iCandy Interactive Limited (ASX:ICI)
Having become the first Southeast Asian listed smartphone game company when it listed on the ASX in 2016, today’s company has already experienced record revenue growth.
Boasting 836% year on year growth in 2016 alone, this is one of the fastest growing mobile games companies in Southeast Asia.
The global games market for 2017 totals US$108.9 billion, with 32% of that represented by smartphone game users — a segment on track for a significant 22% year on year growth.
This company is looking to tap into this market in a big way. An acquisition completed earlier this year, now sees this company owning three established studios across Southeast Asia, through which it develops, publishes and commercialises games.
This $49.8 million capped company has offices in Melbourne, Singapore, Malaysia and Indonesia as well as a strong gamer following in North America and Europe and is well on its way to completing its mission to consolidate and grow the best studios in Southeast Asia.
The company may have another trick up its sleeve as well as it looks to gain a foothold in new markets, following the recent formation of a partnership with a new global platform called ‘Nitro’.
Nitro empowers people to partake in the video games economy via its cryptocurrency ‘Nox’ and its online marketplace is destined to further today’s company’s growth ambitions.
This leading-edge ASX company will be paid 3 million NOX tokens annually, which are compatible with the ethereum blockchain, in exchange for publishing services.
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As it looks to establish a sizable user base in mature markets and generate sustainable income from those markets, the company will contibue to grow its pipeline of developed games as well as publish suitable games from third parties.
Meanwhile it will put its new partnership to good use in its bid to extend its quick growth and potentially raise its value.