Mercia Technologies PLC is pleased to announce that its direct investment, VirtTrade, has secured a partnership with Formula 1 to join its growing roster of digital initiatives, aimed at providing innovative new methods for fan engagement in the sport.
VirtTrade is a developer and publisher of digital trading cards and works with licensors to create high quality engagement apps for fans. The VirtTrade platform allows fans around the world to pursue their passions by collecting digital cards, making trades and competing in games.
This new Formula 1 partnership follows the recent agreement of a three-year collaboration with Valiant Comics to develop an extensive digital collectibles app, based on the company's characters and titles.
VirtTrade has been selected to feature in Tech City UK's Upscale 2018 programme, a cohort of the UK's fastest growing technology companies. Duncan Best, the former chief marketing officer of Dovetail Games, has also recently joined VirtTrade as Publishing Director.
Paul Mayze, Managing Director of VirtTrade, said: "We are thrilled to be working with Formula 1 and the opportunity that the brand presents for a digital collecting experience. We look forward to helping Formula 1 and its owners enter a new space to engage fans and drive revenue streams."
Mike Hayes, Head of Digital & Digital Entertainment at Mercia, said: "This is a really exciting time for VirtTrade and Mercia is pleased to continue supporting the business as it goes from strength to strength, by building strategic partnerships with high-profile brands such as Formula 1, The Discovery Channel and Valiant Comics. We look forward to seeing the business scale and grow, delivering shareholder value over the medium term."
Adam Crothers, Head of Digital New Business at Formula 1, said: "VirtTrade offers F1 a new and alternative take on presenting our mix of content as well as a new entry point for fans. We think their unique take on collectibles gamification will be a hit with our current fan-base too and the product offers a game type environment that isn't simply simulation based."
The RNS Reach announcement can be found here.