Animoca Brands announces Veloce partnership and investment

Racing esports organisation Veloce has announced a partnership with blockchain and NFT company Animoca Brands.

As a part of the agreement, Animoca Brands has invested into the organisation’s pre-IPO funding round using its branded motorsports utility token, REVV. The amount invested into Veloce has not been revealed.

Image credit: Veloce /Animoca Brands

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According to the release, the partnership is expected to span across Veloce’s esports operations. This includes its teams, channels and racing leagues, such as Squadsprint. Additionally, the deal will cover the organisation’s sister company Veloce Racing, which is currently competing in the Extreme E series.

Jack Clarke, Co-Founder and Chief Innovation Officer for Veloce, commented: “I’m incredibly excited about the partnership we’re building with Animoca Brands. With a concentrated focus on blockchain integrated gaming, we see an immense future for tokenised gaming and sport.

“No organisation matches Animoca Brands’ breadth and portfolio within the blockchain gaming space, and we are excited to leverage our 200 million-plus monthly viewership to build a truly integrated ecosystem for our combined digital audiences.”

Animoca Brands leverages gamification, blockchain and AI to develop and publish its portfolio of products, such as tokens and games. The firm’s partners include the likes of Formula 1, Formula E and Moto GP, among others.

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Exact details of Animoca Brands’s involvement with Veloce’s esports and racing entities has not been disclosed.

Yat Siu, Co-founder and Chairman of Animoca Brands, added: “Veloce and Animoca Brands have clear synergies: aside from considering Veloce as a highly valuable investment opportunity, we are incredibly excited to develop a partnership that spans blockchain integrated gaming as well as real-life sport in Extreme E.”

Esports Insider says: Cryptocurrency and esports partnerships have become more and more of a common occurrence in 2021, with both sector’s continually seeing growth. It’s interesting to see tokens starting to be used during esports funding rounds. Only time will tell if this proves to be a successful move. Moreover, it’s also going to be intriguing to see what involvement Animoca Brands has with Veloce’s esports and racing divisions.

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