Animoca Brands intend to acquire the makers of the highly popular MotoGP™ Championship Quest, WePlay Media in an undisclosed all-cash transaction.
This news comes on the heels of Animoca Brands coping the title sponsorship of the MotoGP™ Gran Premio Animoca Brands de Aragón.
The acquisition of WePlay Media Holdings LLC will be completed once the customary conditions have been met Per Animoca’s press release.
What is WePlay Media?
WePlay was founded by Graeme Warring in 2014 along with racing video game veteran Mark DeSimone.
The MotoGP brand reaches nearly half a billion homes and has ammasses more than 40 million social media followers from around the world.
WePlay Media’s first relationship with Animoca Brands started with a partnership in 2019 to developed its very first NFTs based on the MotoGP brand. A partnership which produced a play-to-earn competitive management and collectibles game, MotoGP™ Ignition.
Animoca even assume the title sponsorship for multiple MotoGP™ Grands Prix in 2022 and 2023.
Why Acquire We Play Media?
The press release acknowledges that the acquisition will allow Animoca Brands to expand its existing relationship with Dorna Sports as a sponsor, NFT Licensor, collectible cards provider, and blockchain game developer/Publisher.
“The acquisition of WePlay Media will boost our engagement with fans of the amazing sport of MotoGP, unlocking powerful exposure in both the metaverse and traditional gaming. We are gaining a unique platform to implement our Web3 strategy as we incorporate our motorsport-based REVV Token and NFT programs with the official MotoGP mobile game and deepen our strategic relationship with MotoGP.”
Yat Siu, the co-founder and executive chairman of Animoca Brands, commented
This acquisition will also push the development of integration of MotoGP™ Ignition with that of the more stable official mobile racing game, MotoGP™ Championship Quest.
Animoca Brands’ intended acquisition of WePlay Media also comes on the heels of the release of the key findings from the MotoGP™ Global Fan Survey, undertaken by MotoGP™ organiser and commercial rights holder Dorna Sports in partnership with Motorsport Network. The survey results identified huge existing interest and opportunities for further growth in gaming, highlighting that 79% of all respondents aged 16-24 engaged in competitive gaming at least once a week. Mobile gaming was especially popular for 68% of female MotoGP™ fans and with 54% of fans in the Asia-Pacific region.
What is next?
Once the acquisitions is completion, WePlay Media’s COO, Graeme Warring will continue to lead WePlay Media and direct MotoGP™ projects. He will also be working with Animoca Brands’ REVV Motorsport team, which operates the blockchain game MotoGP™ Ignition.
Following the completion of the intended acquisition, Animoca Brands and WePlay Media will begin to integrate the REVV ecosystem with WePlay Media’s products to deliver play-and-earn opportunities, build on existing partnerships, and welcome new partnerships to amplify fan engagement.
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