<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[Business of Games]]></title><description><![CDATA[Documenting and creating the game production and business learnings. 
- Cartic P, @iCartic.com]]></description><link>https://businessofgames.icartic.com</link><image><url>https://substackcdn.com/image/fetch/$s_!mOoM!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F21e0956f-bacc-4d30-8a03-c1117f6528a7_500x500.png</url><title>Business of Games</title><link>https://businessofgames.icartic.com</link></image><generator>Substack</generator><lastBuildDate>Tue, 30 Jun 2026 08:38:04 GMT</lastBuildDate><atom:link href="https://businessofgames.icartic.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Cartic P, @iCartic.com]]></copyright><language><![CDATA[en]]></language><webMaster><![CDATA[cartic@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[cartic@substack.com]]></itunes:email><itunes:name><![CDATA[Cartic P, @iCartic]]></itunes:name></itunes:owner><itunes:author><![CDATA[Cartic P, @iCartic]]></itunes:author><googleplay:owner><![CDATA[cartic@substack.com]]></googleplay:owner><googleplay:email><![CDATA[cartic@substack.com]]></googleplay:email><googleplay:author><![CDATA[Cartic P, @iCartic]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[3 new gaming funds launched last week + $1B ad-tech raise]]></title><description><![CDATA[Snapshot of last week's funds, infra, and studio spinouts in gaming. 440#]]></description><link>https://businessofgames.icartic.com/p/3-new-gaming-funds-launched-last</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/3-new-gaming-funds-launched-last</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 29 Jun 2026 18:22:52 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!5wic!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Dubai &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p>1. Funding &amp; M&amp;A: $10M &#8594; Playtika veterans secure funding for AI-powered mobile app operations platform<br><br>&#187; Fund Launch:<br>2. $163M &#8594; Nexon Korea launches fund for early-stage game developers (5-year commitment)<br>3. $50M &#8594; Denmu raises fund to fuel game makers<br>4. $10M &#8594; VGames launches new Indie Fund</p><p>5. Adjacent Capital: $1B &#8594; AppsFlyer raises from Moloco, Google, Meta and Unity &#8212; ad measurement infra</p><p>&#187; New Studio Launches &amp; Spinouts:<br>6. TRAILMARK Games launches<br>7. Orixa Games launches<br>8. 34BigThings spins out from Embracer Group</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!5wic!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!5wic!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!5wic!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!5wic!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!5wic!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!5wic!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png" width="546" height="546" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:546,&quot;bytes&quot;:728665,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/204156690?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!5wic!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!5wic!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!5wic!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!5wic!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F78ee8d94-718b-46aa-ba92-a46d60416832_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>The money is moving up the stack: Less into individual studios, more into funds, infra, and platforms.<br><br>Where do you think gaming capital flows next?<br><br>Stay ahead. Curated weekly at <a href="https://icartic.com">iCartic.com</a><br>tCARe, CARtic P <br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Hottest game dev opportunity in 2026 is not remake or remaster or reboot.]]></title><description><![CDATA[It's port to Switch2 and YT playables 439#]]></description><link>https://businessofgames.icartic.com/p/hottest-game-dev-opportunity-in-2026</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/hottest-game-dev-opportunity-in-2026</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Fri, 26 Jun 2026 15:39:42 GMT</pubDate><enclosure url="https://api.substack.com/feed/podcast/203716667/37ea29e9bfa1f71ddde95f63dfcd99d1.mp3" length="0" type="audio/mpeg"/><content:encoded><![CDATA[<p>Nintendo has shipped 19M units of Switch2 last year, 3rd party software sales has hit 2.3B. If you have the licensing slot, this is the biggest single-platform to port.</p><p>YouTube Playables, a platform with 2B MAUs, Unity, Godot, Cocos, PlayCanvas has SDK support.</p><p>2 formats, 2 platforms. Which port would you ship first?<br><span>tCARe, Cartic P<br></span><br><span>/ </span><a href="https://icartic.com/">iCartic.com</a></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item><item><title><![CDATA[UGC trends: your teen-targeted UGC games have a 12-month shelf life.]]></title><description><![CDATA[UAE and UK just dropped under-16 bans. This is not a legal team problem. It's a product one. 438#]]></description><link>https://businessofgames.icartic.com/p/ugc-trends-your-teen-targeted-ugc</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/ugc-trends-your-teen-targeted-ugc</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Wed, 24 Jun 2026 17:27:12 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!X9TJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><span>Hey Friends, greetings from Bangalore &#128151;<br><br></span>The &#8220;we&#8217;re a game, not a social platform&#8221; defence has a 12-month shelf life.</p><ol><li><p><span>UAE: under-15 ban, 12months clock started on June 18th. Behavioural ads to minors prohibited.</span></p></li><li><p><span>UK: under-16 ban, Spring 2027 deadline. Livestreaming and stranger-contact restrictions</span></p></li></ol><p>Regulators stopped tightening social media. They&#8217;re tightening games now.</p><p>If your DAU under 16 sits in voice chat, party systems, UGC creation, or co-op-with-strangers loops, your product just got a deadline.<br>Not your legal team. Your product.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!X9TJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!X9TJ!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!X9TJ!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!X9TJ!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!X9TJ!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!X9TJ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png" width="386" height="386" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/b77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:false,&quot;imageSize&quot;:&quot;normal&quot;,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:386,&quot;bytes&quot;:102925,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/203426657?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:&quot;center&quot;,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!X9TJ!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!X9TJ!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!X9TJ!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!X9TJ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb77cdc50-a1ce-4c83-b125-fcdca850e52c_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Planning to reprioritize your tickets in JIRA? Or are you still betting the legal definition holds?<br><br><span>Stay ahead. Curated weekly at </span><a href="https://icartic.com/">iCartic.com</a><br><span>tCARe, CARtic P<br><br></span></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[$17.7M+ Games Funding, UA Financing & M&A Moves — Last Week]]></title><description><![CDATA[Snapshot of last week&#8217;s funding, acquisitions, and regulatory shifts in gaming. 437#]]></description><link>https://businessofgames.icartic.com/p/177m-games-funding-ua-financing-and</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/177m-games-funding-ua-financing-and</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 22 Jun 2026 17:31:12 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!Z7Mc!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p><strong>Funding &amp; M&amp;A:</strong> </p><ol><li><p>$2.4M &#8594; AutoVRse (VR simulation) raises from Singularity AMC and Lumikai</p></li><li><p>$1.34M &#8594; Breaking Change closes funding, UK games dev software</p></li><li><p>Spektra Games receives investment from APY Ventures (T&#252;rkiye) &#8594; undisclosed</p></li><li><p>Voltage acquires OperaHouse anime studio &#8594; undisclosed</p></li><li><p>PULLUP Entertainment divests Douze Dixi&#232;mes to founding partners &#8594; undisclosed</p></li></ol><p><br>6. <strong>UA Financing:</strong>  $14M &#8594; Luni secures financing from PvX Partners<br>7. <strong>Adjacent Capital:</strong> Affle acquires AdColony assets from Digital Turbine - ad tech, gaming adjacent</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Z7Mc!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png" width="470" height="470" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:470,&quot;bytes&quot;:885136,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/203122801?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!Z7Mc!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F56698263-52a5-47fa-871f-6b4866d08925_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Another week, another PvX UA financing round. Luni&#8217;s $14M proves this is now a permanent funding pillar. Not a trend.</p><p>What&#8217;s your read on UA financing going mainstream?<br><br><span>Stay ahead. Curated weekly at </span><a href="https://icartic.com/">iCartic.com</a><br><span>tCARe, CARtic P <br><br></span></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Trending game review: Clash of Critters]]></title><description><![CDATA[Games download fell from #6 to #217, and rev spiked to $222K a day. 436#]]></description><link>https://businessofgames.icartic.com/p/trending-game-review-clash-of-critters</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/trending-game-review-clash-of-critters</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Thu, 18 Jun 2026 18:28:00 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!6pk3!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey friends, greetings from Bangalore &#128151;<br><br>Clash of Critters Stats:</p><ul><li><p><span>Grossing rank: 1,519 on launch day, up to 129 by May 30</span></p></li><li><p><span>Download rank: top 6 on May 27, down to ~217 today</span></p></li><li><p><span>Daily IAP: flat under $10K in soft launch, then a 20x spike to a $222K peak, now holding at $200K</span></p></li></ul><p>Most gamedevs chase the download line, here they found the spenders and retained them while the tourists churned.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!6pk3!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!6pk3!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!6pk3!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!6pk3!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!6pk3!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!6pk3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png" width="448" height="448" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/19519926-76d8-45c8-a662-ce686636236b_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:448,&quot;bytes&quot;:278161,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/202619992?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!6pk3!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!6pk3!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!6pk3!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!6pk3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19519926-76d8-45c8-a662-ce686636236b_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br>Design 101 says avoid genre mash-ups, too many mechanics. Clash of Critters is the counterexample, has 4 genres under one hood:</p><ul><li><p><span>Grid lane defense: session depth</span></p></li><li><p><span>Pinball progression: pacing (just like Monopoly Go!)</span></p></li><li><p><span>Tatari collection: gacha</span></p></li><li><p><span>Cozy base building: personalization</span></p></li></ul><p><span data-color="rgb(54, 55, 55)" style="color: rgb(54, 55, 55);">tCARe, CARtic P <br>/ </span><a href="https://icartic.com/">iCartic.com</a> <br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[$52.8M+ Games Funding, UA Financing & M&A Moves — Last Week]]></title><description><![CDATA[Snapshot of last week's funding, debt raises, and ecosystem moves in gaming. 435#]]></description><link>https://businessofgames.icartic.com/p/528m-games-funding-ua-financing-and</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/528m-games-funding-ua-financing-and</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 15 Jun 2026 17:34:21 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!A1yH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p><strong>Funding &amp; M&amp;A:<br></strong>1. ~$29M &#8594; Anima Kitchent closes late-stage round (Spain, animation studio)<br>2. $20M &#8594; Board raises Series A, physical-digital gaming device<br>3. &#8364;3.5M &#8594; CardNexus closes seed led by Piton Capital<br>4. Roblox acquires Morpheus AI, undisclosed<br>5. Secret Mode acquires Chained Together from Anegar Games, undisclosed</p><p><strong>6. Debt Financing: </strong>$57M &#8594; Nazara Technologies raises debt <br><strong>7.</strong> <strong>UA Financing: </strong>$20M &#8594; Two Desperados secures UA financing from PvX Partners<br><strong>8. Adjacent Capital: </strong>$7M &#8594; Sony Innovation Fund leads WeRize pre-Series C, fintech, gaming adjacent<br><strong>9.</strong> <strong>Studios &amp; Ecosystem: </strong>Jin Universe Studios launches with backing to fund debut title Aether Dawn</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!A1yH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!A1yH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!A1yH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!A1yH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!A1yH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!A1yH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png" width="482" height="482" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:482,&quot;bytes&quot;:857849,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/202162687?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!A1yH!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!A1yH!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!A1yH!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!A1yH!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5f946095-dee3-438a-9a87-2a3b16bef2b1_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br>Roblox buying an AI company! They are focusing on building tools that makes experience. The platform isn't just hosting games anymore. What's your read on Roblox acquiring Morpheus AI?<br><br>Stay ahead. Curated weekly at <a href="https://iCartic.com">iCartic.com</a><br>tCARe, CARtic P <br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p><br></p>]]></content:encoded></item><item><title><![CDATA[Can India build its own Peak Games?]]></title><description><![CDATA[Are we stuck in hypercasual genre, 434#]]></description><link>https://businessofgames.icartic.com/p/can-india-build-its-own-peak-games</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/can-india-build-its-own-peak-games</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Fri, 12 Jun 2026 17:47:06 GMT</pubDate><enclosure url="https://api.substack.com/feed/podcast/201777911/53877a8d093b1cbb59019e2f6d255404.mp3" length="0" type="audio/mpeg"/><content:encoded><![CDATA[<p>Hey Friends, Greetings from Bangalore &#10084;&#65039;<br><br>After Apple game recession and hypercasual genre crash, devs and studios moved to hybridcasual. Turkey is leading the race there with the puzzle game genre, with all Peak DNA.</p><p>Indian studios with experience in RMG, ludo/board, and fantasy do not mint hybridcasual founders. What other genres are we shining now?<br><br>What would it take to build the Indian Peak Games/puzzle games?<br>tCARe, Cartic P<br><br>/ <a href="https://icartic.com/">iCartic.com</a> </p><p><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[$39.3M+ Games Funding, IPO Pricing & Ecosystem Moves — last week]]></title><description><![CDATA[Snapshot of this week's funding, IPO watch, and ecosystem moves in gaming. 433#]]></description><link>https://businessofgames.icartic.com/p/393m-games-funding-ipo-pricing-and</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/393m-games-funding-ipo-pricing-and</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 08 Jun 2026 17:06:01 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!YBXX!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><ol><li><p><strong>Funding &amp; M&amp;A: </strong>$39.3M &#8594; Atari acquires Crossy Road creator Hipster Whale</p></li><li><p><strong>Funding &amp; M&amp;A: </strong>Honig Games closes pre-seed &#8212; Behold Ventures led, IBB Ventures participated &#8212; undisclosed</p></li><li><p><strong>IPO Watch: </strong>Liftoff Mobile prices IPO at $3.83B valuation &#8212; second attempt, first delayed in 406#</p></li><li><p><strong>Fund Launch: </strong>AMF Capital launches &#8212; independent UA financing fund &#8212; Akin Babayigit &amp; Makers Fund &#8212; size undisclosed</p></li><li><p><strong>Adjacent Capital: </strong>~$200M &#8594; Tripo AI raises for AI 3D and world model tech &#8212; gaming adjacent</p></li><li><p><strong>Developing Story: </strong>TruFin conditionally agrees to sell 84.5% stake in Playstack &#8212; not closed</p></li><li><p><strong>Crowdfunds: </strong>Star Citizen crosses $1B in crowdfunding &#8212; sci-fi universe still building</p></li><li><p><strong>Studios &amp; Ecosystem: </strong>Saga sells crypto branch &#8212; pivots to AI-driven digital characters</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!YBXX!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!YBXX!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!YBXX!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!YBXX!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!YBXX!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!YBXX!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png" width="522" height="522" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:522,&quot;bytes&quot;:961724,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/201175897?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!YBXX!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!YBXX!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!YBXX!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!YBXX!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5ef7eca7-3a91-4bb7-bd81-0dd1705ce146_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>UA financing now has its own named fund. <br>What&#8217;s your thought on Liftoff&#8217;s second IPO attempt? </p><p>Stay ahead. Curated weekly at <a href="https://icartic.com">iCartic.com</a><br>tCARe, CARtic P</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item><item><title><![CDATA[What dominated global charts in May26?]]></title><description><![CDATA[Top Games of May 2026, Downloads vs. Revenue. 432#]]></description><link>https://businessofgames.icartic.com/p/what-dominated-global-charts-in-may26</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/what-dominated-global-charts-in-may26</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Thu, 04 Jun 2026 17:47:13 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!8QbB!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, Greetings from Bangalore &#128151;</p><p>From top downloads to breakout revenue earners, a snapshot of May26 WW global chart:</p><p><strong>Top Grossing Titles:</strong> Honor of Kings at no.1 with $155M+ rev (up sharply from $138M in April), followed by Whiteout Survival with $105.2M+ rev, followed by Royal Match at no.3 with $105.1M+ rev </p><p><strong>Top Downloads:</strong> Arrows: Puzzle Escape at no.1 with 28.6M+, followed by Arrows GO! at no.2 with 23.8M+, Free Fire: Undersea Mystery at no.3 with 21M+ downloads</p><p><strong><br>Games to Track in June:</strong></p><ol><li><p>Gossip Harbor: Merge &amp; Story sits at no.5 revenue with $96.1M+, its second-best month on record. Will it become a top-4 in June?</p></li></ol><ol start="2"><li><p>Brawl Stars, back in the top 15 rev at $38.2M, its best month since December 2024. Supercell&#8217;s live ops cadence is reactivating a base most assumed had plateaued.</p></li><li><p>Royal Kingdom, the only title charting in both lists (no.11 downloads at 10.3M+, no.14 revenue at $39.6M+). Dream Games is quietly proving it can run two match-3 franchises in parallel.</p></li></ol><p><strong><br>vs April, What Shifted:</strong></p><ol><li><p>Block Blast!&#8217;s streak ends. After four straight months at no.1, HungryStudio&#8217;s puzzle leader drops to no.4 (19.5M downloads). Not a collapse, but the first real crack in its run.</p></li><li><p>The arrow puzzle takeover. Arrows: Puzzle Escape (no.1) and Arrow Puzzle: Tap Puzzle Games (no.10) share the same publisher, Miniclip, with Arrows GO! at no.2. One mechanic, three top-10 slots, near-zero IP spend.</p></li><li><p>Last War: Survival&#8217;s revenue drops. IAP fell roughly 30% to $80.7M (no.10, down 8 spots), its lowest since March 2024. </p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!8QbB!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!8QbB!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!8QbB!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!8QbB!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!8QbB!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!8QbB!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png" width="1200" height="1200" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:527718,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/200103771?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!8QbB!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!8QbB!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!8QbB!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!8QbB!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a3b271c-31fe-42f5-b10f-0b0ef8d72ce7_1200x1200.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br>Charts are curated monthly at <a href="https://icartic.com">iCartic.com</a> <br>tCARe, Cartic P</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item><item><title><![CDATA[HoYoverse, Decart, Goldenpeak and Lumikai: 4 gaming moves from this week]]></title><description><![CDATA[HoYoverse's AI war chest, Decart's $300M raise, and gaming intelligence gets acquired. 431#]]></description><link>https://businessofgames.icartic.com/p/hoyoverse-decart-goldenpeak-and-lumikai</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/hoyoverse-decart-goldenpeak-and-lumikai</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 01 Jun 2026 18:39:20 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!ZXyf!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.<br><br><strong>Funding, Investments &amp; M&amp;A</strong></p><ol><li><p>$400K &#8594; Lumikai backs Meta Fashion in pre-seed round</p></li><li><p>Goldenpeak acquires majority stake in Ampere Analysis &#8212; undisclosed</p></li></ol><p><strong>Adjacent Capital</strong></p><ol start="3"><li><p>$300M &#8594; Decart raises &#8212; tech leaders back as both customers and investors &#8212; AI, gaming adjacent</p></li><li><p>$14.7B &#8594; HoYoverse reportedly investing in AI over next three years &#8212; multi-year plan, unconfirmed (developing story)</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ZXyf!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ZXyf!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!ZXyf!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!ZXyf!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!ZXyf!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ZXyf!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png" width="604" height="604" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:604,&quot;bytes&quot;:835117,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/200156112?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ZXyf!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!ZXyf!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!ZXyf!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!ZXyf!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33c43b9f-21d2-4f83-a167-472a2dba0621_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Quiet week on pure gaming capital, but HoYoverse betting the next platform is AI &#8212; not a game engine &#8212; is worth your attention. What&#8217;s your read on HoYoverse&#8217;s AI play? Drop it below &#128071;</p><p>Stay ahead. Curated weekly at <a href="https://iCartic.com">iCartic.com</a> <br>tCARe, CARtic P</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item><item><title><![CDATA[Roblox's as an UA channel]]></title><description><![CDATA[why not see it, as it has a 88M DAU, 430#]]></description><link>https://businessofgames.icartic.com/p/robloxs-as-an-ua-channel</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/robloxs-as-an-ua-channel</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Fri, 29 May 2026 17:28:00 GMT</pubDate><enclosure url="https://api.substack.com/feed/podcast/199772163/8c29647f32b1d5fe19a79f66077dc014.mp3" length="0" type="audio/mpeg"/><content:encoded><![CDATA[<p>Hey Friends, Greetings from Bangalore &#10084;&#65039; <br><br>I&#8217;ve been in the gaming space for 13 years now. Recently, I&#8217;m noticing a lot of Roblox experience development and queries.<br><br>These are from Studios, with a motive of using Roblox as a UA Channel to target their future audience. <br><br>Recently. I also noticed that Starbreeze is exploring the Roblox platform for its games. <br><br>What are your thoughts on using Roblox as a UA channel for your IP? <br>tCARe, Cartic P<br>/ <a href="https://iCartic.com">iCartic.com</a><br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[4 gaming moves last week — Acquisitions, IPO eyes, and a new studio forms]]></title><description><![CDATA[Snapshot of funding, Business of Games 429#]]></description><link>https://businessofgames.icartic.com/p/4-gaming-moves-last-week-acquisitions</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/4-gaming-moves-last-week-acquisitions</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 25 May 2026 17:24:22 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!UToi!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p><strong>Funding, Investments &amp; M&amp;A</strong></p><ol><li><p>Bragg Gaming Group acquires Drayton International &#8212; accelerates games-first strategy, undisclosed</p></li><li><p>StreamElements in acquisition talks &#8212; shutdown speculation triggered discussions (developing story)</p></li></ol><p><strong>IPO Watch</strong></p><ol><li><p>NODWIN Gaming eyes $100-200M fundraise ahead of IPO &#8212; target announced, round not closed (appeared 416#)</p></li></ol><p><strong>Studios &amp; Ecosystem</strong></p><ol><li><p>Cosmic Division launches &#8212; new studio from Harry, ex-Housemarque game director</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!UToi!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!UToi!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!UToi!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png 848w, 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data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:582,&quot;bytes&quot;:874701,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/199214674?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!UToi!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!UToi!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!UToi!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!UToi!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F16f86859-7e13-44a4-90e3-810dfee78268_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Quiet week on disclosed capital. What are you tracking this week?<br><br>Stay ahead. Curated weekly at <a href="https://iCartic.com">iCartic.com</a> <br>tCARe, CARtic P </p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Business of Games is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item><item><title><![CDATA[Grand Games, GreaterThan, AppMagic and Nazara: 10 gaming deals from last week]]></title><description><![CDATA[10 gaming deals, $240M+ moved last week. 428#]]></description><link>https://businessofgames.icartic.com/p/grand-games-greaterthan-appmagic</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/grand-games-greaterthan-appmagic</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 18 May 2026 16:21:45 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!l6VL!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151;<br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p><br><strong>Funding, Investments &amp; M&amp;A</strong></p><ol><li><p>$100M &#8594; GreaterThan Group launches investment platform for gaming studios</p><ol><li><p>Former NetEase investment head Simon Zhu launches GreaterThan Group to back top gaming teams.</p></li></ol></li><li><p>70M &#8594; Grand Games raises Series B</p><ol><li><p>A major studio funding round and one of the week&#8217;s biggest disclosed deals.</p></li></ol></li><li><p>Rs 93 Cr &#8594; Zerodha buys Nazara Technologies stake</p><ol><li><p>A fresh India gaming signal amid a major promoter exit.</p></li></ol></li><li><p>$8M &#8594; Origin Lab raises seed round</p><ol><li><p>Building licensed game-world data infrastructure for world models and multimodal AI.</p></li></ol></li><li><p>$5M &#8594; Odd Meter raises for next project</p><ol><li><p>The Indika developer secures funding for its next title.</p></li></ol></li><li><p>Undisclosed &#8594; Soloband Games secures Series A from Zubr Capital</p><ol><li><p>Fresh capital for the studio&#8217;s next phase of growth.</p></li></ol></li><li><p>Undisclosed &#8594; Sensor Tower acquires AppMagic</p><ol><li><p>Market intelligence consolidation for mobile apps and games.</p></li></ol></li><li><p>Undisclosed &#8594; Veroplay acquires Moving Eye Games and Swamp Attack</p><ol><li><p>Portfolio expansion through studio and IP acquisition.</p></li></ol></li></ol><p><br><strong>Studios &amp; Ecosystem</strong></p><ol start="9"><li><p>GreaterThan backs Arcanaut Studios</p><ol><li><p>Casey Hudson&#8217;s Arcanaut Studios is among GreaterThan&#8217;s first investments.</p></li></ol></li><li><p>Stupendium Softworks launches</p><ol><li><p>A new indie studio from an industry veteran and YouTube musician.</p></li></ol></li></ol><p><strong><br>Adjacent Capital</strong></p><ol start="11"><li><p>$56B &#8594; eBay rejects GameStop bid</p><ol><li><p>A gaming-adjacent corporate move that did not land, but is still worth tracking.</p></li></ol></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!l6VL!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!l6VL!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!l6VL!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!l6VL!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!l6VL!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!l6VL!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png" width="1200" height="1200" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:849290,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/198283849?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!l6VL!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!l6VL!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!l6VL!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!l6VL!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bea91d3-2fc5-419e-86b4-ced0865041b7_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>This week&#8217;s pattern: AI infrastructure, mobile intelligence, India exposure, and founder-led studios are all pulling attention.</p><p>Which deal surprised you most this week?</p><p>Stay ahead. Curated weekly at iCartic.com<br>tCARe, CARtic P<br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[12 gaming deals, $68.2M+ moved last week ]]></title><description><![CDATA[Astrocade&#8217;s $56M AI gaming bet, CCP rebrands, and the deal stack keeps widening. 427#]]></description><link>https://businessofgames.icartic.com/p/12-gaming-deals-682m-moved-last-week</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/12-gaming-deals-682m-moved-last-week</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 11 May 2026 16:33:59 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!KrLJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p>Funding, Investments &amp; M&amp;A</p><ol><li><p>$56M &#8594; Astrocade raises to expand AI-powered game creation platform</p></li><li><p>$7M &#8594; Kohort raises to build UA AI agents for mobile</p></li><li><p>$3.2M &#8594; Chance Studios raises for trading card collectibles platform</p></li><li><p>$2M &#8594; Mindtail Games raises for AI-driven puzzle games (T&#252;rkiye)</p></li><li><p>Supercell fully acquires Metacore (Merge Mansion) &#8212; undisclosed</p></li><li><p>EasyWin closes second seed at $20M valuation &#8212; raise undisclosed, backed by private EU investor</p></li><li><p>Mistplay acquires MAF&#8217;s MyChips &#8212; boosts rewarded play platform</p></li><li><p>InMobi acquires MobileAction &#8212; mobile growth platform</p></li><li><p>Atari acquires exclusive rights to first five Wizardry games and IP &#8212; undisclosed</p></li><li><p>CCP Games rebrands to Fenris Creations &#8212; Google takes minority stake</p></li></ol><p>Fund Launch</p><ol start="11"><li><p>$100M &#8594; Griffin Gaming Partners launches project financing fund for indie games</p></li></ol><p>Adjacent Capital</p><ol start="12"><li><p>$55B &#8594; GameStop submits bid to acquire eBay &#8212; corporate M&amp;A, gaming adjacent</p></li></ol><p>Studios &amp; Ecosystem</p><ol start="13"><li><p>Starbreeze partners with Gamefam &#8212; new Payday game coming to Roblox</p></li><li><p>Studio Ricochet launches &#8212; former heads of Gearbox Studio Quebec</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!KrLJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!KrLJ!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!KrLJ!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!KrLJ!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!KrLJ!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!KrLJ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png" width="546" height="546" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/abc25776-3d95-4540-a821-7b1c12946711_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:546,&quot;bytes&quot;:844349,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/197233009?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!KrLJ!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!KrLJ!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!KrLJ!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!KrLJ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc25776-3d95-4540-a821-7b1c12946711_1200x1200.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p>Which deal surprised you most this week? <br><br>Stay ahead. Curated weekly at <a href="https://icartic.com">iCartic.com</a> <br>tCARe, CARtic P </p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[3 years. 1 studio. $6M+ yearly revenue. 1 big pivot incoming.]]></title><description><![CDATA[Hardest part isn't the staying. It's rebuilding, every few years, while still standing. 426#]]></description><link>https://businessofgames.icartic.com/p/3-years-1-studio-6m-yearly-revenue</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/3-years-1-studio-6m-yearly-revenue</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Fri, 08 May 2026 17:40:07 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!qFj7!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, Greetings from Bangalore &#128151;<br><br>Joined JuegoStudio, when we were a small team of devs with more ambition than resources.<br><br>Watched this place grow in slow motion. One ship at a time, one teammate at a time, one client relationship at a time.<br><br>Some things I'll always carry:<br>&#9656; first-time PMs and QA folks I got to bring into the industry, many now running their own teams<br>&#9656; Clients who trusted a small studio and stayed long enough to become partners<br>&#9656; late-night Skype-turned-Slack/WhatsApp threads where the best ideas actually happened<br><br>Easy to talk about 13 years as a number, harder to talk about the hundreds of small moments that actually built the place.<br><br>The studio I joined isn't the studio I'm in today.<br>We've grown into a $6M+ business, and making a deliberate move into AA, PC-first.<br><br>The next chapter is the most excited I've been in years. It puts me back in the spot where I have to build us from zero to 1M, all over again.<br><br>But before the next chapter, the people who made this one possible. Teammates who became family. Clients who became friends. Advisors who shaped how I think. You know who you are. Thank you :)<br><br>13 years down. Back to building from zero to 1M. Let's go.<br><br>Would love to hear from anyone else marking a milestone this year &#8594; what's the one lesson you're taking into the next chapter?</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!qFj7!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!qFj7!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 424w, https://substackcdn.com/image/fetch/$s_!qFj7!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 848w, https://substackcdn.com/image/fetch/$s_!qFj7!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 1272w, https://substackcdn.com/image/fetch/$s_!qFj7!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!qFj7!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png" width="1456" height="738" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:738,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:222015,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/196928125?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!qFj7!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 424w, https://substackcdn.com/image/fetch/$s_!qFj7!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 848w, https://substackcdn.com/image/fetch/$s_!qFj7!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 1272w, https://substackcdn.com/image/fetch/$s_!qFj7!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F00b617a3-0d02-4e2f-b44e-f6310cbf3040_1512x766.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br>tCARe, Cartic <br><a href="https://iCartic.com">/@iCartic.com</a> <br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p> </p>]]></content:encoded></item><item><title><![CDATA[Unity AI is not Muse 2.0]]></title><description><![CDATA[Unity AI is available for all devs with Unity6 license, 425#]]></description><link>https://businessofgames.icartic.com/p/unity-ai-is-not-muse-20</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/unity-ai-is-not-muse-20</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Wed, 06 May 2026 15:02:35 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!CvFJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, Greetings from Bangalore &#128151;<br> <br>In 2026, everyone has an AI suite. So does Unity, but they already tried this in 2023 under the name Muse. <br>They killed it in 2024, during their stint with cost cuts and restructuring.<br> <br>What does Muse do: Help you with texture and sprite generation. Sat outside the editor - more of a side product, not part of your workflow.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!CvFJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!CvFJ!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!CvFJ!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!CvFJ!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!CvFJ!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!CvFJ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png" width="426" height="426" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:426,&quot;bytes&quot;:710147,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/196667089?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0491819-5615-4fbc-bc48-1f220fa48e23_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br>How Unity AI is different from Muse:</p><ol><li><p>Built into the Unity Editor</p></li><li><p>AI Gateway for third-party model integration, MCP server for IDE &amp; external LLM access</p></li><li><p>Asset generators: materials, sounds, cubemaps, 2D &amp; 3D</p></li></ol><p>It&#8217;s available for devs with Unity6 license. Share your thoughts after checking it.<br></p><p>tCARe, CARtic P<br>/<a href="https://iCartic.com">@iCartic.com</a> </p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p><br></p>]]></content:encoded></item><item><title><![CDATA[What dominated global charts in Apr26?]]></title><description><![CDATA[Block Blast! locks a 4-month streak, Arrows franchise takes 37M+ installs in one month, and Royal Match climbs back above $100M. 424#]]></description><link>https://businessofgames.icartic.com/p/what-dominated-global-charts-in-apr26</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/what-dominated-global-charts-in-apr26</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Tue, 05 May 2026 09:57:55 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!Z0Ix!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, Greetings from Bangalore &#128151;</p><p>From top downloads to breakout revenue earners, a snapshot of April 26 WW global chart:<br><strong><br>Top Grossing Titles:</strong> Honor of Kings at no.1 with $138M+ rev (up from $133M in March), followed by Last War: Survival with $114M+ rev, followed by Whiteout Survival with $109M+ rev<br><strong><br>Top Downloads:</strong> Block Blast! at no.1 with 23.8M+, followed by Free Fire: Undersea Mystery with 22.7M+, Arrows - Puzzle Escape debuts at no.3 with 20.9M+ downloads<br><strong><br>Games to Track in May:</strong></p><ol><li><p><strong>Arrows franchise</strong> &#8211; Explosive dual entry with Arrows - Puzzle Escape at no.3 (20.9M+) and Arrows GO! at no.5 (16.1M+). Combined 37M+ downloads in 1month.</p></li><li><p><strong>Royal Kingdom</strong> &#8211; Dream Games debuts at no.9 downloads with 12M+, early traction mirrors Royal Match&#8217;s launch pattern. </p></li><li><p><strong>Honkai: Star Rail</strong> &#8211; Climbs to no.14 revenue at $36M+, miHoYo&#8217;s turn-based RPG building sustainable revenue quietly while competitors chase live service trends</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Z0Ix!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png" width="1200" height="1200" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1200,&quot;width&quot;:1200,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:526670,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/196523508?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 424w, https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 848w, https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 1272w, https://substackcdn.com/image/fetch/$s_!Z0Ix!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd34acf67-b750-47e6-a8b9-ddcabb4ef5ea_1200x1200.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong><br>vs March &#8212; What Shifted:</strong></p><ol><li><p>Block Blast! locks a 4-month streak at no.1 downloads (23.8M in April vs 25.6M in March) &#8212; slight decline but still dominant, proving staying power over viral spikes</p></li><li><p>Arrows franchise reshapes the download chart &#8212; 37M+ combined installs from two titles, the biggest puzzle breakthrough since Block Blast&#8217;s own rise</p></li><li><p>Honor of Kings revenue growth &#8212; $138M+ (up from $133M) &#8212; not just maintaining, actually growing after years of dominance</p></li><li><p>Royal Match back above $100M threshold at no.4 &#8212; Dream Games&#8217; match-3 evergreen refuses to fade, now testing Royal Kingdom as potential second franchise</p></li><li><p>Puzzle and casual games own 8 of top 10 download slots &#8212; the market has spoken: simple mechanics, massive global reach</p></li></ol><p>What pattern are you seeing in your market?<br><br>Charts curated monthly at <a href="https://iCartic.com">iCartic.com</a><br>tCARe, CARtic P <br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[6 gaming moves, $469.6M+ last week — most of it adjacent. ]]></title><description><![CDATA[1 IPO. 1 robot. 1 UA raise. Adjacent capital is becoming the story &#8212; not the footnote. 423#]]></description><link>https://businessofgames.icartic.com/p/6-gaming-moves-4696m-last-week-most</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/6-gaming-moves-4696m-last-week-most</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 04 May 2026 16:19:24 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!dY57!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p>Funding, Investments &amp; M&amp;A</p><ol><li><p>$4.6M &#8594; Digital Bros acquires Wuchang: Fallen Feathers IP</p></li><li><p>Soloband Games closes Series A led by Zubr Capital &#8212; undisclosed</p></li><li><p>Distinct Possibility Studios (Reaper Actual) closes additional funding &#8212; undisclosed</p></li></ol><p>Adjacent Capital</p><ol><li><p>$335M &#8594; Modern Times Group confirms PlaySimple IPO filing targeting Mumbai listing &#8212; filing, not a closed raise</p></li><li><p>$110M &#8594; Sereact raises Series B to build action-simulating robots &#8212; robotics, gaming adjacent</p></li><li><p>$20M &#8594; Metasports Interactive secures non-dilutive UA financing</p></li></ol><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!dY57!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!dY57!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 424w, https://substackcdn.com/image/fetch/$s_!dY57!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 848w, https://substackcdn.com/image/fetch/$s_!dY57!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 1272w, https://substackcdn.com/image/fetch/$s_!dY57!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!dY57!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png" width="1080" height="1080" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/af99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1080,&quot;width&quot;:1080,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:620386,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/196439618?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!dY57!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 424w, https://substackcdn.com/image/fetch/$s_!dY57!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 848w, https://substackcdn.com/image/fetch/$s_!dY57!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 1272w, https://substackcdn.com/image/fetch/$s_!dY57!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faf99aceb-062d-4800-af3d-eed7f038b75d_1080x1080.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Stay ahead. Curated weekly at <a href="https://icartic.com/">iCartic.com</a><br>tCARe, CARtic P<br><br></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[UA financing is the new VC. 10 gaming deals, $77M+ last week]]></title><description><![CDATA[Sanrio enters publishing, Indian cricket stars back a AAA, and three companies change hands. 422#]]></description><link>https://businessofgames.icartic.com/p/ua-financing-is-the-new-vc-10-gaming</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/ua-financing-is-the-new-vc-10-gaming</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 27 Apr 2026 17:28:22 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!Uxeh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.</p><p>Funding, Investments &amp; M&amp;A</p><ol><li><p>$62.9M &#8594; Sanrio launches in-house publishing label Sanrio Games</p></li><li><p>$11M &#8594; LightFury Games raises &#8212; backed by MS Dhoni, Bumrah &amp; Pandya</p></li><li><p>$3.1M &#8594; Spill Games closes seed (Centre Court Capital, PeerCapital)</p></li><li><p>Tamatem acquires Playable Factory &#8212; moves into AI-enabled ad tech</p></li><li><p>Atari acquires Implicit Conversions &#8212; brings classic games to new platforms</p></li><li><p>People Can Fly acquires Cooldown Games &#8212; undisclosed</p></li></ol><p>Non-Traditional one</p><ol start="7"><li><p>$58M &#8594; Firstpoint VC launches fund for AI gaming startups in emerging markets</p></li><li><p>$10.5M &#8594; PvX closes UA financing round</p></li><li><p>$4.5M &#8594; Uplane raises seed &#8212; AI replaces marketing agencies</p></li><li><p>$2M &#8594; Smash Games secures UA financing to scale Animal Suika</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Uxeh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Uxeh!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 424w, https://substackcdn.com/image/fetch/$s_!Uxeh!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 848w, https://substackcdn.com/image/fetch/$s_!Uxeh!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 1272w, https://substackcdn.com/image/fetch/$s_!Uxeh!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Uxeh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png" width="586" height="586" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1080,&quot;width&quot;:1080,&quot;resizeWidth&quot;:586,&quot;bytes&quot;:627557,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/195653624?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Uxeh!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 424w, https://substackcdn.com/image/fetch/$s_!Uxeh!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 848w, https://substackcdn.com/image/fetch/$s_!Uxeh!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 1272w, https://substackcdn.com/image/fetch/$s_!Uxeh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F920962f9-f733-4341-bfe3-a11fff858c82_1080x1080.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Sanrio entering publishing is bigger than it looks. <br>LightFury is the most interesting Indian gaming bet in years. <br>Playtika partners Bingo Blitz with Shortical &#8212; serialised storytelling meets gameplay.</p><p>Which of these moves are you tracking?</p><p>Stay ahead. Curated weekly at <a href="https://iCartic.com">iCartic.com</a> <br>tCARe, CARtic P</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item><item><title><![CDATA[5 gaming deals, $83.7M+ moved last week]]></title><description><![CDATA[UK government doubles down, Reforged lands $30M, and Cold Iron finds a buyer. 421#]]></description><link>https://businessofgames.icartic.com/p/6-gaming-deals-837m-moved-last-week</link><guid isPermaLink="false">https://businessofgames.icartic.com/p/6-gaming-deals-837m-moved-last-week</guid><dc:creator><![CDATA[Cartic P, @iCartic]]></dc:creator><pubDate>Mon, 20 Apr 2026 17:04:48 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!npZK!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Hey Friends, greetings from Bangalore &#128151; <br><br>Here&#8217;s your weekly curated look at the deals that moved the needle in gaming.<br><br>Funding, Investments &amp; M&amp;A</p><ol><li><p>$30M &#8594; Reforged Studios secures strategic investment from MEP Capital</p></li><li><p>&#163;28.5M &#8594; UK Government pledges for UK Games Fund</p></li><li><p>$10.7M &#8594; Packz raises in total funding for digital trading cards</p></li><li><p>$4M &#8594; Mission Control Games closes pre-seed for casual mobile</p></li><li><p>$3M &#8594; Enad Global 7 signs LOI to acquire Cold Iron Studios</p></li></ol><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!npZK!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!npZK!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png 424w, https://substackcdn.com/image/fetch/$s_!npZK!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png 848w, https://substackcdn.com/image/fetch/$s_!npZK!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png 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data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1080,&quot;width&quot;:1080,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:153470,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://businessofgames.icartic.com/i/194819222?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!npZK!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png 424w, https://substackcdn.com/image/fetch/$s_!npZK!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png 848w, https://substackcdn.com/image/fetch/$s_!npZK!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png 1272w, https://substackcdn.com/image/fetch/$s_!npZK!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa1567db5-7491-42d1-8c83-b09ee0449583_1080x1080.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br>Stay ahead. Curated weekly at iCartic.com <br>tCARe, CARtic P</p><p><br>Last week's post: <a href="https://businessofgames.icartic.com/p/benchmark-drop-ipm-the-metric-that">Benchmark drop: IPM, the metric that tells you if your creative is working, or just spending</a> </p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://businessofgames.icartic.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Business of Games! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item></channel></rss>