Animoca Brands Forays into Crypto Racing Games with the Latest Eden Games Acquisition
Animoca Brands, a gaming and venture capital firm, has finalized its historic acquisition of Eden Games, the publishers of the Gear Club, Need for Speed, Test Drive, and other popular racing games.
Eden Games is a company based in France that was established in 1998. Last Thursday, Engine Gaming and Media sold Animoca its 96 percent ownership in the company for $15.3 million.
According to Animoca chairman Yat Siu, the acquisition will allow the company to expand its REVV Motorsport (REVV) ecosystem by bringing a "Metaverse first approach" to new and existing game titles.
It 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 robust suite of games for racing game fans.
The REVV Motorsport ecosystem features the eponymous 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 nonfungible coins (NFTs).
Animoca will be able to profit from Deloitte's predicted $2 billion in sports NFT transactions in 2022 by incorporating its NFT products into sports.
Yat Siu, co-founder, and chairman of Animoca Brands, said in a statement released Monday that the acquisition will "add value to the REVV community and the racing metaverse" because of the company's numerous racing assets.
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