Passion Punch, one of the rising stars of the mobile game world with its strong team and successful games, received a seed investment of $4 million with the web3 transformation.
Turkcell New Technologies GDP and Re-Pie Portfolio accompanied the investment tour led by Colendi. At the end of the tour, in which different angel investors also participated, the company’s valuation was $39 million.
Bringing together talented people in the fields of art and software for mobile game development and effective storytelling, Passion Punch has produced successful games that have reached more than 200 million mobile players during its three years of operation. Known mainly for the quality of its art team, the company drew attention to the power of its technology side by entering the Unity Gaming Report 2022, which sets the future trends for the gaming industry. Passion Punch, one of the rising stars of the mobile game world, received a seed investment of $4 million in the investment tour it started with the web3 transformation. Turkcell New Technologies GDP and Re-Pie Portfolio accompanied the investment tour led by Colendi. At the end of the tour, in which different angel investors also participated, the company’s valuation was $39 million.
Vugar Hasani, Co-Founder and CEO of Passion Punch, said, “We couldn’t stand by the fact that, thanks to blockchain technology, games are able to reward communities’ ownership as they deserve. We are shifting our vision completely to web3 games today, with the hope of a future where we can say, ‘We were there when that amazing change was taking place.'”
Passion Punch Co-Founder and CBSO Burak Okmen stated that with using Passion Punch’s experience in the mobile game industry, they aim to lead this market, where competition has not reached the highest levels yet, with fun and user-friendly products that bring the F2P (free to play) and web3 worlds together, have sustainable economies, and are fun and user-friendly. Okmen continued his words as follows: “We believe in achieving firsts in the web3 game industry, which we witnessed together, by using unique models in the world.”
“It is gratifying to lead this evolution”
Colendi Global CEO Bulent Tekmen said, “It is exciting for us to support Passion Punch’s transition to web3 and its vision for the future of mobile games. As the gaming industry evolves rapidly, web3 technology has the potential to create new opportunities and revenue streams for developers by providing a more inclusive and decentralized gaming ecosystem. We believe Passion Punch is well positioned to lead this evolution. We are pleased to be a part of this journey”
Re-Pie Portfolio Deputy Chairman Mehmet Ali Ergin pointed out that the gaming industry is one of the sectors they focus on: “As Re-Pie, we continue to expand our portfolio by investing in startups with a high growth potential and a technology and innovation-oriented business model. The Turkish gaming industry is one of the countries that receive the most investment from Europe. We are witnessing very successful initiatives. The gaming industry ranks first among the industries we focus on. In line with this understanding, Passion Punch was also a company on our radar and we are happy to have made our investment.”
Source: Egirisim / Prepared by Irem Yildiz