Former ASX-listed company Animoca Brands has announced another collaboration, joining forces with metaverse gaming club Yield Guild Games for a new cup tournament in Animoca’s skill-based automotive racing blockchain game, REVV Racing.

The YGG Cup has a prize pool of US$150,000 and will take place Friday through 16 September.

YGG is a play-to-earn gaming guild with more than 50,000 members that invests in yield-generating non-fungible tokens (NFTs) in virtual worlds and blockchain-based games.

Its YGG token represents all YGG assets in the metaverse, such as Axie Infinity creatures.

At Tuesday’s price of US$7.23 a token, YGG has a market cap of US$636 million, making it the No. 142 crypto.

YGG co-founder Gabby Dizon said that the guild was proud to sponsor the cup.

“REVV Racing is setting the standard for the future of car racing in the rapidly growing play-to-earn category, providing players with the right to own, customize, share, and profit from their in-game NFT assets,” he said.

“This gives players more control than has ever been possible in the gaming world and that’s exactly the kind of empowerment we want to see as we continue our mission to onboard billions of players to the metaverse.”

Yat Siu, chairman and co-founder of Animoca Brands, said: “Gabby and YGG have been doing fantastic work to push the NFT gaming and play-to-earn movement toward the mainstream, so we are particularly excited to collaborate with them to bring the YGG community into REVV Racing and into the broader REVV ecosystem.”