Fenix Games recently announced it had raised $150 million to create a new type of blockchain game publisher. This company will play a key role in bringing Web3 games to market through the acquisition, investment, and publishing of existing and future blockchain titles. This funding round saw participation from Phoenix Group and Cypher Capital.
“You can think of us as like a VC fund,” said Chris Ko, the co-founder of Fenix Games, in an interview with VentureBeat. “The market is similar to earlier, but it hasn’t found its Clash of Clans for blockchain games yet. We’re using the VC arm to fund the next generation of games. We’re actually going to start off with a huge base of capital to invest in those studios. We’re also looking to use our balance sheet to acquire a bunch of existing games in the Web2 space to build a portfolio. And, that will be the right base for our portfolio.”
Chris Ko, the former SVP of Corporate Development for Mythical Games, is just one of Fenix’s co-founders. The organization was also co-created by Rudy Koch (former Chief Business Officer of Mythical Games), Antonio Hallack (former Global Head of Electronic Trading at Credit Suisse), and Matt Nutt (former Chief Operating Officer of Mythical Games).