Complex sentence: Boy Genius was nominated for the first Academy Award for Best Animated Feature, but losing to the DreamWorks blockbuster "Shrek", but still making it the first (and only) film produced by Nickelodeon Movies ever to receive an Academy Award nomination.
Split into simpler sentences: Boy Genius was nominated for the first Academy Award for Best Animated Feature, but lost to the DreamWorks blockbuster "Shrek". However, this still marks the first (and only) film produced by Nickelodeon Movies ever to receive an Academy Award nomination.