Despite the significant decline in 2022, Gfinity (LON: GFIN) shares are up 8% so far this year after the company announced that Athlos Game Technologies has entered a one-year rolling commercial deal with the mobile game operator, Playgendary.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
The announcement has so far pushed Gfinity shares 6% higher on Wednesday.
The deal will see Playgendary pay Athlos a monthly fee based on the number of active users.
Top Broker Recommendation
- BlackBull 26,000+ Shares, Options, ETFs, Bonds, and other underlying assets – Read our Review
- Admiral Markets More than 4500 stocks & over 200 ETFs available to invest in – Read our Review
- Hargreaves Lansdown The company's website is easily understandable and accessible to a wide range of customers – Read our Review
- eToro Wide range of instruments available to trade – Read our Review
- IG Top-tier regulation – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Athlos, which is 100% owned by Gfinity, will see its Athlos Tournament Platform integrated into Playgendary games starting in 2023, with the game titles announced when ready to be launched.
Gfinity launched Athlos Gaming Technologies in August 2022, with the newly formed company providing its clients with a competition platform that it says will deepen player engagement, lower player churn, and increase average revenue per user. It is currently being used for esports tournaments in three of the most popular mobile games.
The deal will see Playgendary pay Athlos a monthly fee based on the number of active users.
“Playgendary is one of the world's leading mobile game publishers with excellent games and a strong pipeline of new titles many of which benefit from competitive play,” commented Gfinity Chairman Neville Upton.
“The commercial model means that as competitive play within the games grow so does Athlos' recurring revenue stream. This is one of many similar deals that we aim to enter into with game publishers big and small.”
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.