Fenix Games, has raised $150m from Phoenix Group for games publishing for Web3.0, as informed by the company in an official release.
As per the release, the Dubai-based games company will use the funds to build a global team and form publishing partnerships with both traditional “Web2.0” developers in the transition to blockchain.
“We believe there is a substantial opportunity to leverage our collective experiences from Web 2.0 gaming, coupled with asset management to bring a new publishing platform for blockchain gaming by acquiring, investing in and partnering with game makers globally to launch and scale,” Chris Ko, co-founder and CEO, Fenix Games, said.
“With the transition from retail to free-to-play, we saw the democratisation of access, resulting in the addition of billions of new gamers and over $150B in revenue last year alone. With Web3.0, not only are we able to include players and creators in the value chain of games, but through blockchain-driven digital asset economies we can further enhance engagement and open up new revenue streams for developers,” Rudy Koch, co-founder, said.
The release further informed that the company is co-founded by Rudy Koch, a Mythical Games co-founder, Chris Ko and Matt Nutt, former Mythical and EA execs, and Antonio Hallak, a former Wall Street exec who headed up electronic trading and market making businesses across Credit Suisse, Citi, and other hedge funds and alt investments firms.