After announcing a number of multi-million dollar funding rounds recently, Animoca Brands announced its acquisition of WePlay Media.
A leading developer of digital property rights for Web3, the company announced yet another acquisition as part of its growing portfolio of gaming subsidiaries, expanding its portfolio to a total of eleven.
Bolstering Blockchain Mobile Gaming
WePlay Media, a blockchain-game firm that developed the popular game MotoGP Championship Quest, was acquired by Animoca Brands, and the purchase was announced on September 16. Based on the terms of the deal, the acquisition is being made in an effort to boost user engagement in mobile gaming for motorsports.
Animoca Brands and WePlay Media will be able to integrate the Revv ecosystem of racing games with their respective products through the acquisition, which is subject to certain conditions. Through the acquisition, play-and-earn opportunities will be delivered to fans, existing partnerships will be strengthened, and new partnerships will be formed in order to further engage fans.
There are nearly 1.2 million monthly active users in the world playing MotoGP Championship Quest. Since its release in 2017, the game has gained over 50 million downloads on mobile platforms.
With the acquisition deal completed, WePlay Media’s chief operating officer, Graeme Warring, will lead WePlay Media, oversee the MotoGP projects for Animoca Brands and work closely with the Revv Motorsport team, which operates the blockchain game MotoGP Ignition, as well as manage WePlay Media’s portfolio of projects.
Animoca chair Yat Siu said:
“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.”
In June, Animoca Brands announced its partnership with Dorna Sports, which will see Animoca Brands become the title sponsor of the MotoGP during the 2022 and 2023 seasons in Aragon and Australia.
WePlay Media is the latest company for Animoca Brands to enter into an agreement with the company that will allow them to expand their partnership with Dorna Sports as a sponsor, NFT licensor, and publisher of collectible cards, as well as a blockchain game developer.
Sport and eSport competitions, as well as blockchain games, are niche markets of today’s world. Companies like Animoca Brands that enter this market have lots of opportunities for growth in the coming years.
Many users and fans love this competition, and there are lots of growth paths to enter here. The NFT ecosystem can help them a lot here, and we can expect these brands to become more successful fastly.