For the few who didn’t know, MotoGP is the world speed championship, also known as the MotoGP World Championship, which has over 400 million fans. It is a series of Grand Prix that are held in different circuits around the world.
Dorna Sports is a world leader in sports management, marketing and media, responsible for the management of the MotoGP World Championship and it’s the exclusive owner of the commercial and television rights of the series.
Animoca Brands, on the other hand, is a company that develops blockchain-based mobile games. This agreement is a very important result for the company that already boasts a rich portfolio of successful games such as The Sandbox, Crazy Kings, Crazy Defense Heroes, but especially Formula 1, Garfield, Snoopy, Thomas & Friends, Ever After High and Doraemon.
Pau Serracanta, CEO of Dorna Sports, explained:
“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 brings MotoGP to blockchain: the game
Animoca Brands has agreed to pay Dorna Sports a minimum non-refundable fee that has not been disclosed, as well as royalties consisting of a percentage of net gaming revenue and related collectables.
The agreement with Dorna Sports consolidates its leading position in the blockchain-based gaming space, particularly in the motorsport sector.
Animoca Brands has stated that the launch of the blockchain game is expected by March 2020. As with the F1 game, the MotoGP game will also allow the collection of non-fungible tokens (NFT). The tokens are owned by the players, we speak of digital ownership, and they are allowed to exchange or sell them.
For example, in F1 Delta Time, also produced by Animoca, all cars and drivers are NFTs with unique racing characteristics that affect players’ chances of winning on the track. Tokens are produced in limited quantities based on their level of rarity. The MotoGP game will be a managerial one and the purchase and sale of the tokens will be based on the use of smart contract developed ad hoc.
Yat Siu, co-founder and President of Animoca Brand, 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.”
To finance the development of the game Animoca made a capital increase of $1 million, issuing 4.25 million new shares at a price of $0.20 per share.