The AIM-listed firm said the ERC concept is based on a “unique format not seen in virtual racing before” and will feature professional simulation racing drivers and a roster of teams from digital motorsport.
The championship will have two seasons each calendar year, with the first to take place in 2020 and be hosted by Gfinity.
Under the agreement, Gfinity will provide services to the ERC including production and tournament operations, while the companies will be jointly responsible for commercialising the championship.
The ERC will use Gfinity’s Race Control technology, which will be utilised for in-race adjudication and data feeds delivering new levels of insight to fans about drivers and car performance.
The company also said its digital media group will work with ADMM's marketing and social media teams to build the new channels and a global community of gamer racing fans under the ERC brand, supported by promotion and support from Gfinity's existing global gaming community of 11mln users.
"Motorsports is a key pillar of our strategy and we are excited to be entering into a long-term partnership with Abu Dhabi Motorsport Management. We have a shared passion for the Esports Racing Championship and a desire to build a product that will sit alongside the biggest brands in motorsport”, Gfinity chief executive John Clarke said in a statement.
“There are millions of gamers that love racing. We have created a format that will excite and draw them into the ERC, giving sponsors and advertisers the opportunity to engage with this typically hard to reach audience", he added.
Shares in the company rose 1.2% to 1.7p in early trading on Thursday.