Join Our Mailing List
Thursday September 28, 2023
Bitcoin (BTC) $26,464.09   Ethereum (ETH) $1,617.95
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home M&A

Animoca Brands to acquire blockchain-powered fitness app Lympo (LYM)

Animoca Brands Limited has acquired 100% of the issued and outstanding share capital of Latgala OÜ (Lympo) for an upfront consideration of USD $1.38 million...

Published by CryptoNinjas.net
12/17/2020
Animoca Brands to acquire blockchain-powered fitness app Lympo (LYM)

Animoca Brands, a company specializing in blockchain, gamification, and artificial intelligence technologies, today announced it has entered into a share purchase agreement to acquire 100% of Latgala OÜ, commonly known as Lympo, a blockchain platform with the aim to reward people for exercising, for an upfront consideration of USD $1.38 million.

Lympo is a company that operates a blockchain platform to motivate people to lead healthier lives by rewarding users with Lympo tokens (LYM) when they exercise using the Lympo mobile app. LYM can be bought or sold on various cryptocurrency exchanges or used directly to purchase sporting goods on the Lympo Shop. Lympo has approximately 300,000 users, located primarily in the U.S. and South Korea, and a social media base of over 75,000 followers.

Lympo is one of the first blockchain apps in the world to partner with the Samsung Blockchain Wallet, which provides seamless transfer and storage of LYM tokens. In 2019, Lympo was featured in the Silicon Valley Samsung Developers Conference as one of the first blockchain projects collaborating with the Samsung Blockchain Wallet. Lympo also hosted a Healthy Habit Month in cooperation with Samsung Health in the U.S. in November 2019 to inspire thousands of users to build healthy habits.

Through the Acquisition, Animoca Brands will obtain all LYM held by Lympo. At the time of writing, LYM has a price of USD $0.002902 (obtained from CoinMarketCap) and has a market capitalization of approximately USD $2.4 million. There are over 75,000 holders of LYM tokens at present. LYM is currently paired with Bitcoin (BTC) and ether (ETH) on Huobi Global; with BTC, ETH, and Tether (USDT) on KuCoin; and with BTC, ETH, and USDT on Gate.io. LYM can also be traded on GOPAX using South Korean won, as well as on Bitfinex using US dollars.

Upon acquiring Lympo, Animoca Brands will work to support LYM within its existing token ecosystems including the REVV Token, the utility token for blockchain motorsports that powers F1 Delta Time and the upcoming games based on MotoGP and Formula E. Animoca Brands will also leverage Lympo’s existing partnerships, customers, and token holders to grow engagement for sports-related NFT collectibles. Among various other post-acquisition initiatives, Animoca Brands and Lympo will work on the production of a gamified “hero” collectible system that will tokenize accomplished athletes; the collectibles will be obtainable and upgradeable using LYM.

Acquisition Terms

Animoca Brands Limited, has acquired 100% of the issued and outstanding share capital of Latgala OÜ (Lympo) for an upfront consideration of USD $1.38 million, payable in shares of Animoca Brands based on a price per share of the higher of A$0.25 or the market price of the shares as of the closing date of the acquisition.

If Lympo achieves certain revenue milestones during the one-year period following the closing date of the Acquisition, Animoca Brands will pay the Lympo shareholders up to USD $1.5 million earnout payments​, payable in cash or shares of Animoca Brands, at the company’s sole discretion. If Animoca Brands elects to make the earnout payments by shares, the shares of the company will be based on a price per share of the higher of A$0.25 or the 14-day volume-weighted average price of shares of Animoca Brands as of the date when the calculation period for the revenue milestones ends.

45
SHARES
SubscribeE-MailXFacebookWhatsappTelegramRedditLinkedin

Related News

Animoca and Hex Trust form JV to offer GameFi crypto wallet service

11/25/2021
Animoca and Hex Trust form JV to offer GameFi crypto wallet service

Hex Trust, an Asia-based crypto-asset custodian, and Animoca Brands, a provider of blockchain gamification platforms, announced today they have formed a joint venture to provide institutional cryptocurrency wallets and financial services for online gamers....

Read more

Crypto custodian Hex Trust closes $10M funding round led by Animoca Brands

10/05/2021
Crypto custodian Hex Trust closes $10M funding round led by Animoca Brands

Hex Trust, an Asia-based licensed and insured provider of custody for crypto-assets, announced it has raised USD $10 million in an investment round led by Animoca Brands, a company specializing in digital entertainment, blockchain,...

Read more

Animoca Brands and Brinc open new NFT accelerator: Launchpad Luna

07/20/2021
Animoca Brands and Brinc open new NFT accelerator: Launchpad Luna

Animoca Brands, a provider of digital entertainment, blockchain, and gamification technologies, along with venture accelerator Brinc, today announced the launch of Launchpad Luna, a new accelerator program to identify, mentor, and invest in promising...

Read more

Animoca Brands invests in decentralized cloud computing network Cudos

06/04/2021
Animoca Brands invests in decentralized cloud computing network Cudos

Animoca Brands, a company specializing in digital entertainment, blockchain, and gamification, announced that it has invested in and partnered with Cudos, a decentralized cloud computing network. In particular, the partnership will enhance Animoca Brands’ ecosystem...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Blockstream Mining Bitcoin

Blockstream launches bitcoin mining colocation and pool services

08/08/2019
Blockstream releases new platform for Liquid-sidechain security token issuance

Blockstream releases new platform for Liquid-sidechain security token issuance

05/15/2019
Zilliqa blockchain combines incubation programs as it announces new grant winners

Zilliqa blockchain combines incubation programs; announces new grant winners

12/03/2019
Global Brain invests in Omise, creator of crypto ecosystem OmiseGO

Global Brain invests in Omise, creator of crypto ecosystem OmiseGO

10/22/2018
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy