One of Web3’s leading digital property rights developers, Animoca Brands, announced another major acquisition to its growing portfolio of gaming subsidiaries.
The company announced on September 16 the purchase of WePlay Media, which has developed the popular blockchain game MotoGP Championship Quest. According to the agreement, The acquisition is an effort to bolster user engagement in motorsports mobile games.
Graeme Warring, Co-Founder and COO of WePlay Media and co-creator of MotoGP, called the acquisition an exciting development for both parties as they expand their reach to motorcycle fans around the world.
“Animoca Brands has the ability to reach hundreds of millions of users across key growing demographics to broaden the sport’s fan base and create engagement opportunities for drivers, teams and sponsors.”
Similarly, Yat Siu, co-founder and CEO of Animoca Brands, highlighted the potential boost from the acquisition of MotoGP and other motorsport-related games under Animoca.
According to the latest MotoGP Global Fan Survey, its community has high levels of engagement and interest in regularly participating in competitive mobile games. 79% of respondents aged 16-24 play competitive games on a weekly basis, and 54% of fans are in the Asia-Pacific region.
Animoca has shown great investment in the development of the motorsports industry, as it has introduced a rewards ecosystem of REVV tokens based on motorsports and MotoGP in-game NFT programs.
Earlier in April this year, Animoca also acquired Eden Games, which developed Gear.Club, the Test Drive series, and other popular racing games.
In August, Animoca subsidiary Grease Monkey Games received funding to develop blockchain-based motorsports game Torque Drift 2.
This latest acquisition development comes on the heels of Animoca’s successful $110 million funding round led by Temasek on September 8, from which it said it planned to make further strategic acquisitions. Animoca has investments in the Web3 space in operations like The Sandbox, Axie Infinity, SkyMavis, and DapperLabs, among others.
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