Hong Kong’s Animoca Brands Fully Acquires Lyon-Based Eden Games
Nicholas Otieno Apr 12, 2022 07:25
The new acquisition will help Animoca Brands enhance its product offerings.
Animoca Brands, a Hong Kong-based game software company and venture capital company, announced on Monday that it has 100% acquired Eden Games. This French Lyon-based video game developer majorly focuses on developing racing video games.
Animoca Brands will leverage the capabilities and expertise of Eden Games to work on existing and new titles in the REVV Motorsport ecosystem and to bring to market a variety of new blockchain-based racing games. The new games will offer additional use of the NFT Race Passes and the other assets obtained by swapping assets from Animoca Brands’ F1® Delta Time, which stopped operations in March 2022.
Yat Siu, co-founder and executive chairman of Animoca Brands, talked about the development and said: “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.”
Meanwhile, David Nadal, co-founder and head of the studio of Eden Games, also commented about the new collaboration and stated: “We are excited to start the next chapter of Eden Games by joining Animoca Brands. We look forward to producing new experiences that challenge the status quo within the motorsport genre and venture into new frontiers such as Web3 alongside a leader in the space.”
Eden Games is a highly successful and respected racing game studio with products ranging from management racing to open-world and pure racing games. Founded in 1998, Eden Games has substantial experience developing award-winning racing games across console, mobile, and PC platforms. Besides that, Eden Games has developed long-term partnerships with over 30 major brands in the automotive industry, including Pagani, Lotus, BMW, Bugatti, Porsche, and many others.
Appetite for Expansion
Founded in 2014, Animoca Brands, together with its subsidiaries, develops and markets a portfolio of mobile games and apps for smartphones and tablets in Asia and Europe.
Animoca Brands has ambitions to expand further and is always interested in acquisitions. In January, the firm raised almost $360 million in a funding round led by Liberty City Ventures, a funding raise that gave the company a valuation of more than $5 billion.
Animoca Brands not only has invested in more than 150 NFT and metaverse-related companies but also publishes games globally, with over 20 brand partnerships currently in place. The firm approaches such partnerships strategically and selects brands that allow it to get ahead in specific markets or with particular demographics.
Its biggest-spending territories are the U.S., China, Japan, and South Korea, but its geographical player distribution is wide. It is always mindful of emerging markets.
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