The online shooting game developer has secured a nine-digit yuan amount from Tencent as it prepares to launch a sequel to its most popular title.
Internet group Tencent provided ‘several hundreds of millions’ of yuan (RMB100m = $15.3m) for China-based PC and mobile game developer Wizard Games Global yesterday.
Founded in 2010, Wizard develops mobile and browser-based online games, and has built a stable of more than 10 titles including Battle Teams, a multiplayer online shooting game it claims has more than 500 million registered users and 30 million monthly active users.
The company is preparing to release a sequel called Battle Teams 2 in 2021 and is currently engaging in hot testing. It also expects to launch a maritime-themed sandbox construction game called Sea of Craft next year.
Tencent, the largest game publisher worldwide by revenue, intends to provide resources for Wizard, which will spend the funding on expanding the size of its 300-strong team.
Other game developers to have received equity financing from Tencent in 2020 include Voodoo, Lockwood Publishing and Roblox, which filed for a $1bn initial public offering last month.
