Motorsport Games sells Traxion community platform assets for $250K to Traxion.GG

Motorsport Games Inc.

Total consideration $250K: $200K cash at closing plus $50K in marketing services through Dec 2026.
Assets sold include the motorsport community content platform Traxion, deemed non-core.
Transaction closed April 26, 2024, as part of cost reduction and operational streamlining.
No employees transferred; buyer assumes liabilities under WP Engine and Venatus agreements post-closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Motorsport Games Inc. entered into Asset Purchase Agreement with Traxion.GG Limited valued at $250,000 (effective 2024-04-26).

Action: entry
Agreement: asset purchase
Counterparty: Traxion.GG Limited
Value: $250,000
Effective: 2024-04-26

Exact text from the filing

On April 26, 2024, Motorsport Games Inc., a Delaware corporation (the “Company”), entered into an Asset Purchase Agreement (the “Agreement”) with Traxion.GG Limited (“Traxion.GG”).

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Motorsport Games Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-017358

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