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GGP Gaming Weekly – March 29


Consumers spent $22B on mobile games in Q1 2022, according to Data.ai (link)

  • Games accounted for 74% of consumer spend on Google Play and 60% on iOS, Games also accounted for 44% of all app downloads on Google Play and 28% on iOS 
  • Data.ai predicts that the total number of app downloads for Q1 2022 will be roughly 14B
  • The most downloaded game for the quarter was Free Fire, which was also the most downloaded mobile game of 2021, followed by Roblox and Candy Crush Saga

Twitch accumulated 2B hours of viewership during February, according to Rainmaker.gg (link)

  • The most watched game on the Twitch platform in February was Lost Ark with 143M hours watched, followed by League of Legends at 131M, Grand Theft Auto V at 127M, and Valorant at 84M
  • Additionally, February was the first time in which a VTuber, a content creator that uses a virtual avatar, was among the top ten most watched people on the streaming platform

M&A and Capital Raises

GGWP raises $12M for AI to combat game toxicity (link)
GGWP is a portfolio company of Griffin Gaming Partners

  • GGWP has raised $12M in seed funding to use AI and content moderation to reduce toxicity in online games
  • GGWP has an AI-powered moderation platform that enables publishers to easily view a game’s aggregate community health, review incidents that occur with contextual information, and understand each players’ overall impact in the community
  • Bitkraft Ventures led the round with additional participation from Griffin Gaming Partners, Makers Fund, Sony Innovation Fund, and Riot Games

Ramen VR raises $35M in series B funding round (link)

  • Ramen VR was founded in 2019 by Lauren Frazier and Andy Tsen, and the studio’s first VR game, MMORPG Zenith: The Last City, was released in January 2022
  • The Company will use the proceeds towards expansion of its staff and game development
  • The round was led by Anthos and Dune, with additional participation from Makers Fund and Andreessen Horowitz

Gamefam raises $25M to build games for Roblox (link)

  • Gamefam provides creators with tools, resources, and processes to manage their games more effectively so creators can focus on big creative ideas
  • Founded in 2019, Gamefam currently has more than 30 games on Roblox including top-25-games Twilight Daycare, All Star Tower Defense, and Tower of Misery
  • The round was led by Konvoy and Play Ventures, with additional participation from Makers Fund, Bessemer Venture Partners, and Galaxy Interactive

Netflix acquires game developer Boss Fight Entertainment (link)

  • Founded in 2013, Boss Fight’s mission is “to bring simple, beautiful, and fun game experiences to our players wherever they want to play” 
  • The Developer is known for their free-to-play mobile title Dungeon Boss
  • This is Netflix’s second game acquisition this month, after announcing its acquisition of Finnish mobile developer Next Games for €65M

Red Door Digital raises $5M to build high-end blockchain games (link

  • Founded in 2021, Red Door Digital is a blockchain game developer with three titles in development, leveraging its proprietary game theory models for engaging gameplay
  • The Company will use the seed proceeds to build out Red Door Digital’s central technology team and platform, which will design and develop the studio’s games
  • The round included participation from M6, Shima Capital, Maven Capital, and Cryptology Asset Group

PlayStation Studios acquires Jade Raymond’s Haven Studios (link

  • Founded in 2012 and based in Montreal, Haven Studios is working on a title described as an “ambitious and a modern multiplayer experience that brings gamers together in positive and meaningful ways”
  • Studio founder Jade Raymond said in a statement, “SIE is a supportive partner that truly understands the creative process and what it takes to make a blockbuster AAA game. They have empowered and encouraged us to bring our bold vision to life and make our dreams come true and we could not be more thrilled about this opportunity to strengthen our partnership”

Playtika Acquires JustPlay.LOL (link

  • Playtika acquired Israel-based JustPlay.LOL, creator of the multiplayer game 1v1.LOL
  • The acquisition expands Playtika’s offering into the Action and Battle Royale genres
  • JustPlay.LOL was founded in 2018, and its games have accumulated more than 50M downloads and have approximately 700k DAUs globally

Paradox Interactive Acquires Academia: School Simulator (link

  • Paradox Interactive announced it had acquired Academia: School Simulator from Squeaky Wheel Studio
  • Academia: School Simulator is centered around players being tasked with building and managing a high school


Jam City unveils blockchain division and first NFT game Champions: Ascension (link)

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