Animoca Brands will develop and release Manchester City men’s and women’s teams, and Melbourne City FC in mini-games on GAMEE, the Company’s hyper casual gaming platform. Animoca Brands will also distribute digital Manchester City FC, Manchester City Women’s FC, and Melbourne City FC collectibles on Quidd, its digital collectibles subsidiary. Animoca Brands’ The Sandbox, a decentralized, community-driven platform, will create unique gaming experiences based on Manchester City and Melbourne City FC.
The digital assets and collectibles are also known as non-fungible tokens (‘NFTs’). The authenticity, rarity, scarcity, ownership, and other properties of NFTs are independently guaranteed, verified, and secured on blockchain.
Unlike most digital content, which is temporarily provided as a service to users on a licensing basis, NFTs are truly ownable. An NFT is owned by its holder regardless of any decisions taken by any other party, including the NFT’s developer. Owners are free to do anything they want with their NFTs: they can sell them on a marketplace, trade them for other items, or use them in supported games.
Like physical football card collectibles, rare digital collectibles can be extremely valuable. Recently, Animoca Brands sold the first ever official Formula 1® race track NFT, developed for its blockchain game F1® Delta Time, for the equivalent of approximately US $223,000, the highest sum ever paid for an NFT.