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Gaming Industry Insights Q2 2023: Where Does the Blockchain Gaming Stand?

Gaming Industry Insights Q2 2023: Where Does the Blockchain Gaming Stand?

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Savvy Gaming Group, Sega, Leads M&A in Q2 2023 as the web3 gaming industry is on a roll, blockchain gaming takes the lead in gaming in Q2 2023

Web3 gaming industry is on a roll and Global Gaming Report Q2 2023 by Drake Star brings us all the geeky stats we need to know. In the second quarter of 2023, the Web3 gaming industry portrays a healthy acquisition and merger activity with a whopping $6B+ worth of disclosed deal value. Leading the way we have a subsidiary of Saudi Arabia’s PIF, Savvy Gaming Group, acquiring Scopely for $4.9B. Additionally, we have Sega acquiring Rovio, and Scopely acquiring Tag Games.

During Q2, several strategic players, including Sony, Keyword Studios, Focus Entertainment, and Team 17, were notably active. Moreover, the M&A deal value experienced a substantial increase in Q2 compared to Q1. So, there is a lot happening in the gaming industry with respect to M&A, public markets growth, financing, fundraising, and Venture Capital activities. Let’s get into the geeky part and see where the gaming industry is headed in Q2 of 2023. Furthermore, we will also look at the 2023 outlook for the gaming industry in this article.

Savvy Gaming Group, Sega, Leads M&A in Q2 2023

Gaming Merger&Acquisition deals in Q2 of 2023 totals 44 and the disclosed value amounts to $6.2B. The mobile gaming sector takes the lead in Q2 with 12 deals in total with PC and Console catching up with 9. Deals involving blockchain tech in Q2 2023 amount to 7. When we look up at the region, we see Asia leading the way and North America and Europe following. The standout deal involves Savvy Gaming Group and Scopely. Scopely, a company valued at $4.9 billion, was acquired by Savvy Gaming Group, a wholly-owned subsidiary of Saudi Arabia’s PIF. The primary objective behind this acquisition was to enhance Savvy’s capacity to introduce innovative products to the worldwide gaming community. As a result of the deal, Scopely gains the opportunity to expand its proficiency in live services to previously untapped segments such as PC, console, and other genres of gameplay.

Sega Acquires Angry Birds Game Maker

Moreover, we have Sega again in the limelight, this time acquiring Rovio, the Angry Birds game maker. In an all-cash transaction valued at $775 million, Sega successfully acquired Rovio, the mobile studio responsible for creating Angry Birds. Sega’s strategic vision for this acquisition involves leveraging Rovio’s “live service” proficiency to expedite the progress of its own current games while fostering synergies between both companies brands.

Additionally, Sega’s cross-platform expertise opens up new horizons for Rovio. It enables them to venture beyond the confines of mobile gaming and explore opportunities across multiple platforms. This collaboration aims to benefit both companies by tapping into their respective strengths and driving innovation in the gaming industry.

Some other Merger & Acquisition deals in the gaming industry in Q2 2023 include Light & Wonder’s proposal to acquire the remaining 17% of SciPlay for $442M. Additionally, we have Focus Entertainment acquired Dovetail Games and Sony Entertainment Interactive acquisition of Firewalk Studios.

Blockchain Gaming Private Placement in Q2 2023

Blockchain segment takes the lead in gaming private placements in Q2 2023 with 52 deals amassing $236M. Some of the names in blockchain’s top private placements are EverDome, Mythical, and PlaiLabs. Several investors, namely GEM Digital, OKX, Binance, and Epic Games, have contributed funding to support various aspects of Everdome’s development. The allocated funds will be utilized to enhance the delivery of the core product, strengthen the infrastructure, and expand the tools available to users for creating and building within the Everdome platform. Additionally, a significant portion of the investment will be dedicated to attracting and growing the user base and fostering partnerships for the platform’s continued growth and success.

Along with receiving funding from a variety of investors, Mythical has also received backing from Scytale Digital, Animoca Brands, Andreessen Horowitz, Gaingels, ARK Invest, MoonPay, Proof VC, Stanford Athletics, WestCap, Signum Growth, and Struck Capital.

Mythical hopes to expand the reach of its games and infrastructure with the help of this substantial investment, opening up a wider mainstream market. The funding will help the business expand. It will enable the business to connect with and interact with more gamers, enhancing its standing in the gaming sector.

Public Markets Update Q2 2023

Some of the highlights in the second quarter include Glory Star New Media Group. It is a Chinese company specializing in the metaverse, advertisement, and online gaming. The company successfully secured $60 million through a PIPE deal with two institutional investors. This injection of funds is expected to fuel the company’s growth and support its ventures in the aforementioned sectors.

Meanwhile, Starbreeze, in a rights issue, raised $43.5 million to expedite investments in game development and publishing, as well as to address outstanding debts. The capital infusion will enable Starbreeze to strengthen its gaming portfolio and enhance its financial position. Similarly, Super League Gaming secured $23.8 million to strategically reduce the company’s debt burden and finance growth-oriented initiatives. The funds will empower Super League Gaming to expand its operations and pursue new opportunities within the gaming industry.

Blockchain Gaming Outlook for the Rest of 2023

At the beginning of Q3, we have several positive developments already, like the Savvy Gaming/Scopely deal going through. Furthermore, we have the U.S. court ruling in favor of the Microsoft/Activision deal, and Goldman Sachs, General Atlantic, and Lego buying the educational games platform Kahoot in a “take private” deal for $1.7 billion.

Experts are of the opinion that there will be a steady rise in mergers and acquisitions (M&A) deals in the second half of the year. Savvy Gaming continues to be active in both acquisitions and minority investments in public companies like EA. Scopely will also indulge in a lot of activities, and it is possible that Savvy will buy a major PC or console game publisher. Besides, Embracer could get rid of some of its studios and buy others.

As the public markets continue to get better, a number of gaming companies that are ready to go public are looking into it. At the same time, private equity firms are becoming more interested in buying publicly-traded gaming companies. Besides, there are rumors that Playtika may end up as one of these companies.

Last year, gaming and blockchain funds raised a lot of money, but investors are being more careful this year. Early-stage funding rounds are likely to stay strong, but later-stage funding rounds could go down. The AI and tools parts of the gaming industry continue to get a lot of attention.

Gaming Industry Insights Q2 2023 Where Does the Blockchain Gaming Stand
Gaming Industry Insights Q2 2023 Where Does the Blockchain Gaming Stand

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Gaming Industry Insights Q2 2023: Where Does the Blockchain Gaming Stand?

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Gaming Industry Insights Q2 2023: Where Does the Blockchain Gaming Stand?

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.