Animoca Brands acquires Eden Games, driving into Crypto Racing Games

Venture capital giant and the company behind The sandbox metaverse, Animoca Brands has recently announced the completion of its landmark acquisition of France-based firm Eden Games, publishers of the Gear.Club, Test Drive series, and many other racing games.

Eden Games, which was founded in 1998 by the multi-platform media company focused on electronic sports, Engine Gaming and media, sold its 96% stake in the company to Animoca for $15.3 million.

As tweeted by co-founder and executive chairman Yat Siu on April 12., the venture capital aims to use the acquisition for enhancing its REVV Motorsport ecosystem through a “Metaverse first approach” to fresh and existing gaming titles.

4/ a Metaverse first approach is to bring proven talent and expertise to create user IP-owned digital assets which embed certain rights including commercial ones such as @TheSandboxGame @BoredApeYC @REVV_Racing @GBotsbyGAMEE that allow for true co-ownership & creation

— Yat Siu (@ysiu) April 11, 2022

Animoca Brands also plans to launch blockchain-based racing games

Animoca Brands, which surged its treasury by five times in two months in 2021, also hopes to launch a series of new blockchain-powered racing games via acquisition. As Eden Games has connections within the automotive industry linked with BMW, Porsche, Bugatti, Lotus, Pagani, and others, it could help Animoca build out a more robust collection of games for racing game enthusiasts.

The co-founder and head of studio of Eden Games, David Nadal commented on the acquisition by stating:

“We are excited to start the next chapter of Eden Games by joining Animoca Brands. We look forward to producing new experiences that challenge the status quo within the motorsport genre and venture into new frontiers such as Web3 alongside a leader in the space.”

The REVV Motorsport ecosystem contains the eponymous racing games, MotoGP: Ignition, Formula E: High Voltage, and Torque Drift, which are all built on Polygon chain with NFT integration. 

The Hong Kong-based company will be able to profit from Deloitte’s predicted $2 billion in sports NFT transactions in 2022 by incorporating its NFT products into sports. Notably, Animoca Brands recently raised $358.8 million at a $5 billion valuation.