{"id":25610,"date":"2023-03-08T22:53:20","date_gmt":"2023-03-08T22:53:20","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/03\/08\/believer-a-new-approach-to-gaming-raises-55m-from-lightspeed-a16z-and-more\/"},"modified":"2023-03-08T22:53:22","modified_gmt":"2023-03-08T22:53:22","slug":"believer-a-new-approach-to-gaming-raises-55m-from-lightspeed-a16z-and-more","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/03\/08\/believer-a-new-approach-to-gaming-raises-55m-from-lightspeed-a16z-and-more\/","title":{"rendered":"Believer, a new approach to gaming, raises $55M from Lightspeed, a16z and more"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/03\/07\/believer-a-new-approach-to-gaming-raises-55m-from-lightspeed-a16z-and-more\/<\/a><\/br>
\nBeliever, a new approach to gaming, raises $55M from Lightspeed, a16z and more<\/br>
\n2023-03-08 22:53:20<\/br><\/p>\n

\n

Gaming is at a crossroads these days: A decades-old business that has had remarkable staying power banked around classic concepts is now engaged in a battle royale with innovations in areas like mixed reality, AI, blockchain and networking, as it strives to connect with an increasingly fragmented consumer base.<\/p>\n

Today, a startup is announcing $55 million in funding from some big-name backers to mark its own approach on the field. Believer<\/a>, founded by ex-Riot execs Michael Chow and Steven Snow, is still in stealth and isn\u2019t likely to launch anything for three-five years, the founders tell me. But it has very big ambitions to take on the big players and bring something new into the mix, particularly in large multiplayer \u201copen world\u201d games.<\/p>\n

\u201cWe believe that the open world genre has been capped by a single-player, boxed-product focus,\u201d said Snow, Believer\u2019s chief product officer, as part of an emailed interview with the two co-founders. \u201cWe love these games; adventuring in Ancient Egypt or a near-future dystopia is awesome! But it\u2019s time we started having these adventures with our friends.\u201d<\/p>\n

It will be doing this with some impressive backing. Lightspeed Venture Partners is leading the Series A, with Andreessen Horowitz (a16z) also participating; alongside this, Bitkraft Ventures, Riot Games, 1Up Ventures, Don Thompson\u2019s Cleveland Avenue and Michael D. Eisner\u2019s Tornante Company are among those in a previously undisclosed seed round. It\u2019s not disclosing valuation at this time, the two co-founders told me.<\/p>\n

Believer at its heart describes itself as a studio, and the money will go initially to picking up more talent to fill that out, complementing initial hires that include CTO Landon McDowell (Microsoft, Riot Games, Linden Lab), CCO Jeremy Vanhoozer (Bungie, Electronic Arts), COO Tim Hsu (Twitter, Riot Games), CMO Shankar Gupta-Harrison (Riot Games, Dentsu X), Director of Operations Grace Park (League of Legends: Wild Rift), and VP of Design Jeff Jew (League of Legends, Legends of Runeterra).<\/p>\n

The focus at first will be to work on original IP and stories \u201cwhere player choices matter,\u201d the company said.<\/p>\n

But alongside that, there will be both a technology play, as well as a pursuit of the piece that seems to be part and parcel these days of any budding media empire: a larger entertainment focus.<\/p>\n

\u201cWe will definitely build new technologies, but judiciously: only in the highly differentiated cases where no technology exists to support the dreams of our players, and the needs of Believers to achieve those dreams,\u201d said Chow. Yet tech, at least in some regards, is not the pure focus at all there. When I asked about which platforms currently interest Believer most right now \u2014 given the boom in casual games for mobile, multiplayer brands on PCs and connected TVs, and the budding world of VR, the answer could be just about anything, really \u2014 I got a very non-specific response.<\/p>\n

\u201cThe most compelling platform is all platforms,\u201d Snow told me. \u201cIt really does feel like we are in one of the most exciting times where the desire for platform parity is also meeting the ability to deliver compelling gameplay models across said platforms. Therefore, we want to build game experiences that are shared broadly among groups of friends, and the way to truly deliver that is by having as few barriers to entry, like platform exclusivity, as possible.\u201d<\/p>\n

Chow, meanwhile, likens the choices that Believer will make to those that Pixar has had in the world of animation: It didn\u2019t invent technology, but \u201chad to create completely new ways of making movies to work with it.\u201d<\/p>\n

The Pixar parallel is intentional. \u201cGames companies are increasingly moving to the heart of the entertainment ecosystem,\u201d Chow added. \u201cIn the past, we\u2019ve seen media companies acquire games companies to extend the reach of their IPs into interactive media. Now, we increasingly see that dynamic reverse, where great IPs are born in video games, and are then surrounded by TV, film, music, and sport. We love this model, we lived and breathed it at Riot, and at Believer we strive to do even better.\u201d<\/p>\n

For investors like Eisner, the former head of Disney, this is key. \u201cTruly great content franchises are not built with a single media type\u2014they need to resonate with their audience across games, film, television, collectibles, and real-world interactive experiences,\u201d said Eisner in a statement. \u201cThe Believer Company gets that, and we at Tornante are excited to advise them as they bring their vision to life across every platform.\u201d<\/p>\n

With little to go on in the way of what the company has built so far, or is planning to build \u2014 and before it\u2019s been shown whether any of that can get traction with players, ultimately the biggest test of all \u2014 what\u2019s perhaps interesting right now is to hear from the co-founders about what they will not<\/em> be doing.<\/p>\n

You can forget about NFTs, for one.<\/p>\n

\u201cWe say no fucking thanks to NFTs,\u201d said Snow. \u201cThese technologies are struggling in games because players aren\u2019t asking for them, and no one as of yet has shown how they can make a game more fun. I believe games are supposed to be fun. We\u2019re not here to meme on tech, that won\u2019t enrich the industry for anyone, let alone players.\u201d<\/p>\n

That\u2019s not to say that metaverse and web3 \u2014 whatever you might think that means \u2014 are being written off completely.<\/p>\n

\u201cI think someone will come up with solutions using these concepts eventually but it\u2019s not a goal we have right now. For us it\u2019s how do these make the gameplay better, and right now we don\u2019t see these technologies enriching that conversation specifically,\u201d Snow said. \u201cMore R&D needs to happen here before the fun they offer players is clear and straightforward, and based on what we\u2019ve seen to date, they may not get there.\u201d<\/p>\n

On the other hand, the company is hoping to do more with generative AI.<\/p>\n

\u201cWe want to be leaders not just in building and making use of this tech, but also in the ethics of how it\u2019s applied,\u201d said Snow. He went on to emphasize that this would not be at the expense of a focus on human creators, which they view as \u201cessential\u201d to gaming. It\u2019s more about new kinds of functionality that AI can enable, \u201cthe highest-powered tools that will unlock high-quality fun. AI and ML undoubtedly have a say here, especially as time moves on, but it\u2019s up to us to be responsible with how it\u2019s leveraged.\u201d<\/p>\n

Given how hard it is for any startup to raise money, let alone one with a totally unproven product aimed at the very fickle market of consumer gaming, it\u2019s very notable that Believer has picked up such a huge sum. Snow knows that the round is big, but it was raised partly because they could do it, and because they don\u2019t know what is around the corner.<\/p>\n

\u201cNormally a raise of this size isn\u2019t warranted, but we also aren\u2019t sure what fundraising looks like later this year or next,\u201d he said. \u201cMichael and I were willing to let go more of our own ownership to ensure we can remain player and product focused for the next three years or more. This was the best way to get the right support in place to solidify our future.\u201d<\/p>\n

Chow added that the \u201cwide spectrum of backgrounds\u201d of investors allowed for \u201crich diversity of thought, knowledge, and perspectives.\u201d<\/p>\n

\u201cOnce we found the right team of investors, beginning with Lightspeed and a16z, it became quite straightforward to find more partners with the right mindset for the current moment,\u201d Chow added. \u201cWe believe we have the best investors and advisors a games company has ever had. There\u2019s something about this climate that has people thinking big and long-term \u2013 a desire to take advantage of the present moment, with all its uncertainty and possibility, and swing big for disruptive impacts.\u201d<\/p>\n

Snow said that three to five years for its first product is a \u201creasonable\u201d timeline, so hopefully those supportive investors are also\u2026 patient.<\/p>\n

\u201cWe will do this in stages and ask players to engage with us earlier than later,\u201d Snow added. \u201cWe have internal roadmaps, of course, because they\u2019re critical to accountability, but a date is a promise to players, and we\u2019re just not ready to make one yet.\u201d<\/p>\n

For now, the early signals of making key hires is somethng that the investors like so far.<\/p>\n

\u201cThe team already assembled at Believer stands ready to change the industry through an unyielding devotion to players,\u201d said Moritz Baier-Lentz, partner at Lightspeed Venture Partners, who is joining Believer\u2019s board of directors. \u201cForget preconceived notions about building, selling, and marketing franchises atop $70 entry fees and strictly authored, immovable stories. As a life-long player and \u2018believer\u2019 myself who\u2019s followed and admired the studio\u2019s founders\u2019 work for years, I know Michael, Snow, and their incredible team will make the next big thing by doing the right thing, at every turn. I\u2019m inspired by their vision and honored to help make it possible.\u201d<\/p>\n

\u201cWhen Michael, Snow, and their fellow founders at Believer speak about what\u2019s next for video games, the industry stops and listens,\u201d added Andrew Chen, general partner at a16z, in a statement. \u201cTime and time again, through both innovative use of new technology and subversive design principles, they\u2019ve defied convention and realized ambitions other developers hadn\u2019t dreamed yet. We\u2019re proud to join them at this moment in history and empower them to find the creativity in nascent technology.\u201d<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/03\/07\/believer-a-new-approach-to-gaming-raises-55m-from-lightspeed-a16z-and-more\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/03\/07\/believer-a-new-approach-to-gaming-raises-55m-from-lightspeed-a16z-and-more\/ Believer, a new approach to gaming, raises $55M from Lightspeed, a16z and more 2023-03-08 22:53:20 Gaming is at a crossroads these days: A decades-old business that has had remarkable staying power banked around classic concepts is now engaged in a battle royale with innovations in areas like mixed reality, AI, blockchain and networking, as […]<\/p>\n","protected":false},"author":1,"featured_media":25611,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-25610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nBeliever, a new approach to gaming, raises $55M from Lightspeed, a16z and more - 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