- First committed white-label customer for the Codexa platform
- Customer requested IFG iGaming develop a prediction markets module
- IFG iGaming to earn a fee on total gross gaming revenue
- IFG to own all intellectual property in the prediction markets module
InFocus Group’s (ASX: IFG) wholly -owned subsidiary InFocus Gaming Technologies has signed a binding conditional agreement with its first customer for Codexa ROW.
Codexa ROW (Rest of World) is IFG iGaming’s proprietary platform that allows operators to run real-money online casino businesses, accepting both fiat currency and cryptocurrency in any jurisdiction in which they are legally able to do so.
Codexa ROW is a complementary product to the company’s Codexa USA platform, which offers sweepstakes gameplay for the US market.
The customer intends to launch a licenced real-money online gaming business built on Codexa ROW and has requested the company develop a Prediction Markets Module for Codexa ROW.
IFG iGaming will own all intellectual property in the Module and, after an exclusivity period granted to the customer, will be able to offer the Module to other operators.
“This is the point where Codexa moves from product to contracted revenue. We have signed our first customer, with a guaranteed minimum of US$2.4 million over the first two years and up to 5% share of every dollar of gaming revenue on the platform,” CEO, Ken Tovich, said.
“Just as importantly, the customer has asked us to build something we believe the market has not yet seen: real-money casino gaming and prediction markets on a single, compliance-first platform.
“Prediction markets are one of the fastest-growing segments in online entertainment, and operators want a way into them without building the technology themselves. Codexa will give them that.
“Every line of code we write for this customer is ours. After the exclusivity period, the Prediction Markets Module becomes part of the Codexa offering for every operator we speak with, and we will be taking it to market, starting at ICE Barcelona in January.
“The plan was always to commercialise Codexa with customer-led contracted revenue. In this case, we are also building IP that grows in value with every deployment.”
IFG iGaming has agreed to license Codexa ROW to the customer, in its real-money configuration and including the Prediction Markets Module, under the company’s white-label licensing and managed services model.
IFG was up 12.5% to 0.9¢. Mkt cap $4.153M.
Join the discussion: See what HotCopper users are saying about Infocus Group and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.