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After 6–8 months of planning, the executive team and I at Tilt have decided to focus fully on collectibles and sell/wind-down/spin-off all non-core products in the business (casino, sportsbook, and a couple smaller divisions). The world does not need another crypto casino, but it's going to want the innovation we plan to bring to the collectibles space.
We made this decision with the support of our board, our team, our investors and our community. We made sure all day 1 employees from years ago and day 1 investors that had equity in Monkey Tilt retain that same equity in our collectibles endeavors. The enterprise value of this has already exceeded everything we've built with Monkey Tilt. But more importantly, the team is happier than it's ever been. We all feel like kids again, building stuff that speaks to our souls and connects us with our children, our families and our communities in a deeper way.
I will share a much longer post later about mine and the team's journey building everything that led to this, the speed bumps along the way, the multiple and inevitable pivots in any founder journey, and how grateful everyone is to have been a part of this ongoing story.
My team is going to bring everything that makes us great product builders, gamers, developers and risk takers and fully invest that energy into bringing fresh and exciting product into the collectibles space. We cannot afford to have a minute of our bandwidth taken away from what we are doing. It is also the case that to fully explore the opportunities available to us in collectibles, we needed to divest of any non-core products that could interfere with liquidity options and upside for our investors and employees.
Stay tuned. We are just getting started.
Señor
