Connect with us
European Gaming Congress 2024

Gaming

Gaming site Haste Arcade raises $1.5M in oversubscribed fundraising round

Published

on

Reading Time: 3 minutes

 

Haste Arcade has just closed its $1.5 million seed round. The fundraising was oversubscribed, Haste was able to exceed the $1 million target that it had set for itself.
“We were originally seeking $1MM to lay a good solid foundation for the product/vision and then have some working capital to start testing our assumptions around product/market fit, specifically with marketing outside the ‘crypto’ community,” said Dan Wagner, the co-founder of Haste Arcade.
“After pitching the concept to a handful of investors, it became obvious that we weren’t the only ones thinking ILP™ Gaming could potentially become a ‘thing.’ We stopped pitching a couple of months ago but due to word of mouth and interest from other investors we were able to secure an additional $500K on top of the original goal bringing the total to $1.5MM,” he added.
The gaming industry
According to Wagner, there are several elements of the Haste Arcade that make investors confident in Haste’s future.
“First and foremost, the idea; its novel, it’s new, and it’s easy to understand. Get on the leaderboard. Get paid. It’s not rocket science by any means and at the same rate, it’s not hard to imagine something like ILP™ Gaming catching on and taking off.
“Secondly, the market. Online gaming is absolutely massive and even if you’re only able to capture a small fraction of the gamers in the world, you can build a business with millions or hundreds of millions of users.
“And finally, our team. It’s not our first rodeo, meaning, we’ve raised capital before and we’ve shown what it takes to build a business. Many don’t know this, but the four co-founders of Haste, Inc. have been working together for basically seven years at this point. We move fast, are great at failing, iterating, pivoting, and quite frankly just getting stuff done and keeping the ball rolling.
“Add in the rest of the folks we’ve brought on and our core team of 8 forms a solid foundation. When you realize the core team’s skill set and experience, you realize that in a lot of ways, it’s not your average startup. Since we started building beta, everything has been done first class. If we are right, Haste Arcade has uncovered an entirely new category in gaming, and there is most likely some money to be made from being the market leader for something like that,” said Wagner.
The lead investor in the round was Jonathan Cogley, the CEO of Logic Boost Labs. Cogley has a long and successful history in the cybersecurity field and recently sold his cybersecurity company Thycotic for $1.4 billion. Now, he spends his time at Logic Boost Labs, a San Diego-based accelerator that invests in early-stage leaders.
Other notable investors that participated in the seed round include Thomas Vu, who formerly worked at Riot Games helping bring League of Legends to market; Anthony Borquez, the CEO of Grab Games and a professor at the University of Southern California; Craig Brennan, the Silicon Valley veteran with decades of experience in software leadership/management that sits as the CEO of private and public companies; and Brad Powers the CIO of Passport.
Seeing new investors throw their hats in the ring is a positive sign. Investors provide companies with the resources they need to succeed because they see value in the company’s business model and have the belief that their business will be worth significantly more in the future. Businesses like Haste that find a way to implement innovative ideas that have the potential to revolutionize an industry will always be sought after by investors.
The fact that the latest haste fundraising round was oversubscribed confirms that theory and supports the idea that there is a tremendous amount of value that can be realized by the businesses using the Bitcoin blockchain as a core component of the app, service, or experience that they are creating.
The Haste Arcade future
“We are highly focused on a couple of things at the moment like capturing and analyzing data from our marketing efforts and sharpening the unit economics so that we have a compelling story when we start raising growth capital. We are also highly focused on creating new and more engaging experiences throughout the arcade. We’re very excited about certain items on our roadmap and believe the online gaming community will be too,” said Wagner.
Ultimately, the money Haste Arcade has raised will bring them closer to having their overall vision come to fruition.
“In the future, you will come to Haste Arcade for awesome experiences. You will play games, compete, and have fun, but you will also drop in just to hang out, be social, and communicate with the friends that you’ve made from all around the world. You will enjoy immersive experiences in the metaverse. You will make some money and some will even quit their jobs and become professional gamers in the arcade,” Wagner said.
“You will see Haste Arcade on national television. You will see Haste Arcade promoted by the biggest celebrities and pro athletes in the world. You will buy a Haste console. You will play ILP™ games at your local bar. You will even walk into a physical arcade and play skeeball or shoot hoops for ILP™. If you are involved now, you will be proud to have been a part of it all in its early stages,” he added.

Powered by WPeMatico

Continue Reading
Advertisement

Gaming

Nolimit City revisits the brutal factory life in Outsourced: Slash Game

Published

on

nolimit-city-revisits-the-brutal-factory-life-in-outsourced:-slash-game
Reading Time: 2 minutes

 

Nolimit City takes you back to the grind with its latest release, Outsourced: Slash Game. For those who thought their consumerist cravings were a safe indulgence, think again. Following in the footsteps of Outsourced, this new addition pulls back the curtain on the sweat and sacrifice lurking behind those everyday luxuries—this time with a dash of danger. Outsourced: Slash Game is the studio’s second venture into crash-style gameplay, the first being xCrash™ in Skate or Die – but this time it’s a standalone crash game!

In Slash Game, players have to make some cutthroat decisions as a laser traces the outline of their hand, increasing the multiplier with every pass. Players hit “stop” to cash out, locking in the multiplier when they feel the timing is right. After which, they will be shown the potential winnings if they wouldn’t have stopped. But here’s the catch: if players hesitate a second too long and the laser slips, all the winnings are lost. A live scoreboard displays the Top Win, Top Miss and Last Round, so that players can keep track of their previous rounds.

Outsourced: Slash Game is not a familiar Nolimit City slot to some players but could cause some excitement with an increasing multiplier and a maximum payout of 1,500x the base bet. Outsourced: Slash Game, unlike Nolimit City’s high-volatility slots, is rated as ‘Medium Volatility’ but don’t let that fool you as it still includes the risk of losing your hand.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Per Lindheimer, Head of Product at Nolimit City, said: “Get back to work, will you? We’re bringing players back to the unrelenting factory floor of Outsourced with an all-new twist. Slash Game is a standalone take on our crash-style games, and it’s packed with plenty of heart-stopping moments (and maybe a few hand-stopping ones, too). We’re thrilled with how it turned out and we hope that our fans will be too!“

‘Outsourced: Slash Game’ will be available to all Nolimit City partners on November 5th, 2024.

The post Nolimit City revisits the brutal factory life in Outsourced: Slash Game appeared first on European Gaming Industry News.

Continue Reading

Gaming

The mobile gaming market is growing and attracting new companies. GAMIVO is the latest example

Published

on

the-mobile-gaming-market-is-growing-and-attracting-new-companies.-gamivo-is-the-latest-example
Reading Time: 3 minutes

 

Usually, consoles and PCs come to mind when discussing the gaming industry. The mobile sector is often treated as a child of a lesser god, even though it generates almost as much revenue as console and PC combined. Some companies can see this potential. For instance, the e-commerce platform GAMIVO has recently entered the mobile market, allowing players to buy in-game items cheaper.

Back on course

The entire video game industry has evolved incredibly, but the most spectacular has been the growth of the mobile sector. It expanded from 36.9 million dollars in 2016 to 93.2 billion in 2021. Unfortunately, the gaming market suffered from a decline that stemmed from the overoptimism of the pandemic era. As a result, the mobile gaming industry revenues dropped to 92.2 billion in 2022 and to 90.5 billion in 2023. Recent information has indicated this was a necessary correction rather than a long-term trend.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The latest Newzoo report, issued in August 2024, shows that the industry is on the right track again. According to analysts, the mobile sector will generate revenues of $92.6 billion, representing +3.0% growth year-on-year. It’s nearly half of the entire gaming industry.

Billions of players

Revenues are crucial, but they only show part of the story. To fully understand the size and potential of mobile gaming, it’s necessary to consider the number of players, which constantly grew even when revenues dropped. Newzoo estimates that it will reach 2.8 billion in 2024. It means that almost twice as many people play on mobile devices than on PCs and consoles combined. Currently, every third person on Earth plays on mobile devices, and there’s still space for further growth.

“There are emerging markets where smartphones and mobile networks can expand, providing new potential players. Furthermore, this type of entertainment has a low entry barrier because most popular games are free and don’t require high-end devices,” explains Mateusz Śmieżewski, the CEO at GAMIVO.

One hobby, different habits

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

GAMIVO is an example of a company that has recently joined the party to get a piece of the mobile pie. “We examined the mobile market for a very long time, trying to find a suitable place for us. It’s essential to understand that mobile gaming and mobile gamers differ from their PC or console counterparts. You can’t do the same things you do with PC and consoles and hope to replicate your success,” said Mateusz Śmieżewski.

Studies confirm this observation. Average PC and console players spend about 2.1 hours a day in virtual worlds. It’s half an hour more than mobile gamers. However, things get interesting when we take a look at playtime per week, which is the same for mobile and console (5.4 hours) and slightly longer for PC (5.7 hours). Moreover, typical PC and console owners play 2.6 and 2.7 days a week, respectively, while mobile players play 3.4 days per week.

Those statistics prove that PC and console players are more dedicated, spending more time in games’ worlds once they enter them. However, mobile gamers prefer shorter but more frequent sessions. They play while commuting or have a short amount of free time.

“Mobile players are more willing to uninstall games and give another title a chance. Hence, the gameplay has to be captivating and designed to provide quick but intense sessions.

Furthermore, even though the average weekly playtime is identical to PC players, many mobile players don’t think of themselves as gamers,” clarifies Mateusz Śmieżewski.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Another major difference regards the way in which revenue is generated. PC and console games traditionally represent the premium model, where players buy the game. Most popular mobile releases are free and generate revenue with microtransactions. Almost all titles allow players to spend their real money on virtual coins, crystals, and other items that can be used to unlock additional content or reduce cooldowns.

Entering the mobile market

Those contrasts and nuances scare most companies from the mobile market. Let’s see how GAMIVO has coped with this.

“We decided to launch a new product category dedicated to mobile gamers. Our model allows them to top up in-game accounts cheaply. As a result, they can save up to 30% on buying virtual items, upgrades, and other content. The GAMIVO offer includes the most popular mobile titles, such as Genshin Impact and PUBG Mobile, and still extends,” describes Mateusz Śmieżewski.

“We dedicated a lot of time to research and analyses. Also, the development process required a lot of work to provide GAMIVO customers with safe transactions and a user-friendly environment. The first reactions are very positive, confirming our belief that our decision was right and there is still more space in the mobile game market,” concludes the GAMIVO CEO.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post The mobile gaming market is growing and attracting new companies. GAMIVO is the latest example appeared first on European Gaming Industry News.

Continue Reading

ADG

Arizona Department of Gaming Reports $43.9 Million in Tribal Gaming Contributions for the First Quarter of Fiscal Year 2025

Published

on

arizona-department-of-gaming-reports-$43.9-million-in-tribal-gaming-contributions-for-the-first-quarter-of-fiscal-year-2025

The Arizona Department of Gaming (ADG) announced today $43,926,346 in tribal gaming contributions to the Arizona Benefits Fund for the first quarter of Fiscal Year (FY) 2025. This amount represents an
approximate 3.6 percent increase when compared to the same quarter of FY 2024.

The Arizona Benefits Fund receives 88 percent of tribal gaming contributions, providing significant dollars to support instructional improvement in schools, trauma and emergency care, tourism, and wildlife conservation throughout the state.

FY 2025 Qtr 1 Total: Tribal Gaming Contributions to the Arizona Benefits Fund.

“We are pleased to report yet another increase in the first quarter of the FY 2025, reflecting steady growth in the state’s tribal gaming industry,’ said Jackie Johnson, Director of ADG. “This growth highlights the continued strengtht
of the partnership between the state and our Arizona tribal partners. Notably, cumulative tribal contributions to the Instructional Improvement Fund have now surpassed $1 billion, demonstrating the significant and ongoing impact of tribal gaming on education and communities across Arizona.

Per the Arizona Tribal-State Gaming Compact, Tribes with casinos also contribute a percentage of their Class gross gaming revenue to cities, towns, and counties. Currently, there are 25 Class Il casinos in Arizona, which ADG
regulates in partnership with Arizona tribes. Since FY 2004, approximately $2.3 billion in cumulative contributions
have been received by the state and its cities, towns, and counties.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania