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Yahaha Secures $40 Million in Funding for User-Generated Gaming Platform
Yahaha, a platform for user-generated games, has successfully raised an additional $40 million in a Series A+ funding round. The investment will be utilized to expand the platform and drive company growth, following its founding in 2020 and the launch of its product in early alpha in April 2022. The funding round was spearheaded by Temasek, Singapore's state-owned investment firm, and Alibaba, wi…
Nov. 15, 2022, 10 a.m.
News
Thunderful Expands Portfolio with Acquisition of Jumpship, Developer of Somerville
In a significant move, Swedish game publisher Thunderful has finalized the acquisition of UK-based indie game studio Jumpship for an undisclosed amount. The acquisition coincides with the highly anticipated launch of Somerville, Jumpship's debut title. Founded in 2017 by Chris Olsen and Dino Patti, Jumpship has been working on developing Somerville as a key IP, with Patti, formerly CEO and co-fou…
Nov. 15, 2022, 9:23 a.m.
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October Video Game Sales Mirror Last Year's Figures - NPD Report
According to the NPD Group, the total spending on video games in the US reached $4.3 billion in October 2022, remaining relatively unchanged from the previous year. The software segment experienced a 2% year-over-year increase, generating $4 billion in revenue. The month saw the launch of several notable games across various console platforms. The key findings for October 2022 include: total spen…
Nov. 14, 2022, 4:07 p.m.
News
Veteran Executive Unveils Astrid Entertainment, a New Gaming Venture
Seasoned media executive Sharon Tal Yguado has launched Astrid Entertainment, a cutting-edge game development studio. The studio has already garnered significant attention, securing a substantial 'high seven-figure pre-seed investment' from esteemed investors, including NetEase, Stardom Ventures, and Tower 26 Ventures. Initially, Astrid Entertainment will operate as a remote studio, with plans to…
Nov. 14, 2022, 2:13 p.m.
News
VR Gaming Revenue Expected to Reach $1.8 Billion by 2022
According to Newzoo's 2022 VR Games Market Report, the virtual reality gaming industry is poised to generate $1.8 billion in revenue by the end of the year. This figure is anticipated to more than double to $3.2 billion by 2024, with $2.5 billion projected for 2023, marking a significant increase from the $1.4 billion earned in 2021. The growth of the VR install base is accelerating, with an expe…
Nov. 14, 2022, 1:05 p.m.
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Scavengers Set to Cease Operations in December
The free-to-play multiplayer shooter Scavengers is scheduled to shut down by the end of the year. In a statement on the game's website, Improbable announced that the servers for Scavengers will be closed on December 16, 2022, due to a decline in the player base. According to the company, despite exploring various options to boost server population during the game's early access phase, it became a…
Nov. 14, 2022, 10:40 a.m.
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Landmark Games Secures $4.6 Million in Funding for Cooperative Game Sea of Souls
Landmark Games has successfully raised $4.6 million in its seed funding round, with plans to utilize the funds to expand its debut cooperative mobile game, Sea of Souls, and increase its studio staff to 20 members. The investment round was co-led by Project A Ventures and InReach Ventures, with additional participation from existing investors, including Moonfire Ventures, Concept Ventures, as wel…
Nov. 14, 2022, 9:57 a.m.
News
BAFTA Unveils 2022 Breakthrough Talent
The British Academy of Film and Television Arts has announced its 2022 Breakthrough participants, comprising 33 talented individuals from the UK and US, including seven rising stars in the gaming industry. These creatives, spanning film, gaming, and television, will benefit from professional growth opportunities and access to a global network, courtesy of BAFTA and supported by Netflix. The selec…
Nov. 11, 2022, 3:18 p.m.
News
God of War Ragnarok Achieves Record-Breaking Launch in Franchise History
The latest installment in the God of War series, Ragnarok, has seen a remarkably strong start in the UK market, as reported by the chart-tracking firm GfK. It is poised to become the fourth title in the series to reach the top of the UK's boxed game charts. With a total of 12 God of War games released in the UK to date, including six core titles, two portable games, and various collections and re…
Nov. 11, 2022, 3:04 p.m.
News
Krafton Sees 27% Increase in Net Profits to $171.5 Million Despite Quarterly Decline
Krafton, the Korean publisher behind the popular battle royale game PlayerUnknown's Battlegrounds, has released its financial results for the third quarter, along with announcements regarding its expansion plans. The company reported revenues of $328.5 million and a net profit of $171.5 million, representing a year-over-year increase of 27%. Key highlights include: - Revenue of 433.8 billion …
Nov. 11, 2022, 12:33 p.m.