Global Blockchain Completes $49.6 Million Acquisition of X2 Game
Nolan Bushnell has a long history of success as a technology visionary and entrepreneur, including his founding of Atari earning him the sobriquet the father of the video game industry. His C.V. is chock full of firsts in addition to Atari, namely founding Chuck E. Cheese Pizza Time Theater, the first dinner/gaming restaurant chain; Catalyst Technologies, the first technology incubator; Etak, the first digital navigation system; ByVideo, the first online ordering system; and uWink, the first touchscreen menu ordering and entertainment system.
Now, Bushnell is bringing his leadership and experience to investment company Global Blockchain Technologies (CSE: BLOC.U)(OTC: BLKCF), selling his X2 Games to Global Blockchain in an all-share transaction valued at $49.58 million that was announced as completed Tuesday morning. Per the deal, X2 Games was merged with a subsidiary of Global Blockchain, which was subsequently renamed X2 Games Corp.
With the merger, Global Blockchain acquired all of the intellectual property of X2 Games, including four digital interactive games for Amazon Alexa. The first of these games, ann interactive murder/mystery game for up to six players called St. Noire, has a pre-release date in the first quarter of 2019.
The acquisition also brings Hollywood creative director and 3D visionary Zai Ortiz to the Global Blockchain team. Ortiz is best known for his creation of the J.A.R.V.I.S. system holograms in Marvel’s Iron Man, as well as numerous successes with his design and visual communications studio DarkMatter, whose projects and clients include the likes of Bethesda’s massively popular game The Elder Scrolls – Legends, Hasbro, Warner Bros and Radical Studios.
The combination of Bushnell’s gaming prowess and Ortiz’s VFX creativity will be integral in BLOC’s pivot to focus on gaming-related projects in the exploding interactive games space as it spins-out its expansive cryptocurrency and blockchain assets into a new entity.
These interests include BLOC’s Dubai and Caymen Island subsidiaries; the Singularity Exchange (a decentralized crypto asset trading platform); Laser (a second-layer interoperability network for blockchains); BLOC’s investments in Hyperion Crypto Exchange and Quisitive Technology Solutions; development of any Middle Eastern Cryptocurrency Spot Exchange; Stratus (an open-source, peer-to-peer storage network); and all rights related to agreements between BLOC and Hewlett Packard Enterprise and its affiliates.
The diversified company is well positioned for a milestone quarter in Q1 2019, with the launch of the Singularity Exchange scheduled for January 8, 2019 and the pre-release of St. Noire in the January-to-March period now that X2 Games is officially part of the BLOC family.
Online Media Group, Inc. is not registered with any financial or securities regulatory authority and holds no investment licenses and does not provide, nor claims to provide, investment advice. We are a publisher of original and third party news and information. This article is sponsored content and is neither an offer nor recommendation to buy, sell or hold any security. The views expressed are our own and not intended to be the basis for any investment decision. Investing intrinsically involves substantial risk and readers are reminded to consult an investment professional and complete their own due diligence, including SEC filings, when researching any companies mentioned in this release. This release is based upon publicly available information and, while vetted, is not considered to be all-inclusive or guaranteed to be free from errors. With respect to Section 17(B) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader’s attention to the fact that Online Media Group, Inc. received $1,333 in compensation from IRTH Communications for content creation, advertising and distribution services related to this material.