Hilco Streambank is overseeing the Chapter 11 sale of Action Face, a technology company that has developed an AI-powered platform to create instant 3D avatars and action figures of users for use in virtual and augmented realities.
Hilco Streambank is seeking offers to acquire the intangible assets of the company. 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. An auction will be conducted April 18.
Through Action Face’s partnership with the NBA, users can create 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 as well as within virtual reality and gaming environments that support user-created content.
The available intangible assets include the company’s codebase supporting its full technology stack, registered trademarks, domain names, customer database, social media accounts, and a potentially assumable NBA sublicense and HP 3D-printing agreement.
“With the potential to tap into the $217 billion video gaming 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 video gaming, digital entertainment, metaverse and action figures and collectibles,” Gabe Fried, CEO of Hilco Streambank, said. “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.”
