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Animoca Drives into Crypto Racing Games With Latest Acquisition

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Gaming and enterprise capital agency Animoca Brands has accomplished its landmark acquisition of Eden Games, publishers of the Gear.Club, Test Drive sequence, and different widespread racing video games.

Eden Games is a France-based agency that was based in 1998. Engine Gaming and Media bought its 96% stake within the firm to Animoca for $15.3 million on April 7.

With the acquisition, Animoca plans to boost its REVV Motorsport (REVV) ecosystem by taking a “Metaverse first approach” to new and current gaming titles, as tweeted by Animoca chairman Yat Siu on April 12.

It additionally hopes to introduce new blockchain-based racing video games. Eden Games has partnerships throughout the automotive business with the likes of BMW, Bugatti, Porsche, and others which ought to assist Animoca construct out a extra strong suite of video games for racing sport aficionados.

The REVV Motorsport ecosystem consists of the eponymous racing video games on the Ethereum scaling answer Polygon, MotoGP: Ignition, Formula E: High Voltage, and Torque Drift. All the video games are blockchain-based and combine nonfungible tokens (NFTs).

By inserting its NFT merchandise into sports activities, Animoca will be capable of capitalize on Deloitte’s estimated $2 billion in sports activities NFT transactions in 2022.

Co-founder and chairman of Animoca Brands Yat Siu mentioned in an April 11 assertion that the acquisition would “add value to the REVV community and the racing metaverse” by the use of its many property within the racing world.

Animoca has been busy constructing out its personal racing sport ecosystem and is trying to fill the void created by its F1 Delta Time sport shutting down on March 15 after dropping its license with the Formula 1 racing model. There isn’t any phrase but on what new titles could also be below improvement because of the brand new acquisition.

Related: Blue Chip and Metaverse NFTs propel development of NFT Market, says Nansen report

F1 racing is a well-liked sport within the crypto business with at the least eight crypto corporations, together with trade Binance, Crypto.com, and the Ethereum scaling answer Fantom, at present sponsoring groups. From a enterprise perspective, its reputation makes good sense contemplating about one billion international followers are anticipated to view races all through the 2022 season.

Animoca Brands is among the most energetic traders within the NFT and Metaverse areas. Its different holdings embrace The Sandbox (SAND) and Axie Infinity (AXS).