Former Riot Games Developers Launch New Studio, The Believer Company, to Revolutionize Multiplayer Gaming

The Believer Company, founded by veterans of Riot Games, has officially announced its presence in the gaming industry, securing $55 million in Series A funding from prominent investors such as Lightspeed, Andreessen Horowitz, and Riot Games. The studio, established in April 2022, is led by CEO Michael Chow, who previously served as vice president at Riot Games and co-founded Newtoy, the developer of Words With Friends. The Believer Company is currently working on a next-generation open-world game built around an original IP, emphasizing stories where player choices have a significant impact and gameplay systems that foster community engagement. According to Chow, the substantial funding will provide a stable foundation for the studio's creators to produce high-quality work. The core team consists of former Riot employees, with the exception of chief creative officer Jeremy Vanhoozer, who previously worked at Bungie and EA. The studio's chief product officer, Steven Snow, notes that the game is being designed with social players in mind, focusing on cooperation and an even playing field, regardless of the amount of time invested in the game. The Believer Company also plans to expand its original IP beyond gaming, exploring other media such as music, television, and film, with the support of Michael D. Eisner's Tornante Company. While some may view this approach as overly ambitious, the studio believes that exploring multiple forms of entertainment can increase the game's chances of success. With a development timeline estimated to be around three to five years, the studio is taking a staged approach, engaging with players early on and prioritizing accountability and R&D progress.