By Alicia Maher
The famous gaming and venture capital enterprise, Animoca Brands, has announced its latest takeover of Eden Games, makers of popular racing games like the Gear.Club and Test Drive Series.
Founded in 1998, Eden Games is a gaming company based in France. The firm is a well-known brand in the video game community. Animoca Brands also owned a 96% stake in another gaming firm, Engine Gaming, and Media, which it purchased for $15.3 million on April 7.
Animoca plans to scale its Revv Motorsports platform following the latest acquisition by adopting a Metaverse approach to designing the gameplay and other features.
The brand has high hopes of producing more blockchain-based racing games in the future. Meanwhile, Eden Games already has a partnership deal with some leading automobile companies like Bugatti, Porsche, BMW, and others. Animoca Brands can build breathtaking racing game projects for the gaming audience by leveraging the existing partnership.
A Glance into The Revv Motorsports Ecosystem
Part of the Revv Motorsport racing games includes the ones on the Ethereum scaling solution platform, like Formula E: High Voltage, Torque Drift, and MotoGP: Ignition. It is worth noting that all games are blockchain-hosted games with non-fungible tokens (NFTs) integration.
By adding its NFT collections to the blockchain-based games, the company would be able to get its hands on a slice of the huge financial gains that Deloitte estimates to have recorded up to $2 billion in sports NFT transactions this year.
According to the chairman of Animoca Brands, Yat Siu, on April 11, the acquisition of Eden Games was a major event in the evolution of the brand. And Revv Motorsport no doubt comes with value addition to the racing game space due to its critical assets in the gaming industry.
Furthermore, Animoca has been occupied with developing its racing game platform and attempting to fill the void left by the popular F1 Delta Time racing game, which was discontinued following the fallout with the Formula 1 racing company.
However, no word has been revealed about the possible new name for the project under development following the acquisition.
The popularity of the Formula 1 Racing Game
The F1 has been a hit in the blockchain gaming ecosystem as top brands like Binance, Crypto.com, and others are currently sponsors of some of the teams in the real-world racing competition.
It is not surprising that the popularity of the racing game has moved to the digital asset industry, where blockchain technology companies are building a replica of the sporting activities going on in the F1 space. This makes good business sense, considering the huge following the game has garnered worldwide.
Leveraging the wide acceptance of Formula 1 racing is another way to integrate the gaming franchise into the virtual gaming ecosystem to make gains out of it.
Animoca Brands is one of the leading investors in the Metaverse and NFT spaces, with as many investment portfolios as possible in The Sandbox and Axie Infinity.