Animoca Brands Begins Acquisition Process of WePlay Media

Hong Kong-based game software company and venture capital firm Animoca Brands announced that it started an acquisition process for WePlay Media Holdings LLC.

Presently, Animoca Brands is in a Membership Interest Purchase Agreement with the online game developer. The news was announced at the MotoGP™ Gran Premio Animoca Brands de Aragón, a racing event of which Animoca Brands is the title sponsor.

The completion of the acquisition is still tentative as it is highly dependent on the satisfaction of certain customary conditions.

Once the acquisition is finalized, Animoca gets to “expand on its existing relationship with Dorna Sports as a sponsor, NFT licensor, collectible cards provider, and blockchain game developer and publisher.”

Considering its possession of MotoGP™ Championship Quest, the official MotoGP™ mobile racing game, Animoca Brands also stands the chance to offer MotoGP™ Ignition players and other interested gamers an integrated experience.

Animoca Brands Acquisition Aimed at Boosting MotoGP

Additionally, Co-founder and Chief Operating Officer Graeme Warring will carry on with his work at WePlay Media as well as MotoGP™ and then, join the Animoca Brands team REVV Motorsport.

This REVV Motorsport team is the group in charge of the blockchain game MotoGP™ Ignition which was jointly created by Animoca Brand and MotoGP™. Co-founder and executive chairman at Animoca Yat Siu shared a comment,

“The acquisition of WePlay Media will boost our engagement with fans of the amazing sport of MotoGP, unlocking powerful exposure in both the metaverse and traditional gaming. We are gaining a unique platform to implement our Web3 strategy as we incorporate our motorsport-based REVV Token and NFT programs with the official MotoGP mobile game and deepen our strategic relationship with MotoGP.”

WePlay Media Holdings LLC is the developer behind the well-known MotoGP™ Championship Quest and the only shareholder of XXL Racing LLC, an official licensee of MotoGP™, and WePlay Media LLC. Along with all its subsidiaries, WePlay Media Holdings is regarded as WePlay Media. It was established eight years ago by rugged tourist Graeme Warring, and Mark DeSimone, a racing video game veteran. 

While Animoca Brand is seeking mergers and acquisitions, it has also been raising funds with various entities.

Recently, the blockchain gaming platform raised $110 million from a collection of convertible notes with both new and returning investors.  Before then, Animoca secured $100 million in a round with Singapore state-owned Temasek.