5 X 5 GAMING SECURES FUNDING TO BRING MULTICULTURAL CORE GAMES TO GLOBAL MARKET

STARTUP STUDIO BY TOPPS, ZYNGA AND MACHINE ZONE VETERAN CLOSES SEED FUNDING BACKED BY Com2uS, HARMONY, AND CO-FOUNDERS OF THE SANDBOX AND YGG

5x5 Gaming today announced a seed round of $1.7 million - to build core games with a multicultural viewpoint, and that are made with digital collectibles and competitive and social gaming experiences baked in from the ground up. The investment in the global development team comes from multiple investors, including Com2uS, Harmony, and the cofounders of The Sandbox and YGG.

Battle of Kingdoms key art

The company's first game, Battle of Kingdoms , will celebrate and honor a number of cultures from around the world, and allow players to play, collect and digitally own (via NFTs) historical warriors and soldiers from different cultures. The company is consulting with historians and local experts to ensure proper representation for all characters and nations.

"5x5 is a unique gaming studio that has both extensive experience in free-to-play game development as well as digital blockchain collectibles, and we are very excited to support them early in their journey with this seed investment," said Kyu Lee , president, Com2uS.

"We are a big believer in true digital asset ownership and the benefits that blockchain technology brings to us as game designers and developers. Having said that, we wanted to create an experience where having fun, quality content, making social connections, and competition are the focal points for our players; not the farmability of our game economy as you see in many early 'crypto gaming projects,'" said Deniz Gezgin , founder and CEO, 5x5 Gaming. "We believe there are better ways to incorporate play-to-earn flows, blockchain and crypto technologies into games, and our experience with both game development and digital collectibles will help establish 5x5 Gaming as a gameplay-focused developer with multiple titles created with this vision and strategy."

Gezgin brings a broad range of experience to lead 5x5 Gaming. A former teen Turkish athletics national team member, Gezgin worked his way through college and postgrad, and has held leadership and strategic positions in game development as well as digital collectibles, including leading the digital division of Topps.

5x5 Gaming is headquartered in San Francisco , but has employees in Los Angeles , Chicago , Mexico , Vietnam , India and Turkey .

"With this investment from our partners, 5x5 Gaming is building a team without borders; talent and inspiration can be found everywhere," said Gezgin. "Our growing team is spread around the world; we look at diversity as part of our strategy and believe that with a team of different backgrounds and cultures we can create gaming experiences that are more fully culturalized."

"We are excited to work with 5x5 Gaming under Deniz's leadership," said Stephen Tse , founder and CEO, Harmony. "His background in gaming and collectibles are a perfect combination and coming at the perfect time. There is a perfect storm of technology, culture, NFTs, and blockchain, and 5x5 Gaming is in a perfect spot to contribute to this exciting space. Harmony is proud to be working with Deniz and team to explore what's possible in this new and open gaming, gamefi design space."

"With millions onboarding to NFT games, Web3 infrastructure is lowering barriers to participation and making it possible for players from all around the world to become part-owners in a better, more inclusive digital economy," said Gabby Dizon, cofounder, Yield Guild Games (YGG). "5x5 Gaming is helping to ensure that we see strong diversity in the representation of people and communities in the open Metaverse, which is why I am proud to be personally backing Deniz and his team."

"I am pleased to support Deniz and his team of game industry veterans on their journey into Web3 as they build their first play-to-earn games and embrace the NFT culture," said Sebastien Borget , COO and cofounder, The Sandbox. "Our industry needs a broader variety of games to attract a wider audience, and 5x5 Gaming has the right mindset to build games that will achieve this."

Additional 5x5 Gaming investors include Dialectic Capital and Lucid Blue Ventures, and the advisory team includes gaming and digital media veterans Ed Lu , Michael Vorhaus and Andrew Chan .

About 5x5 Gaming:
5X5 Gaming is an early-stage, cross-platform gaming company that focuses on building AAA, quality games with an element of digital ownership. The company's mission is to evolve gaming using the latest technologies to build trust, safety, and true digital asset ownership to unlock the best gaming experience.

MEDIA CONTACT:
Zebra Partners
5x5gaming_media@zebrapartners.net

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/5-x-5-gaming-secures-funding-to-bring-multicultural-core-games-to-global-market-301530309.html

SOURCE 5X5 Gaming

News Provided by PR Newswire via QuoteMedia

GAMING00
The Conversation (0)
East Side Games

The Office: Somehow We Manage Mobile Game Available Now

East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.

Watch the launch trailer here .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
hand touching phone

Game-changing Prospects for the iGaming Market

iGaming has grown considerably in recent years. Driven by innovations in web technology and a changing regulatory landscape, online casinos and sportsbooks are more popular than ever.

To understand how the landscape may change moving forward, investors should assess how the industry has evolved in recent years.

Keep reading...Show less
smartphone on podium

Top Trends Shaping the Canadian iGaming Market

From emerging technologies to evolving regulations, the trajectory of iGaming has changed substantially in recent years as the market has experienced significant growth.

In 2022, Ontario's provincial government introduced game-changing legislation that established a regulatory framework for iGaming. Due to this legislation, regulated iGaming successfully displaced the unregulated market, according to Attorney General Doug Downey, creating over 1.6 million active player accounts across more than 70 operator websites as of April 2023 — just over one year following the change.

Ontario's regulation has also laid the groundwork for widespread change in the iGaming space across Canada. As iGaming continues to evolve, it's important to have a deeper understanding of both new and existing trends that will shape the industry's future, as well as regulations.

Keep reading...Show less
NorthStar Gaming Holdings

NorthStar Gaming Holdings


Keep reading...Show less
NorthStar Gaming Announces New Partnership Agreement with BettorView

NorthStar Gaming Announces New Partnership Agreement with BettorView

Partnership strategically positions NorthStar to reach consumers in restaurants and bars across Ontario

NorthStar Gaming Inc. (TSXV: BET) is proud to announce it has entered a partnership agreement with BettorView that will enable NorthStar to engage with consumers in restaurants and bars across Ontario. The partnership provides NorthStar with the opportunity to further expand player acquisition across both sports wagering and online casino in a frictionless and convenient manner.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
NorthStar Gaming Reports Triple-Digit Growth in Wagers and Revenue in Q3 2023

NorthStar Gaming Reports Triple-Digit Growth in Wagers and Revenue in Q3 2023

Strong year-over-year performance sets the stage for further growth

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar" or the "Company") today released its financial results for the three- and nine-month periods ended September 30, 2023. All dollar figures are quoted in Canadian dollars.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×