Gaming

The Sandbox, a decentralized gaming virtual world and subsidiary of Hong Kong-based Animoca Brands, has announced its collaboration with Softstar Entertainment Inc. (Softstar), an iconic Taiwanese brand of classic personal computer (PC) games.

Animoca Brands, the Hong Kong-based blockchain gaming firm, announced Friday it will acquire WePlay Media Holdings LLC, the sole shareholder of XXL Racing LLC, an official licensee of MotoG™ , and WePlay Media LLC, the developer of the highly popular MotoGP™ Championship Quest.

The company’s main objective for the next 12 to 18 months is to achieve positive cash flow as soon as possible.

Game streaming is leading the charge of the recent proliferation of online content. An amalgamation of gaming and live streaming, the industry’s meteoric rise has been driven by the captivating nature of gaming itself – where its audio-visual simulation excites game streamers and audiences who wish to live vicariously through them. 

Animoca Brands Corporation Limited, the Hong Kong-based company advancing digital property rights for the open metaverse, announced Thursday that it has closed a strategic funding round for $110 million led by Temasek, Boyu Capital, GGV Capital.

ITSBLOC, a South Korea-based web 3.0 game platform, announced Wednesday that it successfully closed $7.5 million in an investment round. In particular, in institutional investment round, a total of eight institutions including Vista Labs, Nexus one, Edimus Capital, Atlas Capital, Bull&Bear, and three other institutions participated.

Mason Games Sdn. Bhd., a mobile game development studio announced Thursday that it has been acquired by Iglobsys Technology Sdn. Bhd for $1 million. The acquisition, which took place one year after the establishment of Mason Games in July 2021, is to bolster the studio’s growth in various areas including embarking on their maiden blockchain game project.

Chinese multinational technology and entertainment conglomerate Tencent has increased its stake in French gaming firm Ubisoft to 9.99 percent from 4.5 percent. Tencent is paying €300 million ($297.19 million), including €200 million ($198.13 million) share acquisition and €100 million ($99.06 million) capital increase, to Guillemot Brothers for 49.9 percent…

Soon, AI will assist game developers in creating realistic worlds that don’t cost as much as a Hollywood blockbuster. For instance, it can take dozens of hours for a game artist to create a single building or vehicle, costing thousands of dollars.

Hong Kong-based Tencent Holdings Limited and Japan-based Sony Group Corporation have acquired 30.34 percent stake in Japanese game developer FromSoftware for 36.4 billion yen ($259.48 million).