Gaming

MindArk and Epic Games have finalized a deal to use Unreal Engine 5™ for the development of Entropia Universe, the world's longest-running metaverse. Entropia Universe's unique real-cash economy, combined with Unreal Engine 5's amazing graphics and development tools will keep Entropia Universe positioned as the true metaverse of the future, says Henrik Nel CEO of MindArk PE AB.

MindArk is the Sweden -based developer of Entropia Universe, the groundbreaking and world record-setting real-cash economy MMORPG (Massively Multiplayer Online Role Playing Game), running continuously since 2003.

The partnership with Epic Games will enable MindArk to leverage Unreal Engine 5 as a powerful platform for the future development of Entropia Universe. Entropia Universe's real-cash economy had over $450 million in transactions in 2020.Migrating to Unreal Engine 5 will be the third graphics engine update in the astonishing 20-year history of Entropia Universe.

Unreal Engine 5 will allow MindArk's team to significantly improve and optimize the graphics quality of Entropia Universe, deliver high-quality content updates to participants more quickly, and offer the possibility of creating Entropia Universe clients for a wider array of platforms in the future.

The Unreal Engine 5 platform enables MindArk to secure the future of Entropia Universe as a bleeding-edge virtual world destination for many years to come and to continue to pioneer development of the world's leading real-cash economy MMORPG.

– We have been working closely with Epic Games to finalize the special agreement between our two companies, and the deal ensures availability of the latest cutting-edge graphics and development tools that will enable Entropia Universe to continue pushing the boundaries of the open world massively multiplayer online genre, says David Simmonds , Chairman of MindArk PE AB.

The Epic Games Store currently boasts more than 160 million PC gamers. The console market, with over 143 million current-generation consoles sold to date, along with the worldwide mobile market of 2.2 billion gamers represent vast new market segments that can potentially be tapped via Unreal Engine 5.

The global games industry revenue for 2020 was $174.9 billion according to Newzoo ( October 2020 ), and is expected to reach $196 billion by 2022.

About MindArk PE AB

MindArk is an independent game development company dedicated to establishing the metaverse of the future by converging online games, virtual worlds, and social platforms. The company is based in Gothenburg, Sweden , and has approximately 60 employees.

MindArk is best known for developing and continuously updating the award-winning

massively-multiplayer online game Entropia Universe. Building on nearly two decades of experience in managing virtual worlds, MindArk continues to expand its technology and development into the virtual reality space.

More information about MindArk can be found at https://www.mindark.com

About Entropia Universe

Entropia Universe is one of the world's leading open-world games, with over four million registered accounts since its launch in 2003. In the game's virtual world, participants create a digital avatar and engage in a multitude of virtual activities. Entropia Universe is one of only a few online worlds featuring a trading system with currency that can be exchanged for real-world money.

MindArk has also forged partnerships with multiple companies around the world who each develop custom content for Entropia Universe, in the form of distinct planets with unique themes and market their planets to specific audiences in Asia , Oceania, the Middle East and North America . Each partner planet features a unique experience that is accessible to participants via space travel within Entropia Universe.

About Unreal Engine

See information about Unreal Engine at https://www.unrealengine.com/en-US/nextgen

CONTACT:
Mathias Gustavsson
Marketing Manager
+46 (0)735152535
mathias.gustavsson@mindark.com

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SOURCE MindArk

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FaZe Holdings Inc. Reports Second Quarter 2022 Financial Results

FaZe Holdings Inc. (Nasdaq: FAZE) ("FaZe" or the "Company"), the lifestyle and media platform rooted in gaming and youth culture, today filed its financial results for the second quarter ended June 30, 2022 with the SEC. Summary financial results are included with this press release.

FaZe Clan Logo (PRNewsfoto/FaZe Clan)

Recent Business Highlights

  • Strong momentum with second quarter sales of $18.8 million , an increase of 22% year-over-year and a new quarterly record
  • Listed on Nasdaq under the symbol FAZE through a SPAC deal raising $57.8 million in net proceeds
  • Appointed Zach Katz to new role of President and Chief Operating Officer
  • Launched "FaZe Subs" ghost kitchen brand in partnership with DoorDash
  • Welcomed new members FaZe Deestroying, FaZe Ronaldo, FaZe Proze and FaZe Shanks to FaZe Clan; their combined total social media following exceeds 18 million
  • Announced '1ON1' series with the National Football League ("NFL"), featuring FaZe Deestroying taking his multi-stage competitions to several cities during NFL preseason
  • Introduced FaZe Clan Buffalo Chicken flavor Pizza Rolls with Totino's
  • Expanded into gaming products in collaboration with Ducky and released merchandise collaborations with Disney, Naruto Shippuden and Lyrical Lemonade
  • Announced new partnerships with GHOST, Current and RESPAWN
  • Launched first-of-its-kind reality competition FaZe1 with over 750 million impressions across platforms and over 39 million minutes watched for FaZe1: The Warehouse and Road to FaZe1
  • The FaZe Clan Counter-Strike: Global Offensive team won the PGL Antwerp Major, IEM Cologne, IEM Katowice, and ESL Pro League Season 15 all within the first half of the year – winning millions of dollars in cash and prizes

"With our entry into the public markets now behind us, FaZe is focused on monetizing across our four verticals: sponsorships, content, merchandise and esports," said Lee Trink, Chief Executive Officer of FaZe Clan. "We are building business momentum into the second half of the year and we are working to launch new business initiatives, particularly in the creator economy and Web3."

Second Quarter Financial Results
Revenues for the second quarter were $18.8 million , an increase of 22% from the prior-year second quarter and up 19% from $15.8 million in the 2022 first quarter. The increase in revenue was primarily driven by effective scaling and growth of our business through our various revenue streams, chiefly brand sponsorships and esports. FaZe reported an Adjusted EBITDA loss of ($4.1) million in the second quarter, compared with ($6.2) million in the year-ago second quarter. 1 Adjusted EBITDA loss reflects Company investments in leadership personnel and marketing costs to drive its growth strategy.

On July 19, 2022 , FaZe completed its merger with B. Riley Principal Merger Corp. and became a publicly traded company. FaZe received aggregate net proceeds of $57.8 million in the transaction and as of that date had $61 million in cash on its balance sheet. The Company has no long-term debt obligations.

1 Adjusted EBITDA is a non-GAAP financial measure. See "Non-GAAP Reconciliation" for our definition of, and additional information about, Adjusted EBITDA and for reconciliation to net loss, the most directly comparable U.S. GAAP financial measure.

Earnings Webcast Information
FaZe Holdings Inc will host a webcast and Q&A session today at 2:00 p.m. Pacific Time to discuss the Company's second quarter financial results. The webcast of the conference call can be accessed as follows:

Event: FaZe Holdings Inc Second Quarter 2022 Earnings Conference Call
Date: Monday, August 15, 2022
Time: 2:00 p.m. Pacific Time ( 5:00 p.m. Eastern Time )
Webcast: https://events.q4inc.com/attendee/243466355
Toll Free Dial-In: 1 (888) 440-6928
Toll Dial-In: 1 (646) 960-0328
Dial-In Conference ID: 1341513

An archived webcast of the conference call will also be accessible on FaZe Holdings Inc.'s Investor Relations page, https://investor.fazeclan.com .

About FaZe Holdings Inc:
FaZe Holdings Inc. (Nasdaq: FAZE) is a digital-native lifestyle and media platform rooted in gaming and youth culture, reimagining traditional entertainment for the next generation. Founded in 2010 by a group of kids on the internet, FaZe Clan was created for and by Gen Z and Millennials, and today operates across multiple verticals with transformative content, tier-one brand partnerships, a collective of notable talent, and fashion and consumer products. Reaching over 500 million followers across social platforms globally, FaZe Clan delivers a wide variety of entertainment spanning video blogs, lifestyle and branded content, gaming highlights and live streams of highly competitive gaming tournaments. FaZe Clan's roster of more than 85 influential personalities consists of engaging content creators, esports professionals, world-class gamers and a mix of talent who go beyond the world of gaming, including NFL star Kyler "FaZe K1" Murray, Lebron "FaZe Bronny" James Jr., Lil Yachty aka "FaZe Boat," Offset aka "FaZe Offset" and Snoop Dogg aka "FaZe Snoop." Its gaming division includes 11 competitive esports teams who have won 35 world championships. For more information, visit www.fazeclan.com , investor.fazeclan.com and follow FaZe Clan on Twitter, Instagram, YouTube, TikTok, and Twitch. The content of any website referenced or hyperlinked in this communication is neither incorporated into, nor part of, this communication.

FORWARD LOOKING STATEMENTS:
The information in this communication includes "forward-looking statements" pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included in this communication, regarding the company's strategy, future operations and financial performance, estimated financial position, estimated revenue and losses, projections of market opportunity and market share, projected costs, prospects, plans and objectives of management are forward-looking statements. These forward-looking statements generally are identified by the words "budget," "could," "forecast," "future," "might," "outlook," "plan," "possible," "potential," "predict," "project," "seem," "seek," "strive," "would," "should," "may," "believe," "intend," "expects," "will," "projected," "continue," "increase," and/or similar expressions that concern strategy, plans or intentions, but the absence of these words does not mean that a statement is not forward-looking. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on the management's belief or interpretation of information currently available.

These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of management and are not predictions of actual performance. Because forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, whether or not identified in this communication, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Many factors could cause actual results and condition (financial or otherwise) to differ materially from those indicated in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the company. Forward-looking statements speak only as of the date they are made. While FaZe Clan may elect to update these forward-looking statements at some point in the future, FaZe Clan specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing FaZe Clan's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

CONTACTS
Investors
ir@fazeclan.com

Media
chelsey.northern@fazeclan.com

NON-GAAP RECONCILIATION

This earnings release includes adjusted EBITDA, which is a non-GAAP measure that we use to supplement our results presented in accordance with U.S. GAAP. Adjusted EBITDA is defined as net loss before share-based compensation expense, exited activities expense, foreign currency gains and losses, interest expense, provision for income taxes, depreciation and amortization, and impairment of content assets. Adjusted EBITDA is used by the FaZe board and management as a key factor in determining the quality of our earnings (loss).

Adjusted EBITDA is a performance measure that we believe is useful to investors and analysts because it illustrates the underlying financial and business trends relating to our core, recurring results of operations and enhances comparability between periods.

Adjusted EBITDA is not a recognized measure under U.S. GAAP and is not intended to be a substitute for any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.Investors should exercise caution in comparing our non-GAAP measure to any similarly titled measure used by other companies. This non-GAAP measure excludes certain items required by U.S. GAAP and should not be considered as alternatives to information reported in accordance with U.S. GAAP.

The table below presents our adjusted EBITDA, reconciled to our net loss, the most directly comparable U.S. GAAP financial measure, for the periods indicated.


Three months ended


June 30,

(in thousands)

2022

2021

Net Loss

$(9,323)

$(7,633)

Adjusted for:



Share-based compensation expense

1,509

-

Foreign exchange loss

-

-

Interest expense

2,181

1,214

Provision for income tax

-

-

Impairment of content assets

1,073

-

Depreciation and amortization

427

212

Adjusted EBITDA

$(4,133)

$(6,207)

While not included in the adjustments above, management also removes certain expenses for internal reporting purposes, as they are unpredictable and not considered core to our operations. These expense adjustments that are utilized for internal reporting purposes include expenses related to legal settlements, legal fees outside of the ordinary course of business, and severance. For the three months ended June 30, 2022 , and 2021, legal settlements totaled $0 million and $0 million , legal fees outside of the ordinary course of business totaled $0 million and $0.7 million , and severance expenses totaled $0 million and $0.1 million , respectively.

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SOURCE FaZe Clan

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World of Outlaws: Dirt Racing Brings "The Greatest Show on Dirt" to PlayStation, Xbox Consoles in September 2022

Pre-orders begin August 15 featuring World of Outlaws legend Sammy Swindell ; base game and Gold Edition available

The World of Outlaws returns to console gaming for the first time in over a decade on September 27 as World of Outlaws: Dirt Racing hits the PlayStation 4, PlayStation 5, Xbox One, and Xbox Series X|S. The official game of "The Greatest Show on Dirt" features six different dirt series, from the premier World of Outlaws NOS Energy Sprint Cars and CASE Construction Equipment Late Models to four DIRTcar classes, and more than 40 tracks, including Eldora Speedway, Knoxville Raceway, and Volusia Speedway Park. Pre-orders open on August 15 at worldofoutlawsgame.com with three-time World of Outlaws Sprint Car champion Sammy Swindell included as a special bonus for pre-orders only.

World of Outlaws: Dirt Racing is the latest dirt racing-themed title from developer Monster Games, but its first since being acquired by iRacing in late 2021. The new title takes the established Monster Games platform to a new level, with the addition of car and track models, sounds, and multiplayer technology from iRacing to elevate the authenticity and gameplay experience. All-new physics, also tuned by iRacing, and a retooled, more competitive AI add to the challenge, with real-world driver feedback held at a premium throughout the development process.

"We're thrilled to bring World of Outlaws back to console gaming with World of Outlaws: Dirt Racing ," said Monster Games founder and general manager Rich Garcia . "With the addition of iRacing resources to the established Monster platform, as well as the support of World of Outlaws, this is the most realistic, challenging, and most importantly, fun dirt racing experience ever seen on the PlayStation or Xbox. We can't wait for dirt racing fans to go wheel-to-wheel at Eldora, Knoxville, and more this fall!"

"Many of our fans have been asking for a World of Outlaws console game, and now through our partnership with iRacing we're able to deliver," World of Outlaws CEO Brian Carter said. "Whether it's PlayStation or Xbox, fans can race against World of Outlaws drivers in the most realistic game available. The team at iRacing and Monster Games has really developed an authentic option to see what it's like to race on dirt against the best in the business."

For those looking to chart a unique course through the world of dirt racing, World of Outlaws: Dirt Racing is infinitely customizable, with no shortage of fun to be had for players of all backgrounds. The all-new Career Mode structure sees drivers start as a local rookie, working hard to upgrade their equipment and become more competitive as they look to advance to the national World of Outlaws tours. Drivers can race any vehicle available to them in Career Mode at any time, and with an all-new Car Creator that includes more layers and shapes, can bring just about any design imaginable to the track.

No matter your dirt racing car or track preference, World of Outlaws: Dirt Racing has you covered. Sprint car racers can do battle in the 305, 360, and World of Outlaws 410 Sprint Car divisions, while World of Outlaws Super Late Models, Pro Late Models, and Street Stocks are available for those who prefer fenders. Alongside the 13 licensed tracks that will appear in the game, the remaining tracks pay homage to the soul of dirt racing in America with various lengths, layouts, and locales.

Three-time World of Outlaws NOS Energy Sprint Car Series champion Brad Sweet and 2015 CASE Late Model Series champion Shane Clanton adorn the cover, and the duo headlines a list of real-world drivers who are both playable in single-player modes and appear as opponents in Career Mode. Those who pre-order World of Outlaws: Dirt Racing will also unlock Sammy Swindell , winner of three World of Outlaws Sprint Car championships and nearly 400 Sprint Car Features in his illustrious career.

World of Outlaws: Dirt Racing will retail for $49.99 , while the Gold Edition will be available for $69.99 . The Gold Edition features all additional downloadable content for the remainder of calendar year 2022, a $35 value; 2022 DLC items will include Limaland Motorsports Park, Federated Auto Parts Raceway at I-55, and Lucas Oil Speedway, as well as two additional DIRTcar classes, UMP Modifieds and Super DIRTcar Big Block Modifieds. For those who purchase the base game, a Season Pass for downloadable content will be available for $29.99 .

For more information about World of Outlaws: Dirt Racing and to pre-order the game starting on August 15 , visit worldofoutlawsgame.com . For more information about the World of Outlaws, visit worldofoutlaws.com . For more information about iRacing and for special offers, visit iRacing.com .

Copyright and trademark info:
Copyright 2022 iRacing.com Motorsport Simulations, LLC

Additional license terms:
World of Outlaws is a registered trademark of World Racing Group, LLC. All car images, driver names and likenesses, corporate trademarks and other intellectual properties are used under license from their respective owners.

Pre Order World of Outlaws Dirt Game Now

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SOURCE iRacing.com Motorsport Simulations

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"Gamers for CHOC" Invites Gaming Community to Support Children's Hospital of Orange County's "Adventure in the Park"

Supporters who raise $200 or more will enjoy Private Event on August 27, 2022 at Disney California Adventure ® Park, Presented by Disneyland ® Resort

Gamers for CHOC, an initiative that rallies employees, players, and communities from local games-related studios, businesses, and groups, is back for its second year to support Children's Hospital of Orange County . The program raised nearly $200,000 in 2021, contributing to health care programs, education, and research for southern California's kids.

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AI Gaming and Esports Startup Regression Games Raises $4.2M in Seed Funding from NEA and a16z

Regression Games, the AI gaming and esports company, today announced it has closed $4.2M in seed funding led by New Enterprise Associates (NEA) with participation from Andreesen Horowitz (a16z), BBQ Capital, Roosh Ventures, and various angel investors to bring the power of artificial intelligence (AI) to gaming and esports. Regression Games plans to use the new capital to grow their engineering team and accelerate the development of their initial platform to test AI-driven gaming, in partnership with existing games and game studios.

Regression Games is building the platform and ecosystem to make AI gaming and esports accessible and enjoyable for everyone. The platform will enable players to write code and AIs that control characters, debug strategies in real-time, compete for prizes in tournaments and top spots on leaderboards, and collaborate with friends to build the best bots possible. Rather than traditional game playing where players utilize a controller or mouse and keyboard, Regression Games users will program algorithms and machine learning models to battle others. The AI platform will be made to integrate with both existing games and original games developed by Regression Games. With more than 3.2 billion gamers around the world, 175 US collegiate esport programs, and over 47% of US high schools teaching computer science, this intersection of gaming and coding is poised to grow over the years to come. By 2028, the video game industry is estimated to be worth over $435bn , as well as an estimated 45 million coders by 2030.

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Ex Populus, the Web3 Game Studio, Join Forces With Deeze and Farokh, NFT Thought Leaders

Ex Populus, the Web3 game developer, has announced the addition of two prominent creators in the NFT space, Deeze and Farokh, as key members of the Ex Populus advisory board. DeezFi and Farokh have both been long-time collaborators with Ex Populus co-founder Soban Saqib (@Sobylife) and have kept a close eye on Ex Populus developments over the past year.

Farokh, Deeze, Soby

"I'm excited to help Ex Populus become the best Web3 game developer possible. We've been talking closely throughout the last year of building and I've been impressed. Tobias, Soby, and the rest of the team have a grand vision for the space and the team to pull it off. I believe gaming + social applications are what will bring the next 10,000,000+ people to the web3 space and I'm stoked to help in this mission," said Deeze, Director of Vibes at Fractional

Farokh and Deeze will provide additional guidance and insight to the Ex Populus team on all of their projects moving forward to maximize the potential that Web3 communities will play Ex Populus games and embrace the related NFT collections. Ex Populus has continued to attract A-list talent to its Advisory Board throughout 2022, a clear signal that the company is quickly climbing the ranks of elite Web3 game companies.

"As someone who is passionate about onboarding people into Web3 and building communities, I am looking forward to helping Ex Populus onboard gamers into space. I am happy to provide my insights to this amazing team, who has shown that they are capable to attract world-class game and animated film talent to their growing team," said Farokh, co-creator of Rug Radio

"Thanks to my co-founder, Soby, we are privileged and delighted to have Deeze and Farokh join our counsel of key industry talent to provide their insights and influence the direction of the company and its games," said Tobias Batton , co-founder and CEO of Ex Populus.

Ex Populus is backed by Animoca, Com2US, CMS, CitizenX and several other prominent game and Web3 investors.  The company has sold out multiple collectible drops over the past year including LAMO action figures, The Decentralized Autonomous GigaUnits trading cards and is expected to drop Mike Tyson's Iron Pigeons trading card set when their first game, Final Form, hits early access later this year.

About Ex Populus
The Ex Populus Vision is to bring joy to people around the globe with the world's most compelling games and entertainment at the highest level possible. Ex Populus' mission is to work with the next generation of elite content creators and bring their games to Web3 and the Metaverse.

Socials
Web: https://expopulus.com/
Discord: https://discord.gg/expopulus
Twitter: https://twitter.com/ExPopulus

Ex Populus

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SOURCE Ex Populus

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New Trading Platform Monsoon Launches to the Public

The Platform Debuts First Collection of Trading Cards Featuring Artwork from CMON's Worldwide Best-Selling Game Zombicide

Free Digital Collectibles Celebrate Launch Day, Reward CMON Kickstarter Backers

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