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 nicely conscious of the pillars of gaming that already dominate the trade – these being console, on-line and cell gaming – Fenix Video games’ founders argue that there isn’t an identical sort of marketplace for blockchain video games (but).
In response to Ko, one of many firm’s founders, Fenix Video games will start by utilizing its capital to spend money on attention-grabbing / rising F2P recreation builders, whereas additionally assessing web2 gaming alternatives. This pragmatic strategy illustrates a want from the workforce 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 an extended approach 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 Road and brings a wealth of funding data consequently.
For extra data on Fenix Video games, go to the web site.