• Froyo Games is working closely with iCandy, its strategic game development partner, to publish metaverse experiences and games.

  • iCandy will acquire 51% of Storms, an SEA-based game development and publishing company.

  • Storms is jointly founded by three leading Asian telcos: Singtel, AIS and SK Telecom.

  • iCandy is the largest game development company in Australia and SEA with an established foothold in the gaming industry.

Feb. 8, 2022 — Froyo Games is pleased to announce that its strategic game development partner, iCandy Interactive Ltd., has entered into a share purchase agreement with Southeast Asia-based game development company Digital Games International Pte. Ltd., which trades under the brand name Storms. iCandy will acquire 51% of Storms’ outstanding shares. The partnership between iCandy and Storms presents new opportunities to the blockchain gaming platform and will accelerate the adoption of metaverse technology in regional markets.

Storms was jointly founded in March 2020 by Singtel, Advanced Info Service (AIS) and SK Telecom, the largest mobile network operators in Singapore, Thailand and South Korea. respectively. Singtel is also the parent company of Optus and owns significant stakes in Telkomsel and Bharti Airtel, leading telecommunications operators based out of Indonesia and India, respectively.

Telecommunications infrastructure is critical to the long-term success of emerging gaming technology, including GameFi, metaverse and nonfugible token (NFT) gaming. This partnership will facilitate greater collaboration between iCandy and telco companies with interests in the gaming industry to catalyze the global adoption of metaverse gaming — especially for key emerging economies in Asia, where the telcos have an extensive user base in the tens of millions.

iCandy is also poised to expand the reach of its portfolio by leveraging Storms’ network in the SEA region, which is the world’s fastest-growing market for gaming.

This strategic acquisition furthers a continuous expansion plan for iCandy’s SEA presence, following the acquisition of game, art and animation studio Lemon Sky Studios in November 2021. Lemon Sky’s portfolio includes major triple-A game titles such as Uncharted: The Lost Legacy, The Last of Us Part II, the Final Fantasy XIV franchise, Diablo III, StarCraft: Remastered and Marvel’s Spider-Man, among others. Through the Lemon Sky acquisition, iCandy gained the best-in-class talent and experience to develop triple-A-quality intellectual properties and games independently.

Froyo Games, a decentralized GameFi infrastructure platform, will gain a large and growing user base. It will also gain backing from prominent telco providers, enabling entry into new markets and strategic access to critical regional markets.

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Media and partnership: Froyo Games