The company has always considered mergers and acquisitions to keep up with the trend and even gain an edge to stay relevant and ahead.
Recently, Animoca Brands completed its remarkable acquisition of popular racing game publishers Eden Games. The gaming and venture capital firm acquired the publisher of leading games such as Gear.Club, the Test Drive series and other racing games. Eden Games was founded in 1998 in France and later became a subsidiary of Engine Gaming and Media.
Eden Games’ parent company, Engine Gaming and Media, sold approximately 96% of its stake in the company for $15.3 on April 7 to Animoca Brands.
On April 12, Animoca Brands President Yat Siu, while talking about the acquisition, said the company plans to further enhance its REVV Motorsport (REVV) ecosystem. It intends to do this by taking a “metaverse first approach” to new and existing game titles.
Apart from this, the company also plans to introduce new blockchain-based racing games. The advantage of Eden Games lies in its partnerships with various automotive industries such as BMW, Porsche, Bugatti and others which could also help Anioca create a more robust game suite for racing game experts and professionals.
The aforementioned REVV Motorsport ecosystem offers racing games on Polygon, an Ethereum-based scaling solution, MotoGP: Ignition, Formula E: High Voltage, and Torque Drift. These games are blockchain-based and have non-fungible or NFT tokens embedded on platforms.
Also Read: Ledger Announces Collaboration with Animoca Brands Subsidiary, The Sandbox: Here Are the Details
Deloitte estimated that Animoca would generate approximately $2 billion by inserting its NFT products into sports and NFT transactions this year. President and co-founder of Animoca Brands, Yat Siu, said on April 11 that the acquisition of Eden Games would add value to the REVV community and the racing metaverse as a whole thanks to its many strengths in the racing world.
On March 15, the popular F1 time game Delta went out of business when the company lost its Formula 1 racing brand license. The release of Delta Time made the space vacant and Animoca built its gaming ecosystem race to fill the void. However, no information was disclosed regarding the titles of the projects in development after the new acquisition.
The crypto industry loves F1 racing, which can be seen as eight crypto companies currently sponsoring racing teams, including leading crypto exchange Binance, Crypto.com and scaling solution based on Ethereum Fantom, etc. Animoca Brands is one of those active investors in NFT. and the Metaverse sector, and its holdings include Axie Infinity (AXS) and Sandbox (SAND).