Fenix Games raises $150M to fuel next-generation blockchain gaming

Fenix Games raises 0M to fuel next-generation blockchain gaming

Chris Ko, CEO, and co-founder of Fenix​​Games views Fenix​​Games “as a venture capital fund” to power the next generation of blockchain games. Web3 games publisher Fenix ​​​​​​Games has raised $150 million in funding to acquire, invest, and distribute blockchain. Games. The fund will be used to launch a game publisher specifically for blockchain game integration. Investors, including Phoenix Group and a Dubai-based venture capital firm, attended the latest round of funding for Fenix ​​Games. 

 Cypher Capital, local news outlet Jinse reported. Chris Ko, CEO, and co-founder of Fenix ​​Games, who previously ran Mythical Games, see Fenix ​​Games “as a venture capital fund” to power the next generation of blockchain games.

Ko shared the following information about the post-funding strategy:

We will start with a large capital base to invest in these studios (next-gen games).” We also intend to use our balance sheet to acquire several existing Web2 games to shape a portfolio.

Ko also emphasized that the market for blockchain games exists differently than traditional video games, such as gaming consoles and mobile games. Fenix ​​Games’ future strategy is to develop the gaming ecosystem through publishing initiatives.

According to Jack O’Holleran, CEO of Skale, an Ethereum-native multi-chain network that powers Web3 games, GameFi’s ever-changing model could “make today’s AAA gaming companies look like peanuts.” On the other hand, finding a viable GameFi model remains a challenge. Due to high gas fees and technical complexities, significant industries need help to buy, hold and trade non-fungible tokens (NFTs).

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