Global Blockchain will be creating a subsidiary entity for its enterprise activities and merge its remaining media and entertainment investments and projects with those of X2 Games.
X2 Games is an independent games publisher for games that integrate blockchain technology and cryptocurrency into the user’s game experience. Their business model is building multiplayer gaming experiences, providing design and animation services and integrating technologies such as augmented/alternate/virtual reality into video games. X2 Games uses new technologies to create unique game experiences for conventional and experimental platforms. With the industry poised to hit $138 billion USD by year’s-end1. X2 Games is positioning itself to be a leader in the next-generation of gaming.
Nolan Bushnell, created X2 Games, which is focused on innovative gaming technologies. Atari, founded over 40 years ago, gave the world the first blockbuster video game. Nolan later spearheaded the Atari 2600 console which revolutionized the home gaming market. If Atari was not enough for one-lifetime achievement, Nolan also created Chuck E. Cheese, creating a pizza parlor and video game entertainment center-hybrid that quickly became popular with children and adults across the United States and the entire world. Nolan paved the way for the global gaming and entertainment industries that have changed billions of peoples’ lives and shaped generations of gamers globally. That was only the beginning of the legacy that he has created. Legendary in the industry he created, Nolan has also been recognized by colleagues and peers, including being named one of the “50 People Who Changed America” by Newsweek. He has also been inducted into both the “Video Game Hall of Fame” and the Consumer Electronics Association Hall of Fame. He is continually striving to ensure his life passions meet at the intersection of technology and entertainment to make people’s lives better through fun!
“Creativity is every company’s first driver. It’s where everything starts, where energy and forward motion originate. Without that first charge of creativity, nothing else can take place. This acquisition by BLOC will integrate X2 Games’ innovative game development studio and intellectual property within BLOC’s portfolio of Blockchain assets allowing new and revolutionary games to be developed together.” Chairman, CEO and Founder of X2 Games, Nolan Bushnell
The management of X2 Games also includes Zai Ortiz, President, Co-Founder, and Chief Creative Officer— an accomplished digital animator who created Iron Man’s J.A.R.V.I.S. system holograms seen in Marvel movies. Ortiz also supervised creative teams in producing visuals for films to include TRON: Legacy, Sherlock Holmes, and Mission: Impossible. Ortiz’s creative virtuosity and the keen eye for futuristic designs drive the company’s mission to give gamers around the world a true cinematic story experience unlike any they’ve ever had. His latest creative project — the AI-driven murder-mystery game St. Noire – bears out this promise, and lays the foundation for X2 Games’ future ambitions in immersive, interactive storytelling. Previously, Ortiz was a founder and CEO of Dark Matter – a specialized design and visual communications studio in Hollywood, CA, as well as served as the creative director for in-game cinematic Bethesda’s massively popular game The Elder Scrolls — Legends.
As X2 Games’ business model aligns well with BLOC’s existing efforts that relate to the tokenization of gaming platforms, the two companies have elected to join forces. Post-acquisition, BLOC will be focused on applications of blockchain technology to the video game, eSports and entertainment industries. It will continue to work on its existing projects, alongside the development of X2 Games’ existing projects. Nolan Bushnell will become the Co-Chairman and CEO of BLOC.
“Our conversations for collaboration with X2 have been in the making for close to a year now. As these relationships have strengthened, we have elected to capitalize on our synergies by way of an acquisition with X2. In addition to picking up X2’s projects, we have also brought on two true pioneers, with track records that are second to none, to run and continue growing the leading blockchain company in the media, entertainment, and gaming sectors. All assets belonging to BLOC’s exchange and enterprise divisions will be spun out into a separate company, to be run by BLOC’s current management and operational team. Now you have two best of breed teams, one developing pioneering blockchain based exchange, supply chain, and trade finance platforms and the other pioneering blockchain applications in the media, entertainment and gaming sectors, to the great benefit of all shareholders.” Global Blockchain President and CEO Shidan Gouran
“In less than a year, we have managed to develop three companies that are positioned to disrupt blockchain from the perspectives of mining, exchanges, and innovation. By segmenting our competencies and resources so that we can incorporate the strengths of partners such as X2 Games, we believe that this is conducive to realizing revenue earlier and being more profitable in the long term.” Global Blockchain Chairman, Steve Nerayoff
Global Blockchainassets to be spun out include:
BLOC shareholders as of the November 1st Record Date will be entitled to this spinout. The spinout will also receive $2,000,000 of BLOC’s cash holdings.
Under the terms of the transaction, for the acquisition of X2 Games, BLOC will issue 330,519,541 Common Shares issued at a deemed price of $0.15 per Share, resulting in an aggregate purchase price of $49,577,931.
Additionally, BLOC will also acquire from Global Blockchain Mining Corp its 25% interest in DISCO, in exchange for $1,500,000 of BLOC Shares issued at a deemed price of $0.15 per Share. DISCO’s incumbent agreements provide extreme synergy to the gaming platform that is being developed.