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Fenix Games A new type of publisher has been created by raising $150 million for blockchain gaming.
The idea behind the platform company is to be a publisher. blockchain Games to market Fenix Games Plans to publish, invest in and acquire existing games blockchain The future games
Cypher Capital, Phoenix Group and Phoenix Group are among the investors. The new company suggests that blockchain gaming — which has had a kind of Cambrian explosion in the last couple of years — is heading toward a consolidation where big companies are going to emerge by acquiring or funding all strong startups. This means that Fenix Games hopes to be in a good position to roll up a lot of companies together into a single strong company with a big portfolio — one that can survive the current doldrums in blockchain games.
“You can think of us as like a VC fund,” Chris Ko, cofounder and CEO of Fenix GamesIn an interview with GamesBeat. “The market is similar to earlier [mobile gaming at the rise of free-to-play games] but it hasn’t found its Clash of Clans for blockchain games yet. We’re using the VC arm to fund the next generation of games. We’re actually going to start off with a huge base of capital to invest in those studios. We’re also looking to use our balance sheet to acquire a bunch of existing games in the Web2 space to build a portfolio. And that will be the right base for our portfolio.”
The gaming industry has always had players that offered a market or platform. for Both
Gaming game developers. For consoles, there were three platforms: Microsoft, Sony and Nintendo. Mobile platforms include Apple and Google.
Both of these cases created a market that allowed content to be consumed. However, for blockchain Ko. said that the market for gaming is not currently available. The company was founded by gaming industry veterans. blockchain The financial markets.
“We plan to acquire, invest, publish, and operate in select cases games and studios,” Ko. “We will have a few hundred million to deploy to execute our strategy.”
Although the chains could be a similar platform to previous gaming cycles, they do not seem to be focusing on building the market at this stage. for Ko, gamers
“We believe that this is temporary as the primary apps on chains are going to be gaming,” Ko. “The infrastructure, tools and support just does not exist. We believe there is an opportunity for the role of Publishing to elevate its role in the gaming ecosystem.”
Experiential gaming developers are looking to expand into other areas. blockchain gaming, particularly in the wake of Apple’s privacy push in mobile games. But Fenix Games We believe that only a small number of games are being created so far for blockchain platforms.
“We believe that there is a structural gap – We aim to fill this gap with a redefined publishing group that leverages some of the traditional publishing functions, but with a new function,” Ko. “Just like in mobile free-to-play games there was a blending of analytics and the product management function to launch, scale, and operate live services, we believe blockchain gaming will see a similar ‘blending’ of functions.”
Fenix games wants to use the skills of its workers in game publishing Both product and product management will be included. The functions will also be rooted in product administration, but incorporate financial services capabilities, principally asset management.
Combining these disciplines is what the company refers to. game market economies. That will create the market in its simplest form. for A game or games to maximize players potential for A game. One of the key functions of the game Market economies will help scale the community before it is too late game launching.
Similar to the live operations function, which was designed to sustain an organization game post launch for years, Fenix Games Creds game In the months and years ahead, market economies will be a key part of a game launch. This activity is necessary to fill the void left by the platform owners.
“It is a bit of a roll up, but it’s also investing,” Ko.
Fenix Games The marriage of game Live operations and market economies to provide publishing Services for all game models – premium, free to play, and blockchain Gaming across all platforms
“I see a huge gap right now with various developers experimenting with game infrastructure, middleware, and more. There isn’t anyone really filling the publisher role and trying to figure out how you go to market successfully,” Ko. “By taking a publishing approach, we abstract ourselves from the technologies. We play Switzerland when it comes to technology and we mitigate risks.”
It also raises its own funds. Fenix Games will have access to allies among investors with a lot more capital — in the hundreds of millions of dollars — as well.
Ko stated that Fenix Games A publisher of next-generation games that facilitates the transition of the next billion players into a blockchain-integrated future. Web3 lacks the infrastructure and tools to support mass adoption.
As quality developers embrace this philosophy, it becomes more common. blockchain Ko stated that the company is excited about technology and design principles. for The role of publishing It will increase its value in design, go to market and operation of games.
“And what that means is that we’re not bound by a single technology, we’re not beholden to a single ecosystem,” Ko.
Ko was previously Senior Vice President of Corporate Development for Mythical Games. He has more than 20 years gaming experience. He held the general manager position at Electronic Arts and Kabam. Before that, he worked as a portfolio manager for Blackrock and an equity research analyst for JPMorgan.
Cofounders of Fenix Games Rudy Koch is the chief business officer of Mythical and was also a cofounder. Games. Koch has 15 years experience in the industry. game The industry’s most famous names: World of Warcraft, Call of Duty Skylanders, Skylanders, Skylanders and Club Penguin.
Antonio Hallack, the CIO/CTO is cofounder. Hallack was previously the global head of electronic trading for Credit Suisse. He also held the position of CTO and head of prop trading, marketmaking, as well as other senior positions in IB (Citi. Merrill. Goldman. Salomon Smith Barney. Bridgewater). Since 2017, he has been involved with crypto market management, prop trading, and market maker.
Matt Nutt, chief operating officer and cofounder at Fenix Games. He was the former chief operating officer and head games at Mythical. Games. Before joining Mythical, He was vice president and general manager of the group. for EA Mobile. Previously, he was responsible for studios at Glu Mobile. He also managed the independent studio Cie Games (and sold at Glu for $100 million in 2014), and held managerial positions at Square Enix Entertainment and Blizzard Entertainment, as well as business development roles.
“The four of us are stepping up to the company to extend the things that we’ve done from our prior lives to” blockchain gaming markets,” Ko said.
Also, happy Thanksgiving to you all.
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