Fenix ​​Games has raised $150 million to publish blockchain games

Fenix ​​Games has raised $150 million to publish blockchain games

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Phoenix Games It raised $150 million to create a new kind of publisher for blockchain games.

The idea is to create a publisher company and platform that will play a major role in bringing blockchain games to the market. Fenix ​​Games plans to acquire, monetize and publish existing games and future blockchain games.

Investors include the Phoenix Group and Cypher Capital. The new company suggests that blockchain gaming — which has seen a kind of Cambrian explosion in the past couple of years — is moving towards consolidation as the big companies will emerge by acquiring or financing all the powerful startups. In other words, Fenix ​​Games hopes to be well-positioned to pull a lot of companies together into one solid company with a large portfolio – one that can weather the current slump in blockchain games.

“You can think of us like a venture capital fund,” Chris Coe, CEO and co-founder of Fenix ​​Games, said in an interview with GamesBeat. The market is the same as before [mobile gaming at the rise of free-to-play games] But it hasn’t found Clash of Clans for blockchain gaming yet. We are using our venture capital arm to fund the next generation of games. We’re really going to start with a huge capital base to invest in those studios. We’re also looking to use our balance sheet to get a handful of games out there in the Web2 space to build a portfolio. This will be the right base for our portfolio.”

Chris Kuo is the CEO of Fenix ​​Games.

Historically, the gaming industry has had participants that provide a marketplace or platform for both
gamers and game developers. In consoles, the platforms included Sony, Microsoft, and Nintendo. And in mobile devices, the two platforms are Apple and Google.

Either way, an entire marketplace was created and led to an ecosystem that allows content to be consumed. However, for blockchain games, this market does not exist at present, Ku said. The company was started by a group of industry veterans from the gaming, blockchain and financial markets.

“We plan to purchase, invest in, publish and operate games and studios in select states,” Kuo said. “We will have a few hundred million to deploy to implement our strategy.”

Chains presents a similar potential platform to previous gaming cycles, Kuo said, but at this point, it doesn’t appear to be focused on building a market for gamers.

“We think this is temporary because the primary applications on the chain will be gaming,” Kuo said. “The infrastructure, tools and support are non-existent. We believe there is an opportunity for publishing houses to raise their role in the gaming environment.”

Matt Nutt is COO of Fenix ​​Games.

More experienced game developers are moving to expand into blockchain games, particularly in the wake of Apple’s push for privacy in mobile games. But Fenix ​​Games believes that a very narrow set of games are being developed so far for blockchain platforms.

“We believe there is a structural gap — we aim to bridge that gap with a redefined publishing suite that takes advantage of some of the traditional publishing functions, but with a new functionality,” said Kuo. “Just as there was a mix of analytics and product management functionality in free-to-play mobile games to launch, scale and operate live services, we believe blockchain games will see a similar ‘blend’ of functionality.”

Fenix ​​Games wants to combine the skills of its staff in game publishing and product management as well as the jobs will be rooted in product management, but take specializations and abilities from financial services, primarily asset management.

The combination of these disciplines is what the company calls the economics of the gaming market. In its simplest terms, this will create a market for the game or games to increase the number of potential players for the game. The main function of game market economics is to expand the community before a game is released.

Antonio Hallack is Fenix ​​Games Co-Founder, Chief Information Officer and Chief Technical Officer.

Similar to the direct operations function created to sustain a game years after its release, Fenix ​​Games believes that the economics of the game market will play a vital role in the months and even years leading up to a game’s launch. This activity is required to fill the gap in what the platform owners have been filling.

“It’s kind of a show, but it’s also an investment,” Ko said.

Fenix ​​Games will focus on marrying game market economies and live operations to provide publishing services for all game models – premium, free-to-play and blockchain games across all platforms.

“I see a huge gap now with so many developers testing game infrastructure, middleware, and more. There’s no one really taking on the publisher role and trying to figure out how it’s going to go to market successfully,” Kuo said. “By taking a publishing approach, we separate ourselves from technologies . We’re playing against Switzerland when it comes to technology and we’re mitigating the risks.”

In addition to raising its own funds, Fenix ​​Games will be able to reach allies among investors with much larger capital – in the hundreds of millions of dollars – as well.

Kuo said that Fenix ​​Games is a next-generation game publisher facilitating the transition of the next billion players into a blockchain-integrated future. While traditional Web2 games have mature distribution platforms and markets that bring billions of gamers and developers together, Web3 lacks the infrastructure, tools, and support to facilitate mass adoption.

As more and more quality developers embrace blockchain technology and design principles, Kuo said the company sees an opportunity for publishing houses to raise their value in design, go-to-market, and game operations.

“And what that means is that we are not bound by one technology, we are not beholden to one ecosystem,” Kuo said.

Koo was previously Senior Vice President of Corporate Development at Mythical Games. He has nearly 20 years of gaming experience, and has held general manager positions at Electronic Arts and Kabam. Prior to that, he was a portfolio manager at Blackrock and an equity research analyst at JPMorgan.

Other Fenix ​​Games founders include Rudy Koch, chief business officer and co-founder of Mythical Games. Koch has 15 years of experience developing games on the biggest names in the industry: Club Penguin, Call of Duty, Skylanders and World of Warcraft.

Rudy Koch is the Chief Business Development Officer of Fenix ​​Games.

Antonio Hallack is CIO/CTO and Co-Founder. Hallack previously served as Global Head of E-Commerce at Credit Suisse; Head of Merchandising, Market Making, Chief Technology Officer, and other senior IB roles (Citi, Merrill, Goldman, Salomon Smith Barney, Bridgewater, etc.). He has been involved in pillar trading, market maker and asset management in crypto markets since 2017.

Matt Nutt is Chief Operating Officer and Co-Founder of Fenix ​​Games. He was previously COO and Head of Games at Mythical Games. Prior to joining Mythical, he was Group Vice President and General Manager of EA Mobile. He previously oversaw the studios at Glu Mobile, managed the independent Cie Games studios (and sold to Glu for $100 million in 2014), and has held management positions at Blizzard Entertainment and Square Enix, in business development positions.

“The four of us are applying to the company to extend the things we did from our past lives into the ‘blockchain game markets,’” Kuo said.

And happy thanks to all of you.

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