Game developer Wemade Co., Ltd announced Friday that it has made "a strategic investment" in South Korean esports organization DRX. Financial terms of the investment were not disclosed, but in a release the company said that it will "onboard DRX's IP) and tap into the organization's 3.7M-strong fanbase.  While the Seongnam, South Korea-based Wemade is currently pushing its blockchain-based NFT platform called WEMIX, the company is better known outside South Korea for its trio of massively multiplayer role-playing games in...

London-based esports organization Fnatic announced that it has inked a new partnership deal with Hivemind Capital. The "strategic partnership and investment" will see the crypto asset management company founded by former CitiBank executive Matt Zhang work with Fnatic to accelerate its ability to partner with other companies in the space and "natively develop and scale Web3 applications," according to a release. Financial terms and length of the partnership/investment were not disclosed. Hivemind Capital was joined by GuildFi, IndiGG, Paribu Ventures,...

Microsoft's planned acquisition of Call of Duty and World of Warcraft maker Activision Blizzard is likely to be challenged by the Federal Trade Commission in the United States, according to an exclusive report from Politico.  The FTC is "likely to file an antitrust lawsuit" to block the $69B USD acquisition, the report notes, though the U.S. agency overseeing mergers and acquisitions has yet to vote on such a move or to meet with Microsoft or Activision Blizzard lawyers, a source familiar...

Brent Koning, who spent more than six years at Electronic Arts facilitating its competitive gaming efforts, has announced his exit from the company. Koning most recently served as the vice president of esports where he oversaw EA's portfolio of esports titles including Apex Legends, FIFA, and other titles from the company's London offices. Koning was promoted to the leading role in esports in May; prior to that he spent a year in Redwood, California, overseeing FIFA exports competition as VP of FIFA competitive gaming....

On Saturday esports organization TSM issued a statement to address the ongoing situation with its naming sponsor FTX, who filed for Chapter 11 Bankruptcy protection under the U.S. Code in the bankruptcy court in the District of Delaware earlier this month.  On Wednesday morning TSM issued a new statement announcing that it has suspended the 10-year, $210M USD naming rights deal it signed with FTX in 2021. The company said in its statement that it will remove all mention of FTX from jerseys and social media, though...

Publicly-traded virtual racing game maker Motorsport Games (NASDAQ: MSGM) has fell out of compliance with the NASDAQ stock exchange recently after its entire board of directors resigned over a disagreement with a majority shareholder about raising future capital.  First reported by Insider Gaming, the news came to light via a Form 8K filing with the U.S. Securities & Exchange Commision (SEC) earlier this month, in which the company detailed the resignation of its board on Nov. 9.   While details are a little murky, the disagreement revolves around...

Complexity Gaming owner GameSquare Esports has appointed Netflix President of Worldwide Advertising Jeremi Gorman to its board of directors as an independent director. Gorman is a seasoned marketing and sales executive who joined Netflix in September. Prior to that she spent nearly four years at Snap as its chief business officer. Prior to Snap, Gorman was head of global large customer sales at Amazon. Since beginning career in 1999, Gorman has held executive sales and marketing roles at such companies as Monster.com, Yahoo!, and Variety Magazine. GameSquare Esports owns and operates Texas-based esports...

Yesterday we reported that high-profile FaZe Clan executive Kai Henry had resigned from his post as chief strategy officer, revealed via a Form 8-K filing with the U.S. Securities & Exchange Commission (SEC) filed by FaZe Holdings Inc. (NASDAQ: FAZE) on Nov. 8, but Henry isn't the only executive to leave the company quietly in the last few months. Bo Wolfe, who spent nearly a year-and-a-half as a marketing cooridnator for FaZe Clan before being promoted to VP of consumer products, left the company...

High-profile FaZe Clan executive Kai Henry has resigned from his post as chief strategy officer, effective immediately. The news came via a Form 8-K filing with the U.S. Securities & Exchange Commission (SEC) filed by FaZe Holdings Inc. (NASDAQ: FAZE) on Nov. 8. "On November 8, 2022 (the “Resignation Date”), Kai Henry voluntarily resigned from his role as the Chief Strategy Officer of FaZe Holdings Inc.," the form reads (the 'Company'), effective immediately," the filing reads. "Mr. Henry is not entitled to...

Esports organization TSM issued a statement on Saturday to address the ongoing situation with its naming sponsor FTX, who filed for Chapter 11 Bankruptcy protection under the U.S. Code in the bankruptcy court in the District of Delaware. This announcement followed a rough week for the crypto exchange as it went from being valued at $32B USD to filing for bankruptcy in the span of 10 days. For TSM the focus has been on the state of its naming rights deal with FTX—the companies signed a...