Award-winning future culture company Mighty Jaxx recently announced the acquisition of two companies in Singapore, Kinetiquettes and PLAYe, in a multimillion-dollar deal.
Kinetiquettes, a statue collectible firm, will enable Mighty Jaxx to develop a new product category, with newly-acquired intellectual property rights. With the acquisition, Mighty Jaxx is now able to produce collectibles from some of the most popular titles within the gaming and anime communities, including Monster Hunter, Attack on Titan, and My Hero Academia.
“We are incredibly excited to join hands with Mighty Jaxx to exchange our know-hows in creating new lines of products across a greater portfolio of character intellectual property. Coupled with new access to the Mighty Jaxx platform, fans can look forward to unlocking an immersive digital experience like no other,” said Adeeb Md, co-founder of Kinetiquettes.
Meanwhile, the acquisition of PLAYe will enable Mighty Jaxx to tap into the company’s direct-to-consumer touchpoints and channels, increasing the visibility of Mighty Jaxx products to target audiences.
“PLAYe has been a source of joy for many avid game players and collectors since our humble beginnings in the heartlands. Together with Mighty Jaxx, we look forward to introducing the future of collectibles to our community,” said Chris Sng, founder of PLAYe.
The move has been touted as a move towards meeting the growing demand from fans and collectors, as the acquisitions allow Mighty Jaxx to continue developing better products. Both Kinetiquettes and PLAYe will continue operating independently, while collaborating under Mighty Jaxx’s management.
The physical collectible has always been our core business and while that will not go away — the intention is to take what we have and amplify it both digitally and phygitally.
The acquisition of Kinetiquettes and PLAYe moves us closer to our creative vision of working towards connecting all our fandoms onto the MightyVerse. We are looking to develop real life experiences, the MightyVerse, digital collectibles and work towards a true hybrid phygital offering via our platform that will reimagine the full-experiential journey for all fans and create value for them.
– Jackson Aw, founder and CEO of Mighty Jaxx
These acquisitions follow several successful funding rounds in the past few years, including a Series A+ funding round this March at a valuation of more than US$200 million.
To date, Mighty Jaxx has raised over US$40 million, with investors including East Ventures, a venture capital firm from Indonesia known for investing in tech startups, Chinese giant Tencent, which led an investment round in August last year, and SGInnovate, an investment firm owned by the Singapore government.
The company primarily produces collectible toys, and has also been making efforts to move into the NFT space with phygital collectibles. It has worked with global names such as F1, Warner Brothers, Hasbro, and Toei Animation.
Featured Image Credit: Mighty Jaxx