Following their departures from Legendary Video games, Rudy Koch, Chris Ko and others have introduced $150m fundraising for his or her new firm – Fenix Video games. Supported by Phoenix Group and Cypher Capital, the Web3 developer goals to harness their blockchain-based experience to create a brand new gaming franchise by funding and supporting rising startups.
Whereas the corporate is effectively conscious of the pillars of gaming that already dominate the business – these being console, on-line and cellular gaming – Fenix Video games’ founders argue that there isn’t the same sort of marketplace for blockchain video games (but).
In accordance with Ko, one of many firm’s founders, Fenix Video games will start by utilizing its capital to put money into attention-grabbing / rising F2P recreation builders, whereas additionally assessing web2 gaming alternatives. This pragmatic strategy illustrates a want from the staff to construct up a various, however sturdy portfolio throughout a time when the market is in a relative downturn.
Having a extra sensible strategy to investments additionally goes a protracted technique to present how Fenix intends to construct out a sensible instance of a blockchain video games market that may match the already established verticals.
Alongside Koch and Ko, the corporate is accomplished by Matt Nutt previously of EA, and Antonio Hallak, who beforehand labored on Wall Avenue and brings a wealth of funding data in consequence.
For extra info on Fenix Video games, go to the web site.
