Blockchain Unicorn Animoca Brands Joins Hockenheimring Racetrack

According to a corporate release, Animoca Brands will create and sell non-fungible tokens (NFTs) that represent partial ownership of the virtual Hockenheimring racetrack.

NFT holders can receive a portion of the virtual racetrack's income through entry fees, sponsorships, and events.

Popular gaming titles such as REVV Racing, Formula E: High Voltage, and Torque Drift 2 are part of the REVV Motorsport ecosystem powered by the REVV token.

Animoca Brands, based in Hong Kong, raised $358 million earlier this year to lift its valuation to $5 billion.

After acquiring French racing game studio Eden Games in April, Animoca is anticipated to produce a series of blockchain-based racing games.

Since 1932, the Hockenheimring has hosted numerous racing events, including the F1 German Grand Prix, the FIA GT Championship, the German Motorcycle Grand Prix, the NASCAR Whelen Euro Series, NitrOlympX, and the Deutsche Tourenwagen Masters. Hockenheimring has six left turns, 11 right turns, and six straights across its 4.574 km length. The racetrack has 120,000 spectator seats and attracts over 700,000 visitors each year.

The EVV token is the primary currency of utility, purchase, and activity in Animoca Brands' REVV Motorsport blockchain games. REVV is designed to provide players full digital ownership of their in-game NFT objects across a burgeoning metaverse of racing games.