Animoca Brands announced its agreement to acquire Quidd on August 7, 2019, for US$5 million upfront plus up to US$3 million in profit-based earn-outs. The maximum was not an all-cash price: the upfront consideration was to be paid in Animoca shares, and the earn-out depended on Quidd meeting future profit milestones. Animoca also announced a separate A$8 million capital raise that day; it was financing for Animoca, not money paid to Quidd’s sellers.
What Animoca Brands acquired
Quidd, Inc. operated an app-based marketplace for limited-edition digital collectibles, including stickers, cards and 3D toys. Animoca said its subsidiary would acquire 100% of Quidd’s issued capital. The business combined licensed entertainment and sports properties with a collector audience and marketplaces for primary sales and resale. It was a digital-collectibles platform before it became associated with blockchain products; the announcement did not say that every Quidd item was an NFT.
Animoca described Quidd as the “world’s leading digital collectibles marketplace,” a company characterization rather than an independently established ranking. Its August 2019 announcement said Quidd had relationships with more than 325 brands, including Disney, Marvel, HBO, CBS, Cartoon Network and the NBA. Animoca’s acquisition announcement is the source for the deal description and figures below.
What the “up to US$8 million” price included
| Component | Announced terms |
|---|---|
| Upfront consideration | US$5 million, payable in fully paid Animoca Brands ordinary shares. The share price was to be the higher of A$0.16 or the applicable 14-day volume-weighted average price at the effective date. |
| Earn-outs | Up to US$3 million, contingent on Quidd meeting annual net-profit milestones over three years. |
| Maximum announced acquisition consideration | US$8 million; the maximum depended on the earn-out conditions and does not establish that the full amount was paid. |
| Separate Animoca financing | A$8 million raised at A$0.20 per share. This was a separate strategic capital raise, not the Quidd purchase price. |
The earn-out thresholds were US$1.25 million in net profit in year one, US$1.5 million in year two and US$2 million in year three. Each period also required Quidd to be at least break-even. The announcement described a six-month lock-up on the consideration shares, followed by staged monthly releases at one-twelfth, subject to selling-volume restrictions. These were share-based terms, so the sellers’ consideration was exposed to the value and liquidity of Animoca shares rather than being a fixed cash payment.
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Quidd’s reported scale in 2019
Animoca’s August 2019 release reported these company figures for Quidd:
- 6.8 million unique users and average monthly active users of 208,000 during the first half of 2019.
- More than 2.1 billion individually serialized digital collectibles issued.
- More than US$10 million in total transaction value, described as unaudited.
- Marketplace activity averaging more than six transactions per second; the company also said 43% of aftermarket listings sold at the seller’s requested price within 24 hours.
These are dated company-reported measures, not independently audited current operating statistics. “Serialized” describes numbered digital items; it does not mean those items were all blockchain tokens. Later partnership announcements referred to more than eight million users or collectors, but those later promotional figures are not directly comparable to the 2019 unique-user figure. See the 2022 MGA announcement and 2022 Manchester City announcement.
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Why Animoca wanted the platform
The strategic logic was to acquire an existing collecting business and add blockchain options, rather than build a consumer audience from scratch. Quidd brought recognizable licensed properties, a marketplace, and users already accustomed to collecting scarce digital goods. Its mobile-first, app-based experience could also serve people who did not use cryptocurrency or manage a wallet.
- Licensing: Familiar entertainment and sports brands could make digital collecting accessible to fans beyond crypto-native communities. Licensed catalogs also depend on contracts, which can vary by property, territory and term.
- Existing behavior: Quidd had evidence of demand for serialized digital items and aftermarket trading before the NFT market expanded in 2021. That demonstrates interest in digital collecting, not mass adoption of blockchain ownership.
- Expansion: Animoca said it intended to localize and grow Quidd in Asia and Europe.
- Blockchain optionality: Animoca could seek to add minting, on-chain ownership and interoperability to an established collecting experience. Those benefits are not automatic: blockchain products may require wallets, incur network fees, and depend on chain and marketplace compatibility.
Digital collectibles are not automatically NFTs
Before the acquisition, Quidd’s central product was digital goods in an app marketplace. An in-app collectible may be scarce or serial-numbered without being recorded on a blockchain. An NFT, by contrast, is represented by a token on a blockchain. Owning an in-app item therefore does not, by itself, establish that a holder can transfer it outside the service or verify it on-chain.
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Quidd later promoted “Mintables,” allowing customers to buy collectibles by credit card and choose whether to mint them on-chain, according to the MGA partnership announcement. Animoca later described Quidd as supporting both off-chain and on-chain collecting across multiple blockchains in its Animoca Brands Japan partnership announcement. Those developments show an expansion of the product, not that the original 2019 catalog was wholly on-chain.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Completion and what happened afterward
Animoca announced that the acquisition was completed on December 3, 2020, on the previously disclosed terms. Its completion announcement confirms the date. A later Animoca filing recorded accounting consideration of $6,056,839 for the completed acquisition. That accounting figure is distinct from the US$8 million contractual maximum; it does not show that every earn-out milestone was met or that the maximum was paid. The filing also records the historical QUIDD ERC-20 utility-token launch and related 2021 fundraising and listing details, but does not establish the token’s current liquidity or utility. Animoca’s filing provides those accounting and historical token details.
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Quidd subsequently pursued licensed digital-collectibles and NFT partnerships, including L.O.L. Surprise! with MGA Entertainment, interactive 3D cards with Manchester City, and The Dark Crystal NFTs with The Jim Henson Company. It also developed a Japan-focused partnership with Animoca Brands Japan and announced a Newcastle United partnership in 2024. The announcements document continuing product and licensing activity, but do not by themselves establish present-day user numbers, revenue or marketplace liquidity.
What can be said about Quidd now
Official materials and an App Store listing identify Quidd as a digital-collectibles service associated with Animoca, but the available evidence does not establish its 2026 active-user count, transaction volume, current token liquidity, or whether every historical marketplace feature remains available. The App Store listing describes buying and selling digital collectibles and shows in-app purchases; a listing is not independent confirmation of current functionality, geographic availability, resale demand or blockchain portability. A digital collectible purchase should not be treated as equivalent to buying a freely transferable NFT unless the item’s terms and on-chain status support that conclusion.
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