The blockchain-games operator Animoca Brands announced the acquisition of WePlay Media, the studio known for MotoGP Championship Quest.
We are pleased to announce that Animoca Brands has entered into a Membership Interest Purchase Agreement for the intended acquisition of WePlay Media, the developer of the highly popular @MotoGP Championship Quest.
Read the full announcement: https://t.co/RxFMpmTcGY#NFTs #web3 pic.twitter.com/dNLXmiV75J
— Animoca Brands (@animocabrands) September 16, 2022
The closing of the deal remains subject to a number of undisclosed conditions. Financial details were not disclosed.
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Under the agreement, the acquisition reflects a strategy to boost user engagement in mobile racing games.
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«Animoca Brands has the opportunity to reach hundreds of millions of users in core growth demographics to expand the fan base of racing», — said Graeme Worring, co-founder and COO of WePlay Media.
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The blockchain-games operator has steered investments toward developing the segment, unveiling an auto-racing-based ecosystem of REVV token rewards and an NFT program within the MotoGP game.
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In April 2022, Animoca Brands acquired the game developer Eden Games, known for Gear.Club and the Test Drive series.
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Prior to that, the operator’s portfolio was augmented by Grease Monkey Games, which subsequently attracted funding to develop Torque Drift 2.
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Animoca Brands is the publisher of a number of games, including The Sandbox, Crazy Kings and Crazy Defense Heroes, as well as digital products based on intellectual property.
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The firm owns several subsidiaries, including Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Darewise, Notre Game and TinyTap.
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Animoca Brands actively invests in Web3 projects. In its portfolio there are more than 340 positions, among them Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas and others.
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In early 2022 the firm raised $358.9 million at a valuation of $5 billion, in July — $75.32 million.
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Earlier in August, Animoca Brands raised $100 million in convertible bonds, which Temasek, the Singapore government-owned firm, will purchase.
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