Animoca Brands Corporation Ltd (ASX:AB1) has secured a three-year global licensing agreement with Dorna Sports, S.L. to develop and publish the first official blockchain game based on MotoGP™.
MotoGP, the premier class of motorcycle road racing events, is the oldest motorsports championship in the world and watched by over 400 million viewers worldwide.
This deal further builds Animoca Brands’ position as a leader in blockchain-based games for major sports brands - particularly motorsports, given the March 2019 deal with Formula 1. The company also has licenses with sports brands including Major League Baseball, Bundesliga and FC Bayern Munich.
In order to fund business opportunities including the advancement of the game, the company has completed a strategic capital raise of $1 million priced at 20 cents, a premium to the last traded price of 18 cents.
Mutually beneficial agreement
Animoca Brands’ co-founder and chairman Yat Siu said: “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.”
Dorna Sports’ managing director Pau Serracanta said: “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.”
Animoca Brands can sell in-game collectibles to users
Under the three-year licence agreement, Animoca Brands will develop and publish globally a manager-style blockchain game based on MotoGP.
In the game, users will be able to buy digital collectibles that will include unique non-fungible tokens based on MotoGP intellectual property (IP).
Animoca Brands has been granted the rights to use MotoGP IP including logos and imagery of riders for the production and promotion of the game.