Fnatic to Focus New Efforts on Gamer Performance and Ownership of Digital Assets, expanding In-Game Digital Economies Using Web3 Tech.
Fnatic, the world’s leading esports performance brand, announced a strategic partnership and investment with Hivemind Capital, a top crypto asset manager, to accelerate the Company’s ability to partner and natively develop and scale Web3 applications across its award-winning esports platform.
Founded in 2004, Fnatic is a global Esports performance brand headquartered in London. Thanks to its digital ecosystem and physical products, it is laser-focused on leveling up gamers. Since its inception, Fnatic teams have claimed over 200 championships across 30 games and are one of the most successful esports brands. In addition to partnering with Hivemind, they have previously partnered with Crypto.com and Guild of Guardians.
“So while scaled Web3 gaming is still a while away, blockchain-enabled digital assets and applications are accelerants for games and the communities around them. The partnership with Hivemind represents a big step for us towards a world where every gamer owns their digital assets and most games have an App-store-like developer-user ecosystem that’s transparent, thriving, and enables millions more gamers to make a living from gaming,” commented Sam Mathews, Founder, and CEO of Fnatic.
The move is part of Fnatic’s aim to seek additional Web3 opportunities to benefit gamers and gaming, with more in the pipeline. The strategic partnership will allow Fnatic to expand beyond existing partnerships and further develop its own native Web3 applications to enhance gamer performance.
This effort is consistent with its long history of pioneering esports and driving innovation in gaming overall. The backing by Hivemind will also help build momentum towards Fnatic’s long-term goals of scaling game economies through broader creation and ownership of digital assets.
Hivemind Capital Partners (“Hivemind”) is a crypto-focused investment firm dedicated to blockchain technologies, crypto companies, and the digital assets ecosystem. Hivemind leverages a converging multi-strategy approach to create start-to-finish capital solutions for entrepreneurs and provides category-leading infrastructure to institutionalize crypto investing.
“The iconic Fnatic brand is a pioneer in the esports space, and the management team has built a strong, technology-enabled business with a years-long track record. We believe gaming as a sector aligns uniquely with blockchain functionality and applications – making Fnatic a natural candidate for sponsored acceleration of its Web3 efforts,” said Matt Zhang, Founder and Managing Partner of Hivemind.