London-based esports organization Fnatic has announced a strategic partnership and investment with cryptocurrency-focused investment firm Hivemind Capital.

Along with Hivemind, other web3 organizations joining this investment round include GuildFi, IndiGG, Paribu Ventures, Polygon, Presto Labs, Trinito and WW Ventures, with the goal of “helping enable digital asset ownership and turnkey solutions.” in hand for new games to build strong economies”. ‘.

The deal is intended to “accelerate Fnatic’s ability to partner with, as well as natively develop and scale web3 applications on its award-winning esports platform,” according to a press release. Web3 is a term used to describe the next iteration of the internet with a focus on blockchain, tokens, and decentralization.

Fnatic says the strategic partnership will allow them to expand beyond existing partnerships and further develop their own native web3 applications to boost player performance.

Hivemind’s endorsement will also help build momentum towards Fnatic’s long-term goals of “scaling gaming economies through broader creation and ownership of digital assets” and is part of Fnatic’s goal of pursuing additional web3 opportunities. .

The news comes just over a year after Fnatic announced a partnership with Crypto.com in a multi-year deal worth over £10 million. Fnatic’s other web3 activities include their gaming partnerships, such as the recently announced Guild of Guardians collaboration, or the launch of Fnatic’s web3-powered membership program.

“Fnatic and their global fan base represent exactly the type of web3-ready franchise we’re excited about,” said Matt Zhang, founder and managing partner of Hivemind.

“The iconic Fnatic brand is a pioneer in the esports space, and the management team has built a strong, technology-enabled business with a track record of many years. We believe that gaming as an industry is uniquely aligned with blockchain applications and functionality, making Fnatic a natural candidate for sponsored acceleration of its web3 efforts.”

“We believe that games are quickly becoming platforms for their communities,” added Sam Mathews, founder and CEO of Fnatic.

“So while scaled web3 gaming is still a while away, blockchain-enabled digital assets and applications are accelerators for gaming 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 is transparent, thriving and enables millions of more gamers are making a living from gaming. ”

In other recent Fnatic news, the organization has launched a lofi hip-hop music label and a custom Fnatic x BMW Vision Mouse.

Dom is an award-winning writer who graduated from Bournemouth University with a 2:1 degree in multimedia journalism in 2007.

As a longtime gamer who first picked up the NES controller in the late ’80s, he has written for a variety of publications including GamesTM, Nintendo Official Magazine, industry publication MCV, as well as Riot Games and others. He served as Head of Content for the British Esports Association until February 2021, when he returned to work full-time at Esports News UK and as an esports consultant helping brands and companies better understand the industry.