Bid Deadline: April 16, 2024
NEW YORK, April 5, 2024 /PRNewswire/ — Hilco Streambank (www.HilcoStreambank.com), a leading intellectual property advisory firm specializing in intangible asset valuation, advisory, and monetization services, announced that it is seeking offers to acquire the intangible assets of Action Face, Inc. Action Face is a pioneering technology company that has developed an AI-powered platform to create instant 3D selfie avatars and action figures of users for use in virtual and augmented realities. This is a turnkey opportunity with existing and assumable agreements with HP for 3D printing action figures and with the NBA for franchise sublicensing.
The deadline to submit a bid to acquire the assets is April 16, 2024. An auction will be conducted April 18, 2024.
Founded in 2018, Action Face has developed first-of-its-kind technology that allows users to create photorealistic, personalized 3D selfie avatars and action figures of themselves quickly and easily by using the camera on their smartphone.
Through a partnership with the NBA, users can create their lifelike avatars donning their favorite team’s jerseys. Through a partnership with HP’s HyperX division, users can also purchase custom, 3D-printed action figures of themselves, delivered directly to their door. Created for cross-platform compatibility, the 3D avatars can be used digitally in augmented and virtual reality environments, including on social media platforms such as Instagram, as well as within virtual reality and gaming environments that support user-created content such as avatars.
The available intangible assets include the company’s codebase supporting its full tech stack, registered trademarks, domain names, customer database, social media accounts, and a potentially assumable NBA sublicense and HP 3D-printing agreement.
Hilco Streambank Chief Executive Officer Gabe Fried commented, “With the potential to tap into the $217 billion videogaming market and the projected $71 billion AR/VR market, acquiring Action Face’s technology assets should be a compelling option for strategic operators across multiple sectors, including videogaming, digital entertainment, metaverse, and action figures and collectibles.” Fried continued, “The potential to assume a valuable NBA sublicense as well as the 3D-printing agreement with HP also offers additional strategic advantage to a buyer looking to engage and expand its distribution and branded partnership capabilities.”
Interested parties can click here to learn more or directly contact the professionals at Hilco Streambank listed below at [email protected].
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Gabe Fried CEO |
Jordon Parker VP |
Stella Silverstein Analyst |
Action Face, Inc. is a debtor in possession in a voluntary chapter 11 case pending before the United Stated Bankruptcy Court for the Central District of California, San Fernando Division, Case No. 24-10180-MB. Any potential designation of a stalking horse bidder or transaction related to this opportunity are subject to Bankruptcy Court approval.
About Hilco Streambank: Hilco Streambank is a preeminent intangible asset advisory firm specializing in all forms of intangible assets, including brands, data, software, patent portfolios and supporting technology. In connection with these assets, Hilco Streambank provides unmatched expertise in sell-side, buy-side, advisory and valuation services. Its sister companies, IPv4.Global and Hilco Digital Assets, offer both advisory services and online markets for digital assets. Hilco Streambank is part of Northbrook, Illinois based Hilco Global, the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate, and strategic capital equity investments.
SOURCE Hilco Streambank