Fnatic, the British esports entity, has signed the dotted lines with the cryptocurrency asset manager, Hivemind Capital.
In this development, Hivemind Capital has also been onboarded by Fnatic as an investor. Fnatic has also been enabled to focus on the development of Web3 applications in this association along with developing gaming performances and experiences.
This newly inked collaboration progressed on the back of Fnatic’s current work on Web3 followed by its association with Crypto.com in September 2021, which led to the creation of the British esports company’s 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.“