By
Svetlana Soroka
April 25th, 2024
The Eden Games acquisition by Animoca Brands is not the first in recent times. At the beginning of this year, Animoca Brands announced the acquisition of mobile game developer Grease Monkey.
Animoca Brands, a digital entertainment company that focuses on GamiFi via blockchain technology, has announced the acquisition of Eden Games. According to Animoca Brands through a blog post, it has acquired 100 percent of the issued capital of Eden Games. Notably, Eden Games was initially owned by Engine Gaming & Media (NASDAQ: GAME).
The company intends to widen the scope of GamiFi through notable acquisitions. The Eden Games acquisition by Animoca Brands is not the first in recent times. At the beginning of this year, Animoca Brands announced the acquisition of mobile game developer Grease Monkey.
Reportedly, the company anticipates leveraging the expertise and capabilities of Eden Games to venture into blockchain games. Among others, the company will work on existing and new titles in the REVV Motorsport ecosystem.
Yat Siu, co-founder and executive chairman of Animoca Brands, said:
“With its quarter of a century of expertise in building high-quality motorsport video games, Eden Games will enhance and accelerate the development of the REVV Motorsport ecosystem and add powerful value to the REVV community and the racing metaverse.”
On the other hand, David Nadal, co-founder, and head of the studio of Eden Games said:
“We are excited to start the next chapter of Eden Games by joining Animoca Brands. We look forward to producing new experiences that challenge the status quo within the motorsport genre and venture into new frontiers such as Web3 alongside a leader in the space.”
Animoca Brands and the Market Outlook
The company has a growing portfolio of more than 150 investments in NFT-related and decentralized projects. The company has dedicated its resources to exploring the Metaverse market. Among its notable projects include Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.
The Australian incorporated company has 1,794,128,323 fully paid ordinary shares as of January 18, 2022. In the blockchain sector, the company has made waves with the Sandbox virtual world project.
Notably, the Sandbox project uses NFTs and SAND tokens to incentives both developers and players. Thereby making its projects unique from the traditional gaming industry like Roblox.
According to market data provided by CoinGecko, The Sandbox (SAND) is ranked 42 by market capitalization. As of reporting time, the project had approximately $3.19 billion in market cap and a 24-hour trading volume of $343 million. SAND is exchanging hands around $2.75, having declined approximately 3.5 percent today.
Other notable games by the company include Benji Bananas, a free-to-play mobile game, Revv Motorsport, and Phantom Galaxies.