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Riot Games Files Motion to End Deal with FTX

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Riot Games, the company behind such titles as League of Legends and Valorant, has filed a motion to end its deal with cryptocurrency company FTX following the epic collapse of the market, and FTX folding.

According to researcher Molly White via Twitter, the company attributed the decision to FTX’s filing for bankruptcy.

“There is simply no way for FTX to cure the reputational harm already caused to Riot as a result of the highly public disrepute wrought by the debacle preceding FTX’s bankruptcy filing. FTX cannot turn back the clock and undo the damage inflicted on Riot in the wake of its collapse,” Riot Games said, reportedly.

The two sides initially partnered up via an advertising deal in 2021 which would see Riot Games promote FTX’s brand in connection with its esports circuit, the League of Legends Championship series.

FTX owed Riot $12.5 million but so far has only covered $6.2 million of that balance during 2022, and in 2023 FTX would need to pay $12,875,000, with payments continuing to grow until the year 2028.

Riot Games also noted their criticism of the fall of FTX and arrest of FTX founder Sam Bankman-Fried as among the reasons that they decided to end the deal.

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Epic Games Store Hits $820 Million in Player Spending During 2022

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Epic Games has officially released financial data related to it’s growing marketplace on PC, showing that $820 million was spent on the Epic Games Store during the 2022 year, and promised support for third-party subscription services and new ‘content hubs’ to help companies promote their titles.

According to the data:

The numbers

  • Total users of Epic Games Store PC: 230 million (up 19% year-on-year)
  • Epic cross-platform accounts: 732 million
  • Daily active users peak: 34.3 million
  • Monthly active users: 68 million (up 10%)
  • Total spending, incl. Epic’s games: $820 million (down 2%)
  • Spending on third-party games: $355 million (up 18%)
  • Free games claimed: 700 million
  • Number of new PC releases: 626
  • Total library of PC games: 1,548 (up 68%)

Epic Games stated on it’s blog that more PC games launched during the 2022 year than in any year prior.

Fortnite, Grand Theft Auto 5, Rocket League, Genshin Impact, and Tiny Tina’s Wonderlands were among the most popular titles related to player engagement and player spending, and Epic Games looks to deepen their focus in 2023 as they aim to improve the store launcher’s performance.

Epic Games also aims to add support for subscription services from third-party publishers and live service products by the end of the 2023 year, adding that they are also working on ‘content hubs’ which will be separate from product pages and will enable publishers to “share information with users in a robust editorial format.”

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California Judge Dismisses Gamers Lawsuit Filed Against Microsoft

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A federal judge in San Francisco has ruled that the group of 10 plaintiffs “[lacked] allegations” in their lawsuit filed last year that claimed Microsoft’s ownerships of Activision Blizzard would harm consumers and competition in the video games market, according to a filing shared by Reuters.

While US District Judge Jacqueline Corley dismissed the case, she also gave the plaintiffs 20 days to refine their lawsuit and resubmit it, and the group’s lawyer, Joseph Saveri, said that there are plans to officially submit an amended lawsuit with “additional factual detail” that will address the judge’s concerns.

It marks a victory for Microsoft, but their battles are far from over as they still face a hearing over the Federal Trade Commission’s legal complaint, which is currently slated to take place in August of this year.

Microsoft and Activision Blizzard originally expected the transaction to be complete by June 30, 2023.

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Super Evil Megacorp Expanding Team for Netflix Project

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Catalyst Black developer Super Evil Megacorp has expanded their team following the announcement of their new partnership with content streaming platform Netflix, which include new additions from big name brands like Blizzard, Ubisoft, and Rockstar Games, according to MobileGamer.biz.

These are some of the appointments:

  • Tim Hume – lead gameplay tech engineer
  • JC Simbulan – lead animator
  • Steven Goodwin – senior technical engineer
  • Jurie Horneman – lead narrative engineer
  • Cassandre Beaumier – production director
  • Milo Casali – senior level designer

Netflix’s vice president and head of external games Leanne Loombe commented on the new title in the works for Netflix.

“It’s a big bet for us and we’re very much focused on creating an ecosystem around the streaming content and the game,” Loombe said. “It’s really a transmedia play for us in this brand new IP.”

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