Ex Populus, the Web3 game developer, has announced the addition of two prominent creators in the NFT space, Deeze and Farokh, as key members of the Ex Populus advisory board. DeezFi and Farokh have both been long-time collaborators with Ex Populus co-founder Soban Saqib (@Sobylife) and have kept a close eye on Ex Populus developments over the past year.
"I'm excited to help Ex Populus become the best Web3 game developer possible. We've been talking closely throughout the last year of building and I've been impressed. Tobias, Soby, and the rest of the team have a grand vision for the space and the team to pull it off. I believe gaming + social applications are what will bring the next 10,000,000+ people to the web3 space and I'm stoked to help in this mission," said Deeze, Director of Vibes at Fractional
Farokh and Deeze will provide additional guidance and insight to the Ex Populus team on all of their projects moving forward to maximize the potential that Web3 communities will play Ex Populus games and embrace the related NFT collections. Ex Populus has continued to attract A-list talent to its Advisory Board throughout 2022, a clear signal that the company is quickly climbing the ranks of elite Web3 game companies.
"As someone who is passionate about onboarding people into Web3 and building communities, I am looking forward to helping Ex Populus onboard gamers into space. I am happy to provide my insights to this amazing team, who has shown that they are capable to attract world-class game and animated film talent to their growing team," said Farokh, co-creator of Rug Radio
"Thanks to my co-founder, Soby, we are privileged and delighted to have Deeze and Farokh join our counsel of key industry talent to provide their insights and influence the direction of the company and its games," said Tobias Batton , co-founder and CEO of Ex Populus.
Ex Populus is backed by Animoca, Com2US, CMS, CitizenX and several other prominent game and Web3 investors. The company has sold out multiple collectible drops over the past year including LAMO action figures, The Decentralized Autonomous GigaUnits trading cards and is expected to drop Mike Tyson's Iron Pigeons trading card set when their first game, Final Form, hits early access later this year.
About Ex Populus
The Ex Populus Vision is to bring joy to people around the globe with the world's most compelling games and entertainment at the highest level possible. Ex Populus' mission is to work with the next generation of elite content creators and bring their games to Web3 and the Metaverse.
Socials
Web: https://expopulus.com/
Discord: https://discord.gg/expopulus
Twitter: https://twitter.com/ExPopulus 
View original content to download multimedia: https://www.prnewswire.com/news-releases/ex-populus-the-web3-game-studio-join-forces-with-deeze-and-farokh-nft-thought-leaders-301605354.html
SOURCE Ex Populus
News Provided by PR Newswire via QuoteMedia
East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.
Watch the launch trailer here . 
" The Office: Somehow We Manage offers players the chance to immerse themselves in iconic moments from the series and connect with their favorite characters like never before," said Darcy Taylor , Chief Executive Officer of ESGG. "Fans of The Office will absolutely feel the nostalgia through this new game."
" The Office: Somehow We Manage reimagines the cast as vibrant, animated characters for the first time, bringing a fresh new experience to The Office fans everywhere," said Jim Molinets , SVP of Production, Universal Games and Digital Platforms. "The game will transport players into well-known and hilarious episodes that have resonated with so many over the years and let them 'clock in' even more time with their favorite Dundler Mifflin employees."
The Office: Somehow We Manage will allow fans to relive memorable moments from the show like they've never seen them before – animated, all while tapping their way to record profits to save the Scranton Branch from downsizing. Featuring accessible gameplay for all types of players, this narrative idle tapper will give players the chance to unlock and upgrade iconic characters and their desks all the while participating in monthly special events for additional in-game rewards.
GAME FEATURES
COLLECT ICONIC CHARACTERS IN GAME
Tap, upgrade, and build desks for favorite characters from the hit NBC comedy The Office , including Prison Mike, Farmer Dwight, Pretzel Day Stanley, and of course, Three Hole Punch Jim, all appearing in animated form for the first time.
RELIVE MEMORABLE EPISODES FROM THE OFFICE [U.S.]
Click through memorable episodes in this free-to-play game, like "The Dundies" and "Dinner Party." Take a seat in Michael's office, get in line for Pretzel Day, or spend the weekend at Schrute Farms. Oh, and watch out for Kevin's famous chili! Additional episodes from all nine seasons of the show will be added to the game on a regular basis.
SPECIAL EVENTS
In-game events will introduce new versions of characters and more memorable moments, along with weekly and monthly special events inspired by elements from the show.
EARN IN-GAME REWARDS TO KEEP THE BRANCH AFLOAT
Manage Dunder Mifflin Scranton with the help of the whole branch! Get new leads and tap away as the in-game rewards start rolling in. Just make sure Michael doesn't spend the surplus on a new plasma TV!
Players can now run the world's best mid-size regional paper company branch in The Office: Somehow We Manage , available now on iOS and Android.
Visual assets for the game, including key art and logos, can be found in the online press kit .
ABOUT EAST SIDE GAMES GROUP
East Side Games Group (formerly operating under the name "LEAF Mobile Inc.") is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: Archer: Danger Phone, Bud Farm Idle Tycoon, Cheech & Chong Bud Farm , The Goldbergs: Back to the 80s, It's Always Sunny: The Gang Goes Mobile and Trailer Park Boys Grea$y Money , RuPaul's Drag Race Superstar and T he Office: Somehow We Manage .
We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. For further information, please visit: www.eastsidegamesgroup.com and join our online communities at LinkedIn , Twitter , Facebook , and Instagram .
Additional information about the Company continues to be available under its legal name, LEAF Mobile Inc., at www.sedar.com .
ABOUT NBC'S THE OFFICE
Produced by Universal Television in association with Deedle-Dee Productions and Reveille Productions, The Office is a groundbreaking mockumentary television series that follows the daily lives of the employees of the Scranton branch of Dunder Mifflin, a fictional paper company. All nine seasons of the Emmy® Award-winning series are available exclusively on Peacock.
ABOUT PEACOCK
Peacock is NBCUniversal's streaming service. Peacock delivers a world-class slate of exclusive originals, on-demand libraries of hit TV shows, plus critically acclaimed films from the vaults of Universal Pictures, Focus Features, DreamWorks Animation, Illumination and Hollywood's biggest studios. In addition, Peacock taps into NBCUniversal's unmatched ability to deliver a broad range of compelling topical content across news, sports, late-night, Spanish-language and reality. NBCUniversal is a subsidiary of Comcast Corporation.
ABOUT UNIVERSAL GAMES AND DIGITAL PLATFORMS
Universal's Games and Digital Platforms group leverages the vast portfolio of IP and characters from NBCUniversal. The Games and Digital Platforms group is a business unit of Universal Brand Development, which is chartered with globally expanding the company's intellectual properties, franchises, characters and stories through innovative physical and digital products, content, and consumer experiences. The company's extensive portfolio includes properties created by Universal Pictures, Illumination, DreamWorks Animation and NBCUniversal Television and Streaming. Universal Brand Development is part of NBCUniversal, a subsidiary of Comcast Corporation. www.universalbranddevelopment.com .
Forward-looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release. 
SOURCE East Side Games Group
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/27/c5121.html
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HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a leading game live streaming platform in China today announced its unaudited financial results for the second quarter ended June 30, 2022 .
Second Quarter 2022 Highlights
"Our steady focus on content enrichment and product upgrades continues to drive value for our users and pave the way for our sustainable, long-term growth. For the second quarter of 2022, Huya Live's mobile MAUs maintained solid momentum, growing 7.7% year-over-year to 83.6 million," said Mr. Rongjie Dong , Chief Executive Officer of Huya. "While the turbulence in the macro and regulatory environment has decelerated our monetization in the short term, we remain confident in the broad-based strength of our solid business foundation that underpins our ability to satisfy our users' core needs. As a leader in the game live streaming market in China , we are constantly iterating our technology and products to provide high-quality, compliant content for our users and amplify our value proposition with our stakeholders across the game industry value chain."
Ms. Ashley Xin Wu , Vice President of Finance of Huya, commented, "Against the backdrop of macro headwinds, our revenues were approximately RMB2.3 billion for the second quarter of 2022, and our gross profit came in at RMB219.1 million as we continued our strategic efforts in ramping up investment in new and relevant content. We believe we are well-positioned to drive continued momentum in our user community expansion. Despite external uncertainties, we remain diligent in improving our operational efficiency and optimizing our business expenses in a nimble way, delivering 17.0% quarter-over-quarter and 21.6% year-over-year deductions in total operating expenses. Going forward, we aim to further strengthen our monetization capabilities, improve our cost and expense structure, and solidify our business fundamentals to achieve sustainable business development over the long term."
[1] "Non-GAAP net income attributable to HUYA Inc." is defined as net (loss) income attributable to HUYA Inc. excluding (i) share-based compensation expenses, (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. For more information, please refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release.
[2] Refers to average monthly active users on mobile apps. Average mobile MAUs for any period is calculated by dividing (i) the sum of active users on the mobile apps for each month during such relevant period, by (ii) the number of months during such relevant period.
[3] Refers to the sum of user accounts that purchased various products and services on our platform at least once during such relevant period.
Second Quarter 2022 Financial Results
Total net revenues for the second quarter of 2022 were RMB2,275.2 million ( US$339.7 million ), compared with RMB2,962.4 million for the same period of 2021.
Live streaming revenues were RMB2,051.9 million ( US$306.3 million ) for the second quarter of 2022, compared with RMB2,579.2 million for the same period of 2021, primarily due to decreased average spending per paying user on Huya Live, as the recent macro and regulatory environment adversely affected the sentiment of the Company's paying users.
Advertising and other revenues were RMB223.3 million ( US$33.3 million ) for the second quarter of 2022, compared with RMB383.2 million for the same period of 2021, primarily due to the decrease in content sub-licensing revenues, as well as soft demand for advertising services resulting from the challenging macro environment.
Cost of revenues decreased by 13.6% to RMB2,056.1 million ( US$307.0 million ) for the second quarter of 2022 from RMB2,381.1 million for the same period of 2021, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth costs.
Revenue sharing fees and content costs decreased by 13.3% to RMB1,767.8 million ( US$263.9 million ) for the second quarter of 2022 from RMB2,039.2 million for the same period of 2021, primarily due to the decrease in revenue sharing fees associated with declined live streaming revenues.
Bandwidth costs decreased by 9.9% to RMB154.4 million ( US$23.0 million ) for the second quarter of 2022 from RMB171.4 million for the same period of 2021, primarily due to improved bandwidth cost management and continued technology enhancement efforts.
Gross profit was RMB219.1 million ( US$32.7 million ) for the second quarter of 2022, compared with RMB581.3 million for the same period of 2021, primarily due to lower revenues. Gross margin was 9.6% for the second quarter of 2022, compared with 19.6% for the same period of 2021.
Research and development expenses decreased by 19.0% to RMB168.4 million ( US$25.1 million ) for the second quarter of 2022 from RMB207.9 million for the same period of 2021, primarily due to the decrease in share-based compensation expenses.
Sales and marketing expenses decreased by 40.0% to RMB100.3 million ( US$15.0 million ) for the second quarter of 2022 from RMB167.0 million for the same period of 2021, primarily due to decreased marketing and promotion fees as well as personnel-related expenses.
General and administrative expenses increased by 13.5% to RMB81.8 million ( US$12.2 million ) for the second quarter of 2022 from RMB72.1 million for the same period of 2021, primarily due to the increase in professional service fees and personnel-related expenses.
Other income was RMB50.3 million ( US$7.5 million ) for the second quarter of 2022, compared with RMB47.6 million for the same period of 2021.
Operating loss was RMB81.1 million ( US$12.1 million ) for the second quarter of 2022, compared with operating income of RMB181.9 million for the same period of 2021.
Interest and short-term investments income were RMB65.6 million ( US$9.8 million ) for the second quarter of 2022, compared with RMB57.7 million for the same period of 2021.
Income tax expenses were RMB1.3 million ( US$0.2 million ) for the second quarter of 2022, compared with RMB58.3 million for the same period of 2021, primarily due to the lower taxable income.
Net loss attributable to HUYA Inc. was RMB19.4 million ( US$2.9 million ) for the second quarter of 2022, compared with net income attributable to HUYA Inc. of RMB186.3 million for the same period of 2021.
Non-GAAP net income attributable to HUYA Inc. , which excludes share-based compensation expenses, was RMB5.9 million ( US$0.9 million ) for the second quarter of 2022, compared with RMB250.1 million for the same period of 2021, which excludes share-based compensation expenses, gains on fair value change of investments and equity investees' investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes.
Diluted net loss per American depositary share ("ADS") was RMB0.08 (US$0.01) for the second quarter of 2022, compared with diluted net income per ADS of RMB0.77 for the same period of 2021. Each ADS represents one Class A ordinary share of the Company.
Non-GAAP diluted net income per ADS was RMB0.02 (US$0.004) for the second quarter of 2022, compared with RMB1.04 for the same period of 2021.
As of June 30, 2022 , the Company had cash and cash equivalents, short-term deposits and short-term investments of RMB10,716.7 million ( US$1,600.0 million ), compared with RMB10,473.4 million as of March 31, 2022 .
Conference Call
The Company's management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on August 16, 2022 ( 7:00 p.m. Beijing / Hong Kong time on August 16, 2022 ).
For participants who wish to join the call, please complete online registration using the link provided below 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.
Participant Online Registration: https://register.vevent.com/register/BIa451f7eabc6c4462aa4aa81302702803
Once complete the registration, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the personal PIN as instructed to connect to the call.
A live webcast of the earnings call will be accessible at https://ir.huya.com and a replay of the webcast will be available following the session.
About HUYA Inc.
HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with e-sports event organizers, as well as major game developers and publishers, and has developed e-sports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China's young generation. Building on its success in game live streaming, Huya has also extended its content to other entertainment content genres. Huya's open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), except that the consolidated statement of changes in shareholders' equity, consolidated statements of cash flows, and the detailed notes have not been presented. Huya uses non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) attributable to HUYA Inc., non-GAAP net income (loss) attributable to ordinary shareholders, non-GAAP basic and diluted net income (loss) per ordinary shares, and non-GAAP basic and diluted net income (loss) per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating income (loss) is operating income (loss) excluding share-based compensation expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is net income (loss) attributable to HUYA Inc. excluding share-based compensation expenses, gains on fair value change of investments and equity investee's investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. Non-GAAP net income (loss) attributable to ordinary shareholders is net income (loss) attributable to ordinary shareholders excluding share-based compensation expenses, gains on fair value change of investments and equity investee's investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. Non-GAAP basic and diluted net income (loss) per ADS is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income (loss) per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, and (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business, and (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes, which may recur when there is observable price change in the future. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.
The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "HUYA Inc. Reconciliations of GAAP and Non-GAAP Results" at the end of this announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.6981 to US$1.00 , the noon buying rate in effect on June 30, 2022 , in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Huya's strategic and operational plans, contain forward-looking statements. Huya may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Huya's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huya's goals and strategies; Huya's future business development, results of operations and financial condition; the expected growth of the game live streaming market; the expectation regarding the rate at which to gain active users, especially paying users; Huya's ability to monetize the user base; Huya's efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China ; the impact of the COVID-19 to Huya's business operations and the economy in China and elsewhere generally; any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Huya does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China :
HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com
In the United States :
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com
HUYA INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except share, ADS, per share data and per ADS data)
As of December 31,
As of June 30,
2021
2022
2022
RMB
RMB
US$
Assets
Current assets
Cash and cash equivalents
1,790,784
2,068,235
308,779
Restricted cash
55,670
9,543
1,425
Short-term deposits
8,351,945
8,646,060
1,290,823
Short-term investments
816,331
2,442
365
Accounts receivable, net
88,034
57,397
8,569
Amounts due from related parties, net
148,560
161,490
24,110
Prepayments and other current assets, net
664,945
790,213
117,976
Total current assets
11,916,269
11,735,380
1,752,047
Non-current assets
Deferred tax assets
20,245
54,358
8,115
Investments
608,617
899,284
134,260
Property and equipment, net
79,611
129,101
19,274
Intangible assets, net
83,942
72,090
10,763
Right-of-use assets, net
395,371
380,032
56,737
Prepayments and other non-current assets
150,887
132,148
19,729
Total non-current assets
1,338,673
1,667,013
248,878
Total assets
13,254,942
13,402,393
2,000,925
Liabilities and shareholders' equity
Current liabilities
Accounts payable
12,579
37,164
5,548
Advances from customers and deferred revenue
459,509
431,952
64,489
Income taxes payable
5,944
28,258
4,219
Accrued liabilities and other current liabilities
1,845,452
1,569,763
234,360
Amounts due to related parties
216,128
166,010
24,785
Lease liabilities due within one year
36,473
39,806
5,943
Total current liabilities
2,576,085
2,272,953
339,344
Non-current liabilities
Lease liabilities
45,084
29,200
4,359
Deferred tax liabilities
4,597
20,533
3,065
Deferred revenue
118,975
93,564
13,969
Total non-current liabilities
168,656
143,297
21,393
Total liabilities
2,744,741
2,416,250
360,737
HUYA INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except share, ADS, per share data and per ADS data)
As of December 31,
As of June 30,
2021
2022
2022
RMB
RMB
US$
Shareholders' equity
Class A ordinary shares (US$0.0001 par value;
750,000,000 shares authorized as of December
31, 2021 and June 30, 2022 , respectively;
86,993,764 and 88,833,919 shares issued and
outstanding as of December 31, 20 2 1 and June
30, 2022, respectively)
58
59
9
Class B ordinary shares (US$0.0001 par value;
200,000,000 shares authorized as of December
31, 2021 and June 30, 2022, respectively;
151,076,517 and 150,386,517 shares issued and
outstanding as of December 31, 2021 and June
30, 2022, respectively)
99
98
15
Additional paid-in capital
11,764,059
11,847,729
1,768,819
Statutory reserves
122,429
122,429
18,278
Accumulated deficit
(1,300,144)
(1,322,824)
(197,492)
Accumulated other comprehensive income
(76,300)
338,652
50,559
Total shareholders' equity
10,510,201
10,986,143
1,640,188
Total liabilities and shareholders' equity
13,254,942
13,402,393
2,000,925
HUYA INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All amounts in thousands, except share, ADS, per share data and per ADS data)
Three Months Ended
Six Months Ended
June 30,
2021
March 31,
2022
June 30,
2022
June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2022
RMB
RMB
RMB
US$
RMB
RMB
US$
Net revenues
Live streaming
2,579,178
2,151,704
2,051,920
306,344
4,971,453
4,203,624
627,585
Advertising and others
383,197
312,847
223,254
33,331
595,706
536,101
80,038
Total net revenues
2,962,375
2,464,551
2,275,174
339,675
5,567,159
4,739,725
707,623
Cost of revenues (1)
(2,381,056)
(2,130,974)
(2,056,054)
(306,961)
(4,471,952)
(4,187,028)
(625,107)
Gross profit
581,319
333,577
219,120
32,714
1,095,207
552,697
82,516
Operating expenses (1)
Research and development expenses
(207,899)
(196,251)
(168,411)
(25,143)
(406,970)
(364,662)
(54,443)
Sales and marketing expenses
(167,045)
(145,065)
(100,264)
(14,969)
(311,630)
(245,329)
(36,627)
General and administrative expenses
(72,130)
(80,774)
(81,839)
(12,218)
(156,221)
(162,613)
(24,277)
Total operating expenses
(447,074)
(422,090)
(350,514)
(52,330)
(874,821)
(772,604)
(115,347)
Other income, net
47,643
28,278
50,283
7,507
123,611
78,561
11,729
Operating income (loss)
181,888
(60,235)
(81,111)
(12,109)
343,997
(141,346)
(21,102)
Interest and short-term investments income
57,729
59,202
65,633
9,799
122,859
124,835
18,637
Gain on fair value change of investments
3,593
7,602
–
–
3,593
7,602
1,135
Foreign currency exchange gains (losses),
net
722
(64)
(2,860)
(427)
(1,538)
(2,924)
(437)
I ncome (loss) before income tax expenses
243,932
6,505
(18,338)
(2,737)
468,911
(11,833)
(1,767)
Income tax expenses
(58,291)
(9,401)
(1,295)
(193)
(97,701)
(10,696)
(1,597)
Income (loss) before share of loss in equity
method investments, net of income taxes
185,641
(2,896)
(19,633)
(2,930)
371,210
(22,529)
(3,364)
Share of income (loss) in equity method
investments, net of income taxes
610
(418)
267
40
579
(151)
(23)
Net income (loss) attributable to HUYA Inc.
186,251
(3,314)
(19,366)
(2,890)
371,789
(22,680)
(3,387)
Net income (loss) attributable to ordinary
shareholders
186,251
(3,314)
(19,366)
(2,890)
371,789
(22,680)
(3,387)
HUYA INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All amounts in thousands, except share, ADS, per share data and per ADS data)
Three Months Ended
Six Months Ended
June 30,
2021
March 31,
2022
June 30,
2022
June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2022
RMB
RMB
RMB
US$
RMB
RMB
US$
Net income (loss) per ADS*
— Basic
0.78
(0.01)
(0.08)
(0.01)
1.57
(0.09)
(0.01)
— Diluted
0.77
(0.01)
(0.08)
(0.01)
1.54
(0.09)
(0.01)
Net income (loss) per ordinary share
— Basic
0.78
(0.01)
(0.08)
(0.01)
1.57
(0.09)
(0.01)
— Diluted
0.77
(0.01)
(0.08)
(0.01)
1.54
(0.09)
(0.01)
Weighted average number of ADS used in
calculating net income per ADS
— Basic
238,105,367
239,746,395
241,341,080
241,341,080
237,358,048
240,549,059
240,549,059
— Diluted
241,536,071
239,746,395
241,341,080
241,341,080
241,727,114
240,549,059
240,549,059
* Each ADS represents one Class A ordinary share.
(1) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Three Months Ended
Six Months Ended
June 30,
2021
March 31,
2022
June 30,
2022
June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2022
RMB
RMB
RMB
US$
RMB
RMB
US$
Cost of revenues
12,969
13,112
3,667
547
29,590
16,779
2,505
Research and development expenses
32,226
23,251
7,275
1,086
68,967
30,526
4,557
Sales and marketing expenses
1,670
1,644
249
37
3,561
1,893
283
General and administrative expenses
20,636
18,746
14,045
2,097
45,760
32,791
4,896
HUYA INC.
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands, except share, ADS, per share data and per ADS data)
Three Months Ended
Six Months Ended
June 30,
2021
March 31,
2022
June 30,
2022
June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2022
RMB
RMB
RMB
US$
RMB
RMB
US$
Gross profit
581,319
333,577
219,120
32,714
1,095,207
552,697
82,516
Share-based compensation expenses allocated
in cost of revenues
12,969
13,112
3,667
547
29,590
16,779
2,505
Non-GAAP gross profit
594,288
346,689
222,787
33,261
1,124,797
569,476
85,021
Operating income
181,888
(60,235)
(81,111)
(12,109)
343,997
(141,346)
(21,102)
Share-based compensation expenses
67,501
56,753
25,236
3,767
147,878
81,989
12,241
Non-GAAP operating income (loss)
249,389
(3,482)
(55,875)
(8,342)
491,875
(59,357)
(8,861)
Net income (loss) attributable to HUYA Inc.
186,251
(3,314)
(19,366)
(2,890)
371,789
(22,680)
(3,387)
Gains on fair value change of investments and
equity investee's investments; and gain
arising from partial disposal of an
investment owned by an equity investee, net of
income taxes
(3,619)
(6,842)
–
–
(3,619)
(6,842)
(1,021)
Share-based compensation expenses
67,501
56,753
25,236
3,767
147,878
81,989
12,241
Non-GAAP net income attributable to HUYA Inc.
250,133
46,597
5,870
877
516,048
52,467
7,833
Net income (loss) attributable to ordinary
shareholders
186,251
(3,314)
(19,366)
(2,890)
371,789
(22,680)
(3,387)
Gains on fair value change of investments and
equity investee's investments; and gain
arising from partial disposal of an
investment owned by an equity investee, net
of income taxes
(3,619)
(6,842)
–
–
(3,619)
(6,842)
(1,021)
Share-based compensation expenses
67,501
56,753
25,236
3,767
147,878
81,989
12,241
Non-GAAP net income attributable to
ordinary shareholders
250,133
46,597
5,870
877
516,048
52,467
7,833
Non-GAAP net income per ordinary share
—Basic
1.05
0.19
0.02
0.004
2.17
0.22
0.03
—Diluted
1.04
0.19
0.02
0.004
2.13
0.22
0.03
Non-GAAP net income per ADS
—Basic
1.05
0.19
0.02
0.004
2.17
0.22
0.03
—Diluted
1.04
0.19
0.02
0.004
2.13
0.22
0.03
Weighted average number of ADS used in
calculating Non-GAAP net income per
ADS
—Basic
238,105,367
239,746,395
241,341,080
241,341,080
237,358,048
240,549,059
240,549,059
—Diluted
241,536,071
241,014,680
241,686,424
241,686,424
241,727,114
241,222,552
241,222,552
View original content: https://www.prnewswire.com/news-releases/huya-inc-reports-second-quarter-2022-unaudited-financial-results-301606344.html
SOURCE HUYA Inc.
News Provided by PR Newswire via QuoteMedia
FaZe Holdings Inc. (Nasdaq: FAZE) ("FaZe" or the "Company"), the lifestyle and media platform rooted in gaming and youth culture, today filed its financial results for the second quarter ended June 30, 2022 with the SEC. Summary financial results are included with this press release.
Recent Business Highlights
"With our entry into the public markets now behind us, FaZe is focused on monetizing across our four verticals: sponsorships, content, merchandise and esports," said Lee Trink, Chief Executive Officer of FaZe Clan. "We are building business momentum into the second half of the year and we are working to launch new business initiatives, particularly in the creator economy and Web3."
Second Quarter Financial Results
Revenues for the second quarter were $18.8 million , an increase of 22% from the prior-year second quarter and up 19% from $15.8 million in the 2022 first quarter. The increase in revenue was primarily driven by effective scaling and growth of our business through our various revenue streams, chiefly brand sponsorships and esports. FaZe reported an Adjusted EBITDA loss of ($4.1) million in the second quarter, compared with ($6.2) million in the year-ago second quarter. 1 Adjusted EBITDA loss reflects Company investments in leadership personnel and marketing costs to drive its growth strategy.
On July 19, 2022 , FaZe completed its merger with B. Riley Principal Merger Corp. and became a publicly traded company. FaZe received aggregate net proceeds of $57.8 million in the transaction and as of that date had $61 million in cash on its balance sheet. The Company has no long-term debt obligations.
1 Adjusted EBITDA is a non-GAAP financial measure. See "Non-GAAP Reconciliation" for our definition of, and additional information about, Adjusted EBITDA and for reconciliation to net loss, the most directly comparable U.S. GAAP financial measure.
Earnings Webcast Information
FaZe Holdings Inc will host a webcast and Q&A session today at 2:00 p.m. Pacific Time to discuss the Company's second quarter financial results. The webcast of the conference call can be accessed as follows:
Event: FaZe Holdings Inc Second Quarter 2022 Earnings Conference Call
Date: Monday, August 15, 2022
Time: 2:00 p.m. Pacific Time ( 5:00 p.m. Eastern Time )
Webcast: https://events.q4inc.com/attendee/243466355
Toll Free Dial-In: 1 (888) 440-6928
Toll Dial-In: 1 (646) 960-0328
Dial-In Conference ID: 1341513
An archived webcast of the conference call will also be accessible on FaZe Holdings Inc.'s Investor Relations page, https://investor.fazeclan.com .
About FaZe Holdings Inc:
FaZe Holdings Inc. (Nasdaq: FAZE) is a digital-native lifestyle and media platform rooted in gaming and youth culture, reimagining traditional entertainment for the next generation. Founded in 2010 by a group of kids on the internet, FaZe Clan was created for and by Gen Z and Millennials, and today operates across multiple verticals with transformative content, tier-one brand partnerships, a collective of notable talent, and fashion and consumer products. Reaching over 500 million followers across social platforms globally, FaZe Clan delivers a wide variety of entertainment spanning video blogs, lifestyle and branded content, gaming highlights and live streams of highly competitive gaming tournaments. FaZe Clan's roster of more than 85 influential personalities consists of engaging content creators, esports professionals, world-class gamers and a mix of talent who go beyond the world of gaming, including NFL star Kyler "FaZe K1" Murray, Lebron "FaZe Bronny" James Jr., Lil Yachty aka "FaZe Boat," Offset aka "FaZe Offset" and Snoop Dogg aka "FaZe Snoop." Its gaming division includes 11 competitive esports teams who have won 35 world championships. For more information, visit www.fazeclan.com , investor.fazeclan.com and follow FaZe Clan on Twitter, Instagram, YouTube, TikTok, and Twitch. The content of any website referenced or hyperlinked in this communication is neither incorporated into, nor part of, this communication.
FORWARD LOOKING STATEMENTS:
The information in this communication includes "forward-looking statements" pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included in this communication, regarding the company's strategy, future operations and financial performance, estimated financial position, estimated revenue and losses, projections of market opportunity and market share, projected costs, prospects, plans and objectives of management are forward-looking statements. These forward-looking statements generally are identified by the words "budget," "could," "forecast," "future," "might," "outlook," "plan," "possible," "potential," "predict," "project," "seem," "seek," "strive," "would," "should," "may," "believe," "intend," "expects," "will," "projected," "continue," "increase," and/or similar expressions that concern strategy, plans or intentions, but the absence of these words does not mean that a statement is not forward-looking. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on the management's belief or interpretation of information currently available.
These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of management and are not predictions of actual performance. Because forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, whether or not identified in this communication, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Many factors could cause actual results and condition (financial or otherwise) to differ materially from those indicated in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the company. Forward-looking statements speak only as of the date they are made. While FaZe Clan may elect to update these forward-looking statements at some point in the future, FaZe Clan specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing FaZe Clan's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
CONTACTS
Investors
ir@fazeclan.com
Media
chelsey.northern@fazeclan.com
NON-GAAP RECONCILIATION
This earnings release includes adjusted EBITDA, which is a non-GAAP measure that we use to supplement our results presented in accordance with U.S. GAAP. Adjusted EBITDA is defined as net loss before share-based compensation expense, exited activities expense, foreign currency gains and losses, interest expense, provision for income taxes, depreciation and amortization, and impairment of content assets. Adjusted EBITDA is used by the FaZe board and management as a key factor in determining the quality of our earnings (loss).
Adjusted EBITDA is a performance measure that we believe is useful to investors and analysts because it illustrates the underlying financial and business trends relating to our core, recurring results of operations and enhances comparability between periods.
Adjusted EBITDA is not a recognized measure under U.S. GAAP and is not intended to be a substitute for any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.Investors should exercise caution in comparing our non-GAAP measure to any similarly titled measure used by other companies. This non-GAAP measure excludes certain items required by U.S. GAAP and should not be considered as alternatives to information reported in accordance with U.S. GAAP.
The table below presents our adjusted EBITDA, reconciled to our net loss, the most directly comparable U.S. GAAP financial measure, for the periods indicated.
Three months ended
June 30,
(in thousands)
2022
2021
Net Loss
$(9,323)
$(7,633)
Adjusted for:
Share-based compensation expense
1,509
–
Foreign exchange loss
–
–
Interest expense
2,181
1,214
Provision for income tax
–
–
Impairment of content assets
1,073
–
Depreciation and amortization
427
212
Adjusted EBITDA
$(4,133)
$(6,207)
While not included in the adjustments above, management also removes certain expenses for internal reporting purposes, as they are unpredictable and not considered core to our operations. These expense adjustments that are utilized for internal reporting purposes include expenses related to legal settlements, legal fees outside of the ordinary course of business, and severance. For the three months ended June 30, 2022 , and 2021, legal settlements totaled $0 million and $0 million , legal fees outside of the ordinary course of business totaled $0 million and $0.7 million , and severance expenses totaled $0 million and $0.1 million , respectively. 
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SOURCE FaZe Clan
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Pre-orders begin August 15 featuring World of Outlaws legend Sammy Swindell ; base game and Gold Edition available
The World of Outlaws returns to console gaming for the first time in over a decade on September 27 as World of Outlaws: Dirt Racing hits the PlayStation 4, PlayStation 5, Xbox One, and Xbox Series X|S. The official game of "The Greatest Show on Dirt" features six different dirt series, from the premier World of Outlaws NOS Energy Sprint Cars and CASE Construction Equipment Late Models to four DIRTcar classes, and more than 40 tracks, including Eldora Speedway, Knoxville Raceway, and Volusia Speedway Park. Pre-orders open on August 15 at worldofoutlawsgame.com with three-time World of Outlaws Sprint Car champion Sammy Swindell included as a special bonus for pre-orders only.
World of Outlaws: Dirt Racing is the latest dirt racing-themed title from developer Monster Games, but its first since being acquired by iRacing in late 2021. The new title takes the established Monster Games platform to a new level, with the addition of car and track models, sounds, and multiplayer technology from iRacing to elevate the authenticity and gameplay experience. All-new physics, also tuned by iRacing, and a retooled, more competitive AI add to the challenge, with real-world driver feedback held at a premium throughout the development process.
"We're thrilled to bring World of Outlaws back to console gaming with World of Outlaws: Dirt Racing ," said Monster Games founder and general manager Rich Garcia . "With the addition of iRacing resources to the established Monster platform, as well as the support of World of Outlaws, this is the most realistic, challenging, and most importantly, fun dirt racing experience ever seen on the PlayStation or Xbox. We can't wait for dirt racing fans to go wheel-to-wheel at Eldora, Knoxville, and more this fall!"
"Many of our fans have been asking for a World of Outlaws console game, and now through our partnership with iRacing we're able to deliver," World of Outlaws CEO Brian Carter said. "Whether it's PlayStation or Xbox, fans can race against World of Outlaws drivers in the most realistic game available. The team at iRacing and Monster Games has really developed an authentic option to see what it's like to race on dirt against the best in the business."
For those looking to chart a unique course through the world of dirt racing, World of Outlaws: Dirt Racing is infinitely customizable, with no shortage of fun to be had for players of all backgrounds. The all-new Career Mode structure sees drivers start as a local rookie, working hard to upgrade their equipment and become more competitive as they look to advance to the national World of Outlaws tours. Drivers can race any vehicle available to them in Career Mode at any time, and with an all-new Car Creator that includes more layers and shapes, can bring just about any design imaginable to the track.
No matter your dirt racing car or track preference, World of Outlaws: Dirt Racing has you covered. Sprint car racers can do battle in the 305, 360, and World of Outlaws 410 Sprint Car divisions, while World of Outlaws Super Late Models, Pro Late Models, and Street Stocks are available for those who prefer fenders. Alongside the 13 licensed tracks that will appear in the game, the remaining tracks pay homage to the soul of dirt racing in America with various lengths, layouts, and locales.
Three-time World of Outlaws NOS Energy Sprint Car Series champion Brad Sweet and 2015 CASE Late Model Series champion Shane Clanton adorn the cover, and the duo headlines a list of real-world drivers who are both playable in single-player modes and appear as opponents in Career Mode. Those who pre-order World of Outlaws: Dirt Racing will also unlock Sammy Swindell , winner of three World of Outlaws Sprint Car championships and nearly 400 Sprint Car Features in his illustrious career.
World of Outlaws: Dirt Racing will retail for $49.99 , while the Gold Edition will be available for $69.99 . The Gold Edition features all additional downloadable content for the remainder of calendar year 2022, a $35 value; 2022 DLC items will include Limaland Motorsports Park, Federated Auto Parts Raceway at I-55, and Lucas Oil Speedway, as well as two additional DIRTcar classes, UMP Modifieds and Super DIRTcar Big Block Modifieds. For those who purchase the base game, a Season Pass for downloadable content will be available for $29.99 .
For more information about World of Outlaws: Dirt Racing and to pre-order the game starting on August 15 , visit worldofoutlawsgame.com . For more information about the World of Outlaws, visit worldofoutlaws.com . For more information about iRacing and for special offers, visit iRacing.com .
Copyright and trademark info:
Copyright 2022 iRacing.com Motorsport Simulations, LLC
Additional license terms:
World of Outlaws is a registered trademark of World Racing Group, LLC. All car images, driver names and likenesses, corporate trademarks and other intellectual properties are used under license from their respective owners. 
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SOURCE iRacing.com Motorsport Simulations
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Supporters who raise $200 or more will enjoy Private Event on August 27, 2022 at Disney California Adventure ® Park, Presented by Disneyland ® Resort
Gamers for CHOC, an initiative that rallies employees, players, and communities from local games-related studios, businesses, and groups, is back for its second year to support Children's Hospital of Orange County . The program raised nearly $200,000 in 2021, contributing to health care programs, education, and research for southern California's kids.
Gamers for CHOC invites members of the larger gaming community to get involved by donating on behalf of a participating team or signing up to join a team as a fundraiser on the CHOC Walk site. Top fundraisers across Gamers for CHOC teams can earn unique prizes and experiences from participating organizations. This year's companies includes some of the most notable names in the gaming industry:
Amazon Games
AWS for Games
Blue Silver Studios
BITKRAFT Ventures
Dreamhaven
Esports Arena
Frost Giant Studios
Gay Gaming Professionals
Humble Bundle
inXile entertainment
Konami
Mattering Lab
Obsidian Entertainment
Pragma Platform
Rally Cry
Riot Games
Second Dinner
Square Enix
UCI Esports
Unbroken Studios
Individuals who raise $200 or more can also attend "CHOC Adventure in the Park," where for one night only, Disney California Adventure ® Park will come to life with exclusive experiences just for CHOC enthusiasts, including:
"We are thrilled to partner with Gamers for CHOC again this year," said Zachariah L. Abrams , Assistant Vice President of Community Engagement at CHOC Children's Foundation. "Last year's effort was extremely successful and we are so thankful to the community of gamers who support CHOC and the kids who we help. We look forward to seeing which teams rise to the top this year."
Gamers for CHOC will host a standalone hub on the CHOC Walk website that will aggregate information across all participating teams. It features a leaderboard to encourage friendly competition between companies and highlight the participating teams, how many members they have, and how much money they've raised. The hub will also feature a running total of how many dollars have been raised as a part of the overall initiative.
Sign-up information on Gamers for CHOC can be found HERE .
For more information, please visit: www.gamersforchoc.org 
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SOURCE Gamers for CHOC
News Provided by PR Newswire via QuoteMedia
Regression Games, the AI gaming and esports company, today announced it has closed $4.2M in seed funding led by New Enterprise Associates (NEA) with participation from Andreesen Horowitz (a16z), BBQ Capital, Roosh Ventures, and various angel investors to bring the power of artificial intelligence (AI) to gaming and esports. Regression Games plans to use the new capital to grow their engineering team and accelerate the development of their initial platform to test AI-driven gaming, in partnership with existing games and game studios.
Regression Games is building the platform and ecosystem to make AI gaming and esports accessible and enjoyable for everyone. The platform will enable players to write code and AIs that control characters, debug strategies in real-time, compete for prizes in tournaments and top spots on leaderboards, and collaborate with friends to build the best bots possible. Rather than traditional game playing where players utilize a controller or mouse and keyboard, Regression Games users will program algorithms and machine learning models to battle others. The AI platform will be made to integrate with both existing games and original games developed by Regression Games. With more than 3.2 billion gamers around the world, 175 US collegiate esport programs, and over 47% of US high schools teaching computer science, this intersection of gaming and coding is poised to grow over the years to come. By 2028, the video game industry is estimated to be worth over $435bn , as well as an estimated 45 million coders by 2030.
The company was founded by Aaron Vontell , an MIT alum and early engineer at AI-powered automation company Instabase. Aaron has spent the past few years working on low-code / no-code systems for non-technical people to harness the power of large machine learning models. Before Instabase, he helped develop Battlecode , an annual AI gaming competition at MIT where college students from around the globe build virtual bots to compete in video games.
"People really enjoy being able to use their technical skills to compete and win prizes, and with the proliferation of AI–this is the perfect time to start bringing AI gaming to the masses," says Aaron Vontell , Founder and CEO, Regression Games. "There is a lot of really great work coming from the ML community in using neural networks to play games like Minecraft, Dota 2, and Atari games. I want to bring those ideas to the mainstream and give people an accessible place to have fun using and competing with artificial intelligence in games."
"The growth of gaming, combined with its significant overlap with the esports and programming communities, has created a market primed for the collision of gaming and AI," said Rick Yang , General Partner and Head of Consumer Investing at NEA. "We met Aaron through our investment in Instabase and are thrilled to keep him in the NEA Family and partner with him as he executes on his vision to build Regression Games into a platform offering opportunities for competition, education, and recreation for players of all skill levels. Regression has great potential to become a pioneer in the emerging AI gaming space."
a16z General Partner James Gwertzman added, "One of the core tenets of our a16z games fund is that games are great breeding grounds for new technologies that will then find their way into all sorts of other industries. And Regression is a perfect example. What Aaron is doing — turning the creation of AI bots into a game — is not only fun in its own right, but will likely create new frameworks to simplify AI bot creation that will have broad applicability outside of games."
Aaron believes that the tools and approaches for AI competition are useful to more than just the players, but also to game studios that wish to enhance AI capabilities, or run their own AI competitions. Aaron says: "A lot more people are gaming these days, and there is a lot of complexity that goes into planning the NPCs and AIs that are used in the metaverse, online battle arenas, etc. The tools and platform we're building for players to compete will also be extremely useful for developers who want to build AIs into their games. It's widely known that existing bots in games are lacking, and we can do so much more than what is currently implemented"
Regression Games plans to hold a private alpha test and tournament with players on its AI platform in the coming months. Interested players and game developers can visit: https://regression.gg to sign up for the mailing list and follow Regression Games on Twitter and join the company's Discord server for updates!
Regression Games is hiring! Visit https://jobs.ashbyhq.com/regressiongg to view available positions.
Regression Games is building the platform and ecosystem to make competitive gaming with artificial intelligence accessible and fun to everyone. Players create AIs using code or machine learning models, debug strategies in real time, compete for prizes in tournaments and top spots on leaderboards, and collaborate with friends to build the best bots possible. For more information visit: https://www.regression.gg/
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's track record of investing includes more than 260 portfolio company IPOs and more than 440 mergers and acquisitions. www.nea.com 
View original content: https://www.prnewswire.com/news-releases/ai-gaming-and-esports-startup-regression-games-raises-4-2m-in-seed-funding-from-nea-and-a16z-301605698.html
SOURCE Regression Games
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The Platform Debuts First Collection of Trading Cards Featuring Artwork from CMON's Worldwide Best-Selling Game Zombicide
Free Digital Collectibles Celebrate Launch Day, Reward CMON Kickstarter Backers
Monsoon Digital a new collectible trading platform and content producer of digital collectibles, cards and artwork, has launched its public beta today. The first wave of items featured on the platform are digital trading cards that feature licensed artwork from Zombicide, the flagship tabletop game by CMON Limited international publisher and designer of board games, tabletop games and graphic novels.
In celebration of the new platform launch, Monsoon is gifting a free, commemorative, digital collectible to anyone who creates an account and makes their first purchase at mon.sn starting today, August 15, 2022 . Monsoon is also offering an exclusive free digital collectible to the millions of supporters who have backed CMON Kickstarter campaigns in the past.
"We've seen that there's a need in the market for an easy-to-use digital collectible platform solution—something that feels like you're collecting and trading cards, stickers and other collectibles with your friends, with minimal fees and a fun-to-use marketplace," said Carlos Pajares , Head of Development at Monsoon.
Pajares adds: "Monsoon was built on Flow, one of the most environmentally friendly types of blockchain, and we believe it's an exceptional choice for companies searching for a platform to house their digital collectibles. We're proud to launch the site with our Zombicide line of collectibles, and we have quite a few products lined up for later this year." Launched in 2020, Flow is built to support the next generation of apps, games, and the digital assets that power them.
The platform will allow users to visit a marketplace where they can buy, sell, and trade items from their collections. Certain cards can be fused together to create new ones, milestone achievements are available to be unlocked, and everything a user owns is displayed in their own showcase.
Monsoon has already enjoyed a great deal of support. Earlier this year, the company announced a pre-seed round of funding from Razer , the leading global lifestyle brand for gamers. In addition, prior to its public launch today, the platform conducted a beta test with key members of the press in an exclusive first look. The purpose of this preview was to collect any feedback and suggestions from fans, long-time writers about CMON, blockchain journalists, and gaming pros.
Learn more about Monsoon Digital and experience the public beta at mon.sn .
ABOUT MONSOON
Monsoon Digital is a blockchain-focused digital collectible company, founded to create innovative, consumer-friendly solutions for companies in the gaming and collector-based product businesses. Monsoon's products use the environmentally friendly Flow blockchain. For more information, go to mon.sn . 
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SOURCE Monsoon
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