Full throttle: Animoca Brands to develop MotoGP blockchain game
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Special Report: Animoca Brands is dominating the motorsport blockchain gaming space, announcing today it is developing a blockchain-based manager game and associated digital collectibles based on MotoGP.
Animoca Brands (ASX:AB1) has completed a $1 million capital raise at a 12 per cent premium, led by sophisticated investors including Moses Tang, the founder of AP Capital and founding chairman of Goldman Sachs Asia Pacific, to fund the development.
It will be the second blockchain-based game the company has taken on for a major motorsport, following ‘F1® Delta Time’, the blockchain racing game Animoca Brands is building in partnership with the world-famous motorsport brand Formula 1.
The company secured a three-year global licensing agreement with Dorna Sports to produce a “manager” style game based on MotoGP that will consist of a selection of digital collectibles linked directly to the core gameplay; the game will utilise blockchain technologies and custom-developed smart contracts to enable users to purchase, collect, view, use, and transfer the collectibles that will be part of the gameplay. It is expected to launch in time for the start of the 2020 MotoGP season.
It follows the company’s F1® Delta Time announcements and auctions, which allows players to trade non-fungible tokens, representing various car parts, to ‘build’ their F1 car and team, and then race against other players.
The MotoGP manager game further strengthens Animoca Brands’ positions as a leader in the space of blockchain application for major sports brands, as well as digital collectibles. The company also has arrangements with major sports brands like Major League Baseball, Bundesliga and FC Bayern Munich.
Yat Siu, the company’s co-founder and chairman, who will also take part in fundraising, said the game will broaden consumer reach, drive fan engagement through true digital ownership of in-game elements, and increase uptake and revenue by leveraging the established brands associated with Dorna Sports and MotoGP.
“We are honoured to work with MotoGP, the undisputed leader among motorcycle racing brands, and we look forward to bringing to blockchain the excitement and thrill of the world’s most popular motorcycle races. With both MotoGP and Formula 1 as partners, Animoca Brands has established a solid foothold in two- and four-wheeled motorsports,” he said.
Pau Serracanta, managing director of Dorna Sports, said it was an innovative opportunity the sport could not miss.
“I’m delighted to announce this agreement and to continue evolving our involvement in blockchain technology. The digital world is one of opportunity and I’m proud to see MotoGP further cemented as a forward-thinking and innovative brand, at the same time as giving fans another way to engage with our sport and get the most from their passion for Grand Prix motorcycle racing,” he said.