Global mobile game developer iCandy Interactive (ASX: ICI) has joined forces with Nitro Interactive and Animoca Brands to co-invest and co-develop an app based on the top-rated TV show MasterChef.
The global iOS and Android mobile application will be 50% funded by Animoca Brands which has a non-exclusive global brand and content licence agreement with Endemol Shine North America for the rights to use the MasterChef brand in a series of up to five mobile products.
iCandy Interactive and NITRO will each contribute 25% of the funding.
Animoca Brands will own all intellectual property rights and grants to NITRO an irrevocable, fully paid-up, royalty-free worldwide license to those rights.
The agreement paves the way for the first game to be funded through the recently launched NITRO Project, a video-game economy blockchain initiative, and will be among the first games to accept NITRO Tokens (NOX) for in-game purchases.
We are excited to create a product based on the well-loved and internationally renowned MasterChef brand,” iCandy Chairman Kin-Wai Lau said.
“MasterChef game ideas will soon be available on the NITRO platform, and NOX holders will be able to vote for and support their favourite ones.”
Torulf Jernström, an internationally acclaimed game industry executive and CEO of Finland-based game studio Tribeflame, has been appointed to be head designer for the first mobile app.
MasterChef is a series of world-renowned television programs based on competitive cooking. The franchise has an established audience of over 250 million viewers. It is produced in over 50 countries worldwide and broadcast in over 200 territories.
Shares in iCandy were trading unchanged at 16c on Monday.