Animoca enters the crypto-racing game market

Animoca Brands, a gaming and venture finance firm, has finalized its major acquisition of Eden Games. Creators of the Gear.Club and Test Drive series, as well as other notable racing games. Eden Games is a French company that was created in 1998. On April 7, Engine Gaming and Media sold a 96 percent ownership in the company to Animoca for $15.3 million.

Animoca intends to improve its REVV Motorsport (REVV) ecosystem with the acquisition by implementing a “Metaverse first approach” to fresh and innovative game titles. As Animoca chairman Yat Siu tweeted on April 12. It also intends to launch new blockchain-based racing games. Eden Games has global automotive ties with giants like BMW, Bugatti, Porsche, and others. Which could help Animoca develop a more robust array of games for racing game enthusiasts.

The REVV Motorsport ecosystem contains the namesake racing games, MotoGP: Ignition, Formula E: High Voltage, and Torque Drift on the Ethereum scaling solution Polygon. The games are all blockchain-based and use nonfungible coins (NFTs). Animoca will be able to benefit from Deloitte’s predicted $2 billion in sports NFT transactions in 2022 by incorporating its NFT solutions into sports. Yat Siu, co-founder and chairman of Animoca Brands, stated in an April 11 announcement that the acquisition would “bring value to the REVV community and the racing metaverse” due to its many racing assets.

What has Animoca been up to?

Animoca has been hard at work developing its own racing game environment. Hoping to fill the hole left by the closure of its F1 Delta Time game on March 15. After losing its licence with the Formula 1 racing brand. There has been no indication of what new games may be in the works as a result of the new acquisition.
F1 racing is a huge sport in the crypto sector, with at least eight crypto companies presently supporting teams. Including exchange Binance, Crypto.com, and Ethereum scaling solution Fantom. From a financial standpoint, its popularity makes absolute sense. Given that almost one billion worldwide fans are to watch races during the 2022 season. Animoca Brands is a prominent investor in the NFT and Metaverse sectors. Other investments include The Sandbox (SAND) and Axie Infinity (AXS).

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