Recently, Touchpoint Group Holdings released their Q1 and investors were paying attention to an update regarding the World Championship Air Race (WCAR). WCAR will build upon the considerable legacy left behind by Red Bull Air Race, and is well-positioned to provide one of the worlds most exciting and innovative global sporting events, with an emphasis on technology, innovation, clean energy, and the ultimate in experiences. In partnership with our partners at the Air Race, this global sports series will quickly embrace and showcase cutting-edge innovations in aviation technology as the aviation mobility sector changes in the coming years.
Building on our fundamental fan engagement expertise, last year we announced the purchase of the World Championship of Air Racing (Air Race), the racing format developed by Red Bull as Red Bull Air Race. Mark White, Chief Executive Officer of the company, commented: Earlier this year, we completed our transformative acquisition of Air Race World Championship Limited.
This transformational WCAR acquisition is only the first step in the long road towards WCAR, and Touchpoints is looking forward to providing an array of exciting updates. In the meantime, we continue to focus both on the advanced plans for launching the Air Race next year, and also to accelerating growth for our flagship fan engagement platform, Touchpoint. Touchpoint Group Holdings CTO Spencer Christopher commented, Touchpoint is investing tremendous resources into expanding the games side of our business, and we could not be more excited for our future with AppSwarm.
In September, Touchpoint Group Holdings purchased some rights to the WCAR, with the leadership team and all of the WCARs core operations staff joining the companys Air Race Limited subsidiary. TGHI plans to leverage its experience with engaging audiences via application development to improve the spectator experience, while simultaneously creating new revenue-generating verticals for the race. Touchpoint Group Holdings designs and delivers the Fan Engagement Platform, which improves fan experience and drives commercial aspects of the sports and entertainment business.
Touchpoint Group Holdings, Inc. announced Touchpoint Group Holdings has begun the early stage of developing their Advanced Aerial Mobility Vehicles into Non-Functionable Tokens (NFT) products for the Metaverse Gaming industry. Ardelyx Inc. announced on Tuesday that it has created a new subsidiary called Meta Universe Holdings Corp., that will combine all of the projects related to the metaverse. Previously, Tonner-One World Holdings focused on designing and marketing puppets, but the company is now moving into cryptocurrency and fintech. Recently, CEO Ejike Arinze said in a letter to shareholders that the companys business model will be focused on the acquisition and management of businesses and assets in the rapidly growing FinTech sector.
Bhd, the Malaysian aviation and marketing company, and will mark the first time that the ARWC will take place in Malaysian soil since its run in 2014. Dato Alimuddin Mallorong, Bhd, commented, Bhd is happy to see the ARWC return in the air once more in Malaysia, following the race in 2014. Nalin Jay, Managing Director, AIR RACE Limited, said, We are happy to announce Malaysian Country as one of the host countries of AIR RACE World Cup 2022.
The AIR RACE World Championship has attracted viewers from 187 countries, with an estimated viewership of more than 230 million viewers with more than 2.3 billion media impressions across the globe during the last season. AIR RACE is designed to advance the frontiers of contemporary aerial sport, providing a platform to champion and demonstrate the latest technology developments in green energy and advanced aerial mobility. ARWC is about more than winning a competition, it is about shining a light on developing aeronautical technologies, and most importantly, showing the bravery of pilots who take on a demanding course.
New categories for the race that will be introduced include Electric-Powered Aircraft, EVTOLs (Vertical Take-Off and Landing) and JetPacks. Twelve elite racing teams have already signed up to participate for the 2022, 2023, and 2024 racing seasons, while another twelve Challenger Pilots are competing in a new, second-tier aero series — including some of the latest and greatest graduates from the Academy of Air Racing. While the start of the season is set to be in May 2022, 7 races are scheduled to be held across 2022 at iconic locations including Russia, Egypt, Portugal, Greece, UK, Indonesia, and the Middle East.
Boldly claiming its mission to be a sky-based Formula One, Touchpoint has scheduled its season launch of 2022 air races to be held in July, and six air races are scheduled for that year so far. Red Bull welcomed more than 24 million spectators to the events before Touchpoint acquired the racing series. For sports fans, grand prix races have long combined hot, jet-set crowds with exotic global destinations, hosting the highest-stakes, highest-speed spectacles, featuring globally famous adrenaline junkies racing through the heart of the city at speeds in excess of 200 miles per hour. As such, Touchpoints is excited to be taking the reins and helping to further evolve the series offerings, making the events and races internationally more immersive and experiential than ever before for fans and spectators.
Built upon our core fan engagement experience, over the past 12 months, we have introduced our purchase of the World Championship in Air Racing, the racing format developed by Pink Bull under the name Pink Bull Air Race. The formation events were also an excellent opportunity for all major suppliers, track operations personnel, and the top executives at AIR RACE Limited to come together and plan next years racing programme. The five-day training camp, involving both simulated and real-life components of AIR RACE, was conducted under special air authority approvals that allowed for lower-level operations. This multi-year deal, valued at over US$8.5M, demonstrates the host nations AIR RACE Limiteds commitment to investing in our unique brand of motorsport.
Marko Radisic believes that this partnership will provide considerable benefits and exposure for both Touchpoint and its fully owned subsidiaries, with the targeted audiences and exciting racing formats being tightly aligned to the SROs. As such, Touchpoint Group Holdings will be promoting and featuring the Company and its wholly owned subsidiary, AIR RACE, in SROs Fanatec GT World Challenge America powered by AWS events during the 2022 season. Led by Willie Cruickshank as race series director, the Touchpoint principal team has an immense amount of knowledge and experience, having been instrumental in developing and running the Red Bull Air Race. As the Director of WCAR, Willie Cruickshank will be leading the Series in supporting, promoting, and providing brands and companies a R&D platform for developing future technologies and innovations.