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Bitkraft Ventures Launches $275 Million Investment Fund
Bitkraft Ventures has introduced a new investment vehicle, allocating $275 million to support innovative gaming and interactive media companies. The Bitkraft Venture Fund 3 is set to concentrate on early-stage investments globally, targeting game development studios, platforms, and cutting-edge technologies. According to Jens Hilgers of Bitkraft Ventures, "Our enthusiasm and dedication to the…
April 3, 2024, 3:12 p.m.
News
Mika Games Emerges as New Investment Firm Founded by Wargaming's Nick Katselapov
Nick Katselapov, co-founder of Wargaming, has launched Mika Games, a new investment firm. According to VentureBeat, Mika Games secured $10 million in its initial funding round and has invested in mobile game studios Guli Games and Hot Siberians. The company aims to secure $50 million to support the mobile gaming sector. In addition to providing financial backing, Mika Games will offer develope…
April 3, 2024, 2:37 p.m.
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Unity Ends Support for Ziva Dynamics, Licenses Technology to DNEG
Unity has revealed that it will cease to sell and support Ziva Dynamics products, having entered into a licensing agreement with DNEG, a prominent VFX and animation studio. This move is part of the company's broader restructuring initiative, which involves concentrating its efforts on proprietary technologies such as the Unity Editor and Runtime, Unity Cloud, and its monetization solutions. Accor…
April 3, 2024, 1:44 p.m.
News
Lil Snack Raises $3 Million in Funding
Lil Snack, a newly established studio co-founded by Eric Berman and Travis Chen, has successfully secured $3.1 million in funding. The investment round was led by prominent firms including A16z Games Speedrun, Powerhouse Capital, Lerer Hippeau, and Waverley Capital. The founders plan to utilize the investment to further develop their groundbreaking AI-powered pop culture trivia game platform. Not…
April 3, 2024, 1:35 p.m.
News
Gearbox Entertainment Announces Staff Reductions Following Acquisition
Following its recent acquisition by Take-Two, Gearbox Entertainment has confirmed that it will be implementing a round of layoffs. The company has stated that these redundancies are not directly related to the development of upcoming games, including the highly anticipated Borderlands 4. In a statement, Gearbox Entertainment noted that the Embracer Group's restructuring efforts, which impacted ce…
April 3, 2024, 11:13 a.m.
News
Midas Games Secures $1 Million Investment
Midas Games, a mobile game development studio, has raised $1 million in a pre-seed funding round, with Ludas Ventures taking the lead. According to a report by Pocket Gamer, the investment will facilitate the development and release of the studio's inaugural titles in the latter half of 2024. CEO Selçuk Korateş emphasized the studio's commitment to delivering exceptional gaming experiences that r…
April 3, 2024, 9:19 a.m.
News
US Regulator Rejects Facial Age Estimation for Verifying Parental Consent
The US Federal Trade Commission has turned down a proposal to utilize facial age estimation technology as a means of verifying parental consent for the collection of children's data under the Children's Online Privacy Protection Act. The proposal, which was jointly submitted by the Entertainment Software Rating Board, SuperAwesome, and Yoti, sought to add this technology to the list of approved m…
April 2, 2024, 7:09 p.m.
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Atari Secures Publishing Rights for RollerCoaster Tycoon 3
Atari has acquired the publishing rights to RollerCoaster Tycoon 3 from Frontier Developments. The deal was finalized at $7 million, with $4 million paid upfront and $3 million to be paid at a later date. This acquisition makes Atari the sole publisher of all major games in the RollerCoaster Tycoon series. Originally released in 2004, RollerCoaster Tycoon 3 was developed by Frontier in partnershi…
April 2, 2024, 6:02 p.m.
News
The Future of Xbox, Gearbox, and Relic: A GI Microcast Update
The newest installment of our GI Microcast is now live, offering a concise look at the week's most significant developments. This episode delves into the ongoing discussions surrounding Xbox, including the challenges developers face in supporting the platform, as highlighted by Chris, and Phil Spencer's proposal to introduce third-party stores. Additionally, we examine the recent major studio acq…
April 2, 2024, 3:15 p.m.
News
PC and Console Gaming Sees 3% Growth in 2023, According to Newzoo
The latest report from Newzoo reveals a 2.6% increase in global consumer spending on PC and console gaming, reaching $93.5 billion in 2023. Key highlights from the report include: - The total PC and console gaming market reached $93.5 billion, representing a 2.6% year-over-year increase. - Console games, including both physical and digital copies, generated $53.1 billion in revenue, up 1.7…
April 2, 2024, 3:10 p.m.