Hong Kong-based NFT gaming operator Animoca Brands announced the acquisition of game developer Grease Monkey Games. The parties did not disclose financial terms of the deal.
🏁 Today we announced the #acquisition of @GMGStudios, the developer of high-quality motorsports games @torqueburnout and Torque Drift!@REVV_Token @REVV_Racing
🏎️ Read more at: 👇 https://t.co/w5MGnjDIt9
— Animoca Brands (@animocabrands) February 17, 2022
“After the acquisition, the management of Grease Monkey Games will continue to run the company and will work closely with Animoca Brands within the framework of coordinated efforts aimed at integrating blockchain, tokens, NFTs, P2E-games, as well as opportunities for synergies and product launches, especially in the REVV Motorsport ecosystem,” the press release said.
Animoca Brands noted that Grease Monkey Games has extensive experience in arcade racing games, as well as established partnerships in the automotive and car-making sectors. It also announced an upcoming major cross‑platform racing game built on the Unreal Engine 5.
In January 2022, Animoca Brands raised over $358 million in financing. The company’s valuation before the investment round stood at $5 billion.
In February, the developer, together with venture accelerator Brinc announced the launch of the Guild Accelerator Program to support GameFi guilds. The fund size was $30 million.