Crypto Fighting Game Devs, Turnt Gaming, Receives $4.3M in Funding. Crypto and NFT gaming continue…
Finance And Funding
Finance and Funding is the act of providing resources to finance a need, program, or project. … Generally, this word is used when a firm uses its internal reserves to satisfy its necessity for cash, while the term financing is used when the firm acquires capital from external sources.
Unity has decided to go public when its arch-rival Epic is entangled in a legal battle against Apple. With 2 billion monthly active users and 1.5 million game creators, Unity is considered as a formidable competitor of Epic’s Unreal Engine. Despite the gigantic success of Unity, it hasn’t been all rainbows and sunshine for them.
Hiberworld is a fun and creative social games platform where users can create, share, and play their games. There is always something new and exciting to play on Hiber when thousands of games are being created each week. And as far as 2020 is concerned, users have developed more than 300,000 games.
Take Two, Cut! The developer of the mobile games Dots, Two Dots, and Dots & Co has reached an agreement with Take Two Interactive and now Playdot is considered acquired. The deal is concluded at $192M which Take Two Interactive will pay in $90 million cash and remaining $102 million in newly issued Take Two shares.
Tencent and Voodoo. Not a spell, an investment! When we talk about gaming empires and their expansion, Tencent is by far one of the most influential players in the gaming industry. Tencent’s expansion hasn’t stopped and it has acquired a minority share in Voodoo, a French game company. Tencent has now expanded in the domain of casual mobile gaming with the help of this deal. Though the funding amount is yet to be disclosed by the company Tencent has done it all form hefty checks to buy full control of studios like Riot Games to become a minority shareholder in Epic Games.
Tencent Holdings, according to various credible reports, wants to merge the two Chinese live streaming giants, Huya and DouYu. Resultantly, the shares of both these companies popped in response to Tencent’s idea.
Tencent Holdings, entertainment, and the tech giant has more than one-third share in both Huya and DouYu and wants to become the largest stakeholder of the combined live-streaming platform. The market capitalization of both Huya and DouYu is huge, both sitting at $5.9billion and $4.9billion respectively. And according to Reuters, if this merger happens it will also include Tencent’s e-Game streaming platform which is the fourth largest in China.
Epic Games, Epic Funding And Epic Future!
Epic Games is now valued at $17.3 billion after concluding an epic funding deal of $1.78 billion. This investment came in the form of primary capital as well as secondary purchases. To put it simply, some investors bought new shares while others bought shares from existing shareholders. Epic Games disclosed that the investment also included a strategic investment of $250 million from Sony, which was announced last month.
The investors that bought into the company are; Fidelity, fund, and accounts managed by BlackRock, Baillie Gifford, Light Speed Venture Partners, the Ontario Teacher’s Pension Plan Board, and Hedge fund manager David Tepper among others. Some of the existing backers also increased their holdings.