Animoca Brands Acquires Gaming Company WePlay Media

Summary:
• Animoca Brands has bought gaming platform, WePlay Media. We discuss the motivation behind it and its potential impact.

Animoca Brands, a major player in the digital property rights industry, has acquired WePlay Media, the creators of the hit blockchain game MotoGP Championship Quest. This is a significant addition to its growing stable of gaming affiliates. Also, it’s yet another strong proof that Animoca is committed to growing in the motorsports game market. The company has already implemented their NFT incentive system and REVV token ecosystem for the MotoGP game, both of which are centred on motorsports.

Animoca Brands and its insatiable hunger for Web3 gaming dominance 

This year, Animoca Brands will have a strong presence at the Grand Prix of Aragon as well as the Australian Motorcycle Grand Prix. Both of these competitions shall be referred to by their official names—the Animoca Brands Gran Premio de Aragón and the Animoca Brands Australian Motorcycle Grand Prix, respectively—from this point forward.

Furthermore, MotoGP announced in August a partnership with Gryfyn, an NFT-centric custodial wallet developed by Animoca Brands. According to the terms of the agreement, Gryfyn will serve as the official title sponsor of the Gran Premio di San Marino e della Riviera di Rimini for the years 2022 and 2023. Also, back in April, Animoca bought Eden Games, the studio behind such hit racing games as Gear.Club and the Test Drive series.

The acquisition of WePlay Media is an endeavour to increase participation in motorsport mobile games. The latest purchase follows Animoca’s September 8 successful $110 million fundraising round spearheaded by Temasek. The company intends to use some of the money for future strategic acquisitions. The gaming industry has shown remarkable resilience, despite the turbulence in the crypto market.

According to a recent report by DappRadar, gaming has maintained more than 50% of total blockchain usage in the past three months. This shows that the future could be even brighter for the sector once the market rebounds. Play-to-earn (P2E) and Move-to-Earn (M2E) games are two of the key driving forces behind the strong show by blockchain games.