Animoca Brands, a gaming and venture capital business, has finalised the acquisition of Eden Games, the publisher of Gear Club, Test Drive, and other popular racing games. On April 7, Engine Gaming and Media sold Animoca its 96% stake for $15.3 million.
According to Animoca chairman Yat Siu, the purchase would allow the company to expand its REVV Motorsport (REVV) ecosystem by bringing a “Metaverse first approach” to new and current game titles.
Animoca has been hard at work developing its own racing game environment, hoping to fill the hole left by its F1 Delta Time game, which was shut down on March 15 after losing its Formula 1 racing licence. There’s no indication of what additional games could be in the works as a result of the acquisition.
F1 racing is a popular sport in the crypto sector, with at least eight crypto businesses presently supporting teams, including Binance, Crypto.com, and Fantom, an Ethereum scaling solution. From a business standpoint, its popularity is understandable, given that over one billion worldwide spectators are scheduled to watch races during the 2022 season.
Animoca also intends to bring new blockchain-based racing games to the market. Eden Games has automotive sector ties with BMW, Bugatti, Porsche, and others, which should aid Animoca in developing a more complete suite of games for racing game fans.
Yat Siu, co-founder and chairman of Animoca Brands, stated in a statement on April 11 that the acquisition will “bring value to the REVV community and the racing metaverse” due to its numerous racing assets.
The REVV Motorsport ecosystem contains the namesake racing games, MotoGP: Ignition, Formula E: High Voltage, and Torque Drift, which are all built on the Ethereum scaling solution, Polygon. All of the games are built on the blockchain and include non-fungible tokens (NFTs).
