British esports firm Fnatic has inked a strategic partnership with cryptocurrency asset manager Hivemind Capital. Hivemind Capital has also joined Fnatic as an investor.
The partnership will allow Fnatic to focus on developing Web3 applications and enhancing gaming performances and experiences.
The deal will be building on Fnatic’s already present work on Web3, after its partnership with Crypto.com in September 2021, which saw the British organisation create its own blockchain-based fan membership programme.
Sam Mathews, Founder and CEO of Fnatic, commented:
“We think that games are rapidly becoming platforms for their communities. 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.“
Matt Zhang, Founder and Managing Partner of Hivemind, added:
“Fnatic and its global fan base represent exactly the type of Web3-ready franchise we are excited about. 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.“