New ecosystem is designed to ensure synergy between Web3 innovators and seasoned gaming engineers with four centuries of combined expertise.
Emergent Entertainment launches with $65 million valuation, targets IPO
According to the official announcement shared by Emergent Entertainment, it concluded the process of merging top-tier London-based video game Maze Theory with Web3 pioneer Pluto Digital.
The new firm, Emergent Entertainment PLC, is intended to change the narrative in Web3 gaming. With the M&A deal concluded, the valuation of the newly launched team already eclipses $65 million. An Initial Public Offering (IPO) on major Western stock exchanges is among the next steps in Emergent Entertainment’s strategy.
Melding the expertise of gaming engineers behind an array of AAA titles — including FIFA, NBA Online, The Sims, Need for Speed, Gran Turismo, Lord of the Rings, Horizon Zero Dawn, Sniper Elite, Peaky Blinders: The King’s Ransom, Doctor Who: Edge of Time, Blood and Truth, and PlayStation VR Worlds — and top-notch Web3 experts, Emergent Entertainment will combine the leading practices of mixed reality gaming, Web3 gaming, crypto token services and so on.
The company has already unveiled its first release, Web3 game Resurgence. Its players will be invited on a journey toward a post-apocalyptic future and missions of utilizing resources in a community-first survival concept.
Sony PlayStation veteran Simon Rutter joins new venture as chairman
Emergent Entertainment CEO Ian Hambleton is excited by the mission of his team and the prospects it unlocks for gamers, Web3 natives and VR/AR newbies:
We are excited to bring together AAA game creators and advanced Web3 engineering skills in a way that hasn’t yet been seen. We are laser focused on delivering the best games and experiences using technology that truly benefits players and new audiences.
The new firm will be helmed by Chairman Simon Rutter, a former vice president of Sony Interactive Entertainment. Mr. Rutter highlights the importance of this M&A for the entire Web3 segment and its global community of gamers:
The Emergent Entertainment leadership team is passionate about the creative opportunities offered by the latest technological innovations.
Prior to joining Emergent Entertainment PLC, Mr. Rutter spent 25 years at PlayStation, coordinating its senior leadership strategy.