Fenix Games is venturing into a land where no one has been before. The firm has raised $150 million in funding from investors, including Phoenix Group and Cypher Capital. The usage of funds will revolve around creating a publisher company that exclusively deals with blockchain gaming.
Future-oriented firms exist, but they struggle to prosper in a market that hasn’t yet reached its full potential. Fenix Games will be responsible for ensuring that new and old games are purchased, invested in, and launched on the right platforms once the publisher firm is founded.
In the previous few years, blockchain gaming has become a prominent player in the community. This may indicate that the industry is headed for consolidation, in which large firms buyout or provide seed money to younger firms in an effort to create a more stable market.
Fenix Games is looking to be ahead of the curve with a huge line of games in its portfolio. Blockchain games have seen situations that are volatile for them when standing alone. With partners on the list, there is a higher chance that the offering for blockchain gaming will be stronger. Players will have a wide variety of games to choose from, making it easy for them to shift to another virtual world quickly.
A lot is still to be done, even though blockchain games are moving ahead with the next generation. Chris Ko, the Chief Executive Officer and Co-Founder of Fenix Games, believes that the industry is yet to find its Clash of Clans. Meanwhile, Ko has committed that Fenix will continue using its VC arm to fund the upcoming blockchain games.
When it comes to acquiring Web2 games, Fenix can be expected to move quickly with its capital investment.
The gaming segment is not something that has just emerged out of the blue. For instance, consoles are dominated by Microsoft, Sony, and Nintendo, while mobile devices are dominated by Apple and Google. It is now up to the blockchain games to create their own market, with no big names present to make it happen.
Chris Ko mentioned that there is a lack of support, tools, and infrastructure for blockchain games. He then emphasized that publishing will play a huge role in elevating the category in the gaming ecosystem.
Blockchain gaming may serve comparable functions to mobile gaming. It has been suggested that the way mobile devices have integrated analytics and product management capabilities to launch, scale, and operate services may be mirrored in blockchain gaming.
The rise of Fenix Games was predictable, given that infrastructure and middleware experiments are being done without respect for how the content will be delivered. The initiative’s funding will help it narrow this gap, allowing developers to continue forward with their projects and players to enjoy a new era of gaming.