Animoca Brands, a Hong Kong-based games publisher and VC firm focused on open metaverse, has completed the 100 per cent acquisition of Melbourne-based indie motorsports game developer Grease Monkey Games.
The deal size hasn’t been disclosed. It will allow Animoca Brands to benefit from Grease Monkey’s significant game development capabilities and expertise. So far, Grease Monkey has logged 45 million downloads across both mobile and PC worldwide.
The current management of Grease Monkey Games will continue to operate the company after the arrangement, stated in the official announcement.
Its team will work closely with Animoca Brands to align efforts relating to blockchain integration, fungible tokens, non-fungible tokens, play-to-earn (P2E) capabilities, synergy opportunities, and product launches. Animoca Brands owns the REVV Motorsport ecosystem, whose all tiles are based around the concept of P2E.
Also read: How play-to-earn is fueling the next wave of blockchain adoption
Founded in 2014 by Yat Siu, Animoca Brands has a growing portfolio of more than 150 investments in NFT-related companies and decentralised projects contributing to building the open metaverse. Its investments include Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.
Animoca Brands also owns multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Bondly, and Lympo.
Launched in 2013 by Arran Potter, a veteran of the video visual effects industry, Grease Monkey Games develops motorsports games, connecting video game enthusiasts and motorsport fans worldwide. The driving game Torque Burnout and drifting game Torque Drift are its prominent original IP gaming titles.
Grease Monkey Games said it has an extensive portfolio of licensed partnerships with vehicle manufacturers including Nissan, Toyota, Ford, and BMW, and aftermarket parts manufacturers including Link ECU, Wilwood, and Mishimoto.
This February, Animoca Brands announced its partnership with global venture accelerator Brinc to launch Guild Accelerator Programme, aiming to enable millions of people worldwide to generate income by participating in the P2E gaming ecosystem.
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Image Credit: Animoca Brands
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