Monday, December 5, 2022

Animoca Acquired Eden Games To Make New Game After F1 Shutdown

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Animoca Acquired Eden Games, a racing crypto game after the F1 shutdown so let’s read more in today’s latest cryptocurrency news today.

Eden Games will develop an NFT powered game in Animoca’s REVV racing ecosystem after the shutting down of F1 Delta Time. Animoca acquired Eden Games and it is working on a new blockchain-powered racing game for Animoca. The latter is now valued at over $5 billion as one of the biggest game publishers and metaverse investors and expands further by acquiring a long-running video game developer Eden Games.

Eden Games was founded in 1998 and It is best known for developing PC racing games like the Test Drive Unlimited series and Need for Speed. The French studio was mainly focused on racing games like the shift towards mobile titles such as Gear.Club and F1 Mobile Racing. Animoca acquired Eden Games from Engine Gaming and Media for $16 million and was previously under Atari which shut down in 2013 before reopening as an intendant studio after Atari’s bankruptcy proceedings.

edengames

Given Animoca’s Web3 focus, it doesn’t come as a surprise that Eden Games will have the task to create a blockchain-based game. The studio will work on other games in the REVV Racing ecosystem as well as new racing games. The REVV Racing ecosystem includes the NFT-powered racing game that is based on the ETH sidechain dubbed Polygon as well as MotoGP. An NFT acts like a deed of ownership to a digital item and in video games, this can mean that things such as avatars, race cars, weapons, and virtual land, represent ownership ina n NFT form. The wider NFT market generated $25 billion in trading volume in 2021.

The Eden games acquisition came less than a month after Animoca shut down its Formula 1 game which was forced to shut down after Animoca was unable to renew its league licnese. As a result, Animoca provided NFTs from the REVV Racing as a free replacement for players that purchased NFTs for F1 Delta Time but also an NFT pass that will allow various benefits like token staking. Eden Games’ upcoming racing games will play into the wider REVV ecosystem with Animoca framing the announcement as a benefit to anyone that recieved compensatory NFTs as a result of the F1 Delta Time shutdown:

“The new games will provide additional utility to the NFT Race Passes and the other assets obtained by swapping assets from Animoca Brands’ F1 Delta Time.”

This is Animoca’s second racing game acquisition in February the company acquired Grease Monkey Games while also being the publisher of The Sandbox ETH-based metaverse game.

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