd has issued and sold over 2.1 billion individually-serialized digital collectibles. Quidd had an average of 208,000 monthly active users for the first half of 2019, with the majority of those users being in the United States.

​

Quidd was launched  in 2016 by digital collecting experts Michael Bramlage and Erich Wood. Previously, Mr Bramlage, Quidd’s CEO, served as General Manager and Vice President of the digital division of Topps, the leader in the sports memorabilia and collectibles industry. While there, he and Mr Wood began experimenting with concepts of digital scarcity and digital ownership, eventually building and scaling a multi-million dollar digital trading card business. Prior to that, Mr Bramlage spent several years at Nokia and Microsoft running product teams for app stores and messaging services. Mr Bramlage graduated magna cum laude with a degree in Business Administration from the University of Michigan’s Ross School of Business.

​

Quidd’s COO, Ross Blum, is responsible for partnerships and licensing arrangements. Mr Blum has a Doctorate of Jurisprudence (J.D.) from the Benjamin N. Cardozo School of Law and was admitted to the New York State Bar Association. He also has a Master of Science degree in Sports Management from Georgetown University, and a Bachelor of Science in Business Management from Babson College.

​

Since its founding, Quidd has built a community of 6.8 million unique users who collectively own more than 2.1 billion digital collectibles on the Quidd platform. This community of collectors is made up of mainstream fans, of whom 58% are between the ages of 13 and 24 years; 42% are female. The community is mostly located in the United States, with a small minority of users located in Canada and Australia. The app is currently available in English language only.

​

Quidd built its business by combining the largest and most diverse catalog of world-class brands with a marketplace application that makes it simple, easy, and fun to buy and sell scarce digital collectibles. Quidd’s marketplace facilitates an average of more than 6 transactions per second, with 43% of all aftermarket listings clearing at the seller’s requested price point within 24 hours.

​

In the fall of 2017, Quidd raised Series A funding led by Sequoia Capital, which became Quidd’s largest shareholder. Since launch, Quidd has generated over US$10 million in total transaction value (unaudited) via the sale of digital collectibles in its app.

Strategic rationale
The acquisition of Quidd confers a powerful set of intellectual property (IP) and media  relationships to Animoca Brands and provides opportunities for expansion of the Company’s virtual goods and digital collectibles strategy, adding over 325 of the best known IP in the world today including properties from Disney, Marvel, HBO, Cartoon Network, CBS, the NBA, and hundreds of others. To date, Quidd has generated over US$10 million in total transaction value by selling the branded digital collectibles that it creates. Post acquisition, such transactions will be recognised as revenue by Animoca Brands (“Revenue” being defined as all sales of digital merchandise through In-application purchases provided by platforms such as Apple iTunes or Google Play; and “Net revenue” defined as Revenues less the cost of Apple iTunes and Google Play, which is 30% of the revenue transacted through their respective platforms).

​

Acquiring Quidd will therefore significantly increase Animoca Brands’ economic potential in the digital collectibles sector via relationships with many of the world’s top content owners.

​

Quidd is currently available in English and not yet localised for other major markets. The Company will leverage its considerable global publishing expertise to localise Quidd for Asian markets followed by the rest of the world, significantly enlarging the potential audience reach.

​

The current management will continue to operate Quidd after the Acquisition, working with the Company to expand the Quidd business into international markets, leverage synergies with Animoca Brands, and develop new business opportunities.

Acquisition terms
The Company, via its wholly owned subsidiary Animoca Brands Limited, will acquire from Michael Bramlage, co-founder of Quidd, and various non-founder shareholders (together, the “Sellers”) 100% of the issued capital in Quidd, Inc., for an upfront consideration of US$5 million (approx. A$7.2 million) (the “Acquisition”), payable in fully paid ordinary shares in the Company.

​

The price of any new shares of Animoca Brands to be issued as consideration for the Acquisition will be based on the higher of A$0.16 or the 14-day volume weighted average price of AB1 shares as of the effective date of the definitive agreement, which is to be executed in the current quarter. Such shares would be subject to a 6-month lockup period. After the end of this period, these shares will be released from lockup at a rate of 1/12 per month (such that each Seller will have the right to sell 1/12 of such Seller’s pro-rata portion of these payment shares), provided also that the Sellers agree that they will not sell or offer to sell an amount of AB1 shares in excess of 10% of the average trading volume of AB1 shares for the previous ten trading days.

​

Quidd net profit milestones