MELBOURNE: iCandy Interactive Limited has entered into two separate Game Development and Publishing Agreements with two leading South Korean based game studios, Nanali Inc and MoviGame Co. Ltd.

Under the Agreement with Nanali, iCandy will be granted by Nanali an exclusive 3-year license to publish and market the global version of Hellopet House, a mobile game to be developed by Nanali based on the wildly popular virtual pet simulator, Hellopet.

In return for providing publishing and marketing services to Nanali with respect to Hellopet House, iCandy will be entitled to a share of the global net revenue generated from Hellopet House that are in-line with commercial practice of the game industry. Nanali shall retain all intellectual property rights over Hellopet House.

Hellopet House will be published by iCandy in 8 international languages and is expected to enter its early trial access in January 2020 and launch globally in 1Q2020. Hellopet House is an interactive pet collection game where players cook, garden, and craft with their adorable pet assistants.

With over 20 different pets to collect and raise, Hellopet House brings to gamers a personal interactive experience to the popular virtual pet simulator, Hellopet, which has garnered an impressive following of over 8 million gamers across various mobile platforms in South Korea and across the world.

Under the Agreement with MoviGame, iCandy will be granted by MoviGame an exclusive 2-year license to publish and market globally Penguin Dash, a mobile game to be developed by MoviGame. In return for providing publishing and marketing services to MoviGame with respect to Penguin Dash, iCandy will be entitled to a share of the global net revenue generated from Penguin Dash in line with the commercial practice of the game industry.

MoviGame shall retain all intellectual property rights over Penguin Dash. Penguin Dash is being developed currently and is expected to enter its early trial access in February 2020 and launch globally in 2Q2020.

Penguin Dash is a casual game where players will help a penguin to save newborn baby penguins to escape as the ice tiles below them begin falling away. Players will simply tap left or right along the path as they earn coins and gather power-ups that help them advance further into the icy wonderland. Players can unlock new Penguins to join them on the adventure and race their way to the end among friends.

The decision to enter into the Agreements is in line with iCandy’s strategy to monetise its network of over 350 million mobile gamers by marketing and publishing mobile game titles developed by third party game-developers in return for a revenue sharing arrangement, as outlined in the Company’s investor presentation dated 29 July 2019.

The management of iCandy is of the opinion that both Hellopet House and Penguin Dash are promising mobile games, and that the partnership with the Nanali and MoviGame is an opportunity for iCandy to generate additional revenue without having to bear significant additional development costs.