Ryu Games, a start-up that assists designers add money tournaments to their mobile video games, revealed today it has raised $2.3 million in a seed round. The funds came from a number of investors, including Side Door Ventures, MGV Capital, Velo Partnersand Citta Ventures.
In addition, 500 Start-ups participated in the round. To see the accelerator participate in the funding round is not a surprise, as TechCrunch initially caught wind of Ryu during its involvement in the most recent 500 Start-ups demo day. At the time, we were enthused by the idea of gamers wagering cash to go head-to-head with other players on mobile devices. Financiers appear to back our impression of the company.
The essence behind our bullishness on the company’s concept is that esports is cool. And though your modest servant is sufficiently ancient regarding prefer PC-based esports, younger folks enjoy mobile video gaming esports. Fair enough. Now mix in the sports-betting frenzy that we’ve seen in the United States, and you have a possibly potent cocktail.
TechCrunch caught up with Ryu Games co-founder and CEO Ross Krasner to dig in a bit more. It turns out that the original esports-y design that we envisioned for Ryu was a bit off. Instead, gamers will frequently go toe-to-toe in an asynchronous style, betting high scores in a video game against one another. Competitive “StarCraft II” this is not. However”StarCraft”is notoriously difficult to be even average at, while mobile video games are easier by nature, and thus more popular.
Possibly your moms and dads will square off versus office buddies in cash-fueled solitaire tournaments.
The money setup is basic, with Krasner comparing it to a poker competition. You bet a set quantity, and after that play. Ryu collects a cost for hosting, and after that gamers get to it.
Ryu intends to exist on a couple of dozen games this year. One matter that could slow adoption, nevertheless, is that games it partners with tend to relaunch a version of their title with Ryu’s SDK integrated in. The start-up bites back versus the work that partner-developers have to carry out by cross-promoting titles that utilize its system. If you sign up, you can do more than generate earnings. Your game might likewise discover a brand-new audience.
Like with the majority of seed-stage startups, Ryu Games is more of a bet on the future than proof of a new pattern. Let’s see how far it can get with this set of capital, specifically as vaccines take bigger and larger bites out of the pandemic that has kept us locked up for so very long.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.