Towards the end of March, Manticore Games, the developer and operator behind “Core”, announced it raised $100 million in series C financing. The funding was led by XN, with participation from other institutional investors such as SoftBank Vision Fund 2, and LVP. Some returning investors include Benchmark, Bitkraft’s new Opportunity Fund, Correlation Ventures, and Epic Games.
“Core has been growing rapidly and is establishing itself as the best platform for Creators as it offers not just the best game creation and publishing tools but also the best economic opportunities with 50% revenue share,” said Frederic Descamps, CEO and co-founder of Manticore Games. “This financing underscores confidence in Manticore’s vision of a Creator-built Multiverse. Core puts the power in Creators’ hands to build an endless arcade of free games for players and they’ve delivered. We are thrilled to have more resources to invest in our Creators, who we see as the engine of our growth, to ultimately build the games Multiverse and the best playground for players. Our Early Access launch on Epic Games Store next month is just the beginning.”
Manticore Games will use this investment to accelerate the growth of Core, the business’s online video game creation platform. These funds will bolster the company’s creator programs while helping develop the most advanced game creation tools of any major user-generated content (UGC) platform.
The Core multiverse of free games will soon be available for Early Access on the Epic Games store beginning on April 15th. Core already offers over 20,000 free games and has had roughly half a million projects started on the platform.
The Profit‘s Take:
The term “multiverse” is so misleading. Have we already moved beyond metaverse? Fundamentally, platforms like Manticore and Roblox etc are not new. These are distribution platforms or glorified “app stores” where developers can make games and sell them. It’s not any different than the Apple app store. That’s not to say they can’t be profitable businesses. Let’s just stop pretending that plays like Manticore are novel in any way.
(All information was provided by Business Wire)