Metaverse Makers: Animoca NFT Video Game Subsidiary Receives Epic Grant
Grease Monkey Games, an Australian subsidiary of blockchain video game maker Animoca Brands, received a MegaGrant from Cary, NC-based creators of Fortnite and Epic Games. Grease Monkey will use the grant to support its Torque Drift 2 motorsport game, which is currently in development. It’s the final step in Animoca and Epic Games’ goals to evolve the metaverse.
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MegaGrants, a specific type of financial grant from Epic Games, range from $5,000 to $500,000. They are intended to cover game development, architecture projects, film production, academic use and software development for projects using Epic’s proprietary Unreal Engine. Unreal Engine is a suite of 3D creation tools used to develop games, create TV content and visualize models. Grease Monkey did not disclose the total amount of the grant. But it plans to use the funds to develop new drift physics for the upcoming game.
Torque Drift 2 is the latest in Grease Monkey’s lineup of blockchain-based racing games. The latest iteration of Torque Drift includes functional NFTs from various cars that players can race against. Grease Monkey says this is a “core feature for delivering true digital ownership of game assets to players.”
Creating the Metaverse
Animoca Brands and Epic Games are both heavily involved in developing the metaverse. Animoca’s portfolio includes more than 340 games and studios centered around blockchain technology and NFTs. Some of the names include Axie Infinity, The Sandbox and Yield Guild Games. While Animoca believes the future of the metaverse lies in Web3, Epic Games has a more traditional view.
What is the metaverse?
Epic is backed by a China-based internet company Tencent Holdings (TCEHY), which owns 40% of the company. And Epic has expanded its Fortnite game from its early days as a royal free-for-all to include concerts, show screenings and other social events for players. Even if Epic doesn’t become the biggest name in the metaverse, sharing the unreal engine ensures that it’s at least built with Epic’s technology.
Many companies are fighting to establish dominance in the metaverse. Meta (META), the company formerly known as Facebook, rebranded to reflect its new emphasis on virtual reality. Meta has invested roughly $10 billion in the effort so far. But the VR graphics are years behind the Unreal Engine, and many applications are far from ready for daily use. Others like Roblox (RBLX), allows players to create their own games and content within the existing video game for a more grassroots development of the metaverse.
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