Former Take-Two CEO's New Blockchain Game Publisher Wants the Next 'Grand Theft Auto'
*By Chloe Aiello*
Former Take-Two CEO Kelly Sumner is looking for the next big game. But rather than investing hundreds of millions, his blockchain-based video game publisher Planet Digital Partners is targeting mid-level games often ignored by big publishers.
"Electronic Arts, Take-Two, Activision ($ATVI), etc., they are spending hundreds of millions of dollars on a game, expecting to be ... getting billions. And the kind of middle, where there's sort of really good, exciting games, isn't there," Sumner told Cheddar Friday.
Planet Digital launched a Security Token Offering on Thursday with the goal of democratizing game development and funding alternative games. The company is offering 38 million "Rocket Tokens" at $1 per token to accredited investors. Sumner said he expects investors will be paid dividends as soon as the first quarter of 2020.
"This raise will allow us to actually go out and find maybe the next 'Grand Theft Auto,' maybe the next 'Guitar Hero,' because they started off ー not as billion dollar franchises ー but they became billion dollar franchises," Sumner said.
For investors, the token launch represents investment in a portfolio of games. Three games in the pipeline for distribution so far are Cabela's "The Hunt," "Cooking Mama," and Bass Pro "The Strike." Sumner admitted they aren't games he would necessarily play, but said they have a promising market.
"We're not trying to get the next soccer game or the next 'Call of Duty,' etc. We are looking at the opportunity of investing $5 million into a game, $10 million into a game ー a game that will have revenues of $50 million plus, where our competitors ... won't even get out of bed for that," he said.
Sumner also said blockchain offers opportunities for Planet Digital, not only in funding and security, but in interactive game-play. He said there's potential to introduce interactive trading features between game players and game watchers, which could unveil a whole new element to game play.
"Blockchain brings some really interesting opportunities," he said.
All-Pro Baltimore Ravens offensive lineman Ronnie Stanley joins Cheddar News to discuss launching The Ronnie Stanley Foundation, whose mission is to improve the quality of life for rescue dogs, provide training that cultivates therapeutic properties, and match each rescue with an individual who has faced a challenge in life such as a chronic illness or emotional trauma.
Jill and Carlo cover the latest with the infrastructure bill, the growing state rebellion over boosters, Trump's dereliction of duty on the pandemic, Taylor Swift's reign of cultural domination and more.
Danielle Mone Truitt, the actress who stars as Sergeant Ayanna Bell and partner to Chris Meloni's Elliot Stabler in the latest series in the Dick Wolf universe, joined Cheddar to discuss her leading role.
2021 has been the year of many things, and one of them is the NFT or non-fungible token. We've seen NFTs come about for so many different things.
Digital artists have used them to sell their artwork in a more traditional art transaction than the internet had previously allowed. We've seen specific NFT campaigns like the pudgy penguins amass large followings. And now we're seeing them expand into horror films just in time for spooky season.
The iconic horror movie franchise "Texas Chainsaw Massacre" has launched its debut NFT line entitled "Leatherfaces." the illustrations are designed by Skinner in partnership with Ultra Rare to reveal a total of over 10,000 Leatherface avatars. The collection gives fans, NFT fiends and blockchain fanatics access to a new Texas Chainsaw Massacre metaverse unlike any that has been seen before.
Richie Hobson, co-founder of Ultra Rare, joins None of the Above to discuss.
The USO is hosting a 72 hour streamathon on Twitch called #OperationPlayItForward, and is tapping into Gen Z superstars and gamers to raise money for the organization through the power of the esports community. The goal here is to help support both the new generation of troops and their families. Director of Global Gaming Operations at USO Callum Fletcher and Former UFC Lightweight Champ and Twitch Partner Jens Pulver, joined Cheddar to discuss more.
Sen. Sheldon Whitehouse joined Cheddar to discuss the latest push to get rid of Daylight Savings Time. A practice where several say can cause havoc on one's sleeping schedule and cause disruptions to our economy.
The past decade or so has been a has seen massive change-- usually good-- for the LGBTQ+ community. Same-sex marriage has seen broader acceptance, and there's been increased conversation about the reality of gender identity. Now, folks who don't identify as male or female can travel while staying true to their more authentic self.
The Biden administration has issued the first passport with a gender-neutral designation "X." the passport was issued to Dana Zzyym, an intersex activist from Colorado, after a long legal battle with the state department in which Zzyym argued they shouldn't be required to lie about their identity on their passport. Advocates for such changes have applauded the move, saying it will allow people who don't identify as male or female to travel the globe in a more safe and visible way.
Paul Castillo, counsel at Lambda Legal and Zzyym's attorney in this case, joins None of the Above to discuss.
The Biden Administration has announced its latest plans to support veterans who had been exposed to toxic chemicals from burn pits. According to several veterans who served in Iraq and Afghanistan, a number of them were exposed to hour-long periods of burn pits. As a result, many of them say they have suffered from severe life-long side effects. Co-founder at Burn Pits 360 Le Roy Torres, joined Cheddar to discuss more.
If you've been to the grocery store lately you may have noticed that your grocery store bill is higher than usual. It looks like prices aren't slowing down anytime soon. According to recent data, inflation has spiked to a 30- year high. Editor-in-Chief from Investopedia Caleb Silver, joined Cheddar to discuss more.
