By Chloe Aiello
Former CEO of Take-Two Kelly Sumner is looking for the next big game. But instead of investing hundreds of millions, its blockchain-based video game publisher Planet Digital Partners targets mid-level games often ignored by big publishers.
"Electronic Arts, Take-Two, Activision ($ ATVI), etc., They're spending hundreds of millions of dollars on a game, expecting to be … getting billions … And the kind of middle, where there's something really good, exciting games, not there, "said Sumner at Cheddar Friday.
Planet Digital launched a Security Token Offering on Thursday with the goal of democratizing the development of the game and financing alternative games. The company offers 38 million "Token Rockets" for $ 1 for tokens to accredited investors. Sumner said he expects investors to receive dividends as soon as the first quarter of 2020.
"This relaunch will allow us to go out and maybe find the next" Grand Theft Auto ", maybe the next" Guitar Hero ", because they started franchises out of the billion-dollar franchise ー but they are become franchises of billions of dollars, "said Sumner. .
For investors, the token launch represents investment in a portfolio of games. Three games scheduled for distribution so far are "The Hunt" by Cabela, "Cooking Mama" and Bass Pro "The Strike". Sumner admitted that they are not games that would necessarily play, but that they have a promising market.
"We're not trying to get the next football game or the next" Call of Duty ", etc. We're considering the opportunity to invest $ 5 million in a game, $ 10 million in a game ーa game that will have revenues of $ 50 million more, where our competitors … will not even manage to get out of bed for that, "he said.
Sumner also said that blockchain offers opportunities for Planet Digital, not just in terms of financing and security, but in interactive games. He said that there is the potential to introduce interactive trading functionality between players and viewers of the game, which could unveil a new element in the game.
"Blockchain offers some really interesting opportunities," he said.