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FUNDING

King River Capital, Immutable, and Polygon Labs have teamed up to launch the $100M Inevitable Games Fund (IGF

Wanda Meloni
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This web3 fund brings together Immutable and Polygon Labs who will identify opportunities for investors across the ecosystem. Managed by King River Capital, with support from Immutable and Polygon Labs, the fund targets high-growth prospects in the web3 gaming space. IGF's investor base comprises select professional and sophisticated investors, with an initial cap set at […]
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AdobeSubstance
GAMES

Adobe Integrates Firefly Generative AI Into Substance 3D Workflows

News Desk
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Adobe has integrated Firefly generative AI capabilities into Substance 3D Sampler and Stager, marking a significant advancement in 3D workflows for industrial designers, game developers, and VFX professionals. These new features, Text to Texture and Generative Background, streamline and enhance 3D texturing and staging tasks, saving time and boosting creativity. The Text to Texture feature […]
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PSVR2
GAMES

Sony stops production of PSVR 2 to clear current backlog

News Desk
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According to Bloomberg, Sony Interactive Entertainment has paused the production of PSVR 2 in order to address the existing surplus of unsold units. This information comes from sources familiar with the situation. These sources indicate that Sony has already manufactured over 2 million units of PSVR 2. Data from IDC, as cited by Bloomberg, reveals […]
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FUNDING

VR game developer Thirdverse has finalized $11.29 million in investment

News Desk
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Based in San Francisco, California, Thirdverse, raised $3.3 million through a third-party share allotment facilitated by Nissei Capital Co., Ltd. and VeriServe Corporation. This latest funding, combined with the capital previously raised in November of the previous year, brings the total series D funding to approximately $11.29 million. When considering the funds amassed before the […]
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DIGITAL HUMANS

Ready Player Me’s New AI-Based Copilot Set to Revolutionize Avatar Development

News Desk
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Ready Player Me Introduces Copilot for Avatar Integration As reported by VentureBeat, Ready Player Me, a company specializing in cross-platform avatar solutions, has launched Copilot, a tool integrated with OpenAI’s GPT-4 and OpenCopilot. This AI tool is aimed at simplifying the process for developers to incorporate avatars into their applications and games. Copilot benefits from […]
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NetEase Games
FINANCIALS

NetEase Announces Second Quarter 2023

News Desk
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NetEase, Inc. announced its unaudited financial results for the second quarter ended June 30, 2023. The company reported net revenues of RMB24.0 billion (US$3.3 billion) for the quarter, marking a 3.7% increase from the same period in 2022. Notable financial highlights include: Net revenues from games and related value-added services reached RMB18.8 billion (US$2.6 billion), […]
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Bioware layoffs
GAMES

BioWare Announces Layoffs as Studio Adapts for Future Projects

News Desk
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BioWare, an Electronic Arts (EA) studio known for its story-driven single-player games, is undergoing a workforce reduction of 50 employees. In a blog post, BioWare's general manager, Gary McKay, outlined the necessity for this reorganization as the studio reevaluates its development approach. McKay emphasized that this adjustment is crucial to meet the demands of upcoming […]
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