Hong Kong-based Web3 giant Animoca Brands announced on April 11 that it has acquired racing game developer Eden Games. With the buyout, the venture company plans to expand its REVV Motorsport (REVV) franchise.
1/ Motorsports @REVV_Token $revv in the Metaverse just got a turbocharge with the extremely talented studio behind @needforspeed @F1MobileRacing and classics like Test Drive any many more @EdenGames has joined the @animocabrands family. #NFTGames https://t.co/LTTN7H3CY6
— Yat Siu (@ysiu) April 11, 2022
Founded in 1998, Eden Games is a french game developer specializing in publishing racing games, including GEAR.CLUB, F1 Mobile, Need for Speed: Porsche and V-Rally. Engine Gaming and Media, the parent company of Eden Games, has sold 96% of its interest in Eden Games for approximately USD$15.3 million to Animoca Brands.
This marks Animoca Brands’ second gaming acquisition of the year. In February, the VC giant revealed that it has acquired indie motorsport game maker Grease Monkey Games, which has published popular games like Torque Drift and Torque Burnout, for an undisclosed amount.
With the latest acquisition, Animoca Brands aims to expand metaverse capabilities to racing games, including its existing play-to-earn game REVV Motorsport. It may also leverage Eden Games’ current partnerships with BMW, Bugatti, Porsche, and several other established brands.
Yat Siu, co-founder and executive chairman of Animoca Brands, commented on the announcement:
“With its quarter of a century of expertise in building high-quality motorsport video games, Eden Games will enhance and accelerate the development of the REVV Motorsport ecosystem and add powerful value to the REVV community and the racing metaverse.”
The news also came a month after Animoca Brands announced that has closed down F1 Delta Time, one of the first NFT games, after it was unable to renew its license with the Formula 1 racing brand.