Fnatic partners with Hivemind Capital

British esports organization Fnatic has announced a partnership with Hivemind Capital, a cryptocurrency asset management company. The deal is reportedly part of a funding round that includes a host of other crypto entities ranging from platform GuildFi to gaming and investment fund WW Ventures.

Sam Matthews, Founder and CEO of Fnatic: "We believe that games are quickly becoming platforms for their communities. The partnership with Hivemind Capital represents a big step for us towards a world where every gamer owns their digital assets and most games have a transparent, prosperous an ecosystem between developers and users similar to the App Store that allows millions of gamers to make a living playing games."

Fnatic says the strategic partnership will allow the organization to go beyond existing partnerships and continue developing its own Web3 applications to improve the performance of its players. The club will also reportedly explore the possibility of scaling the digital economy to improve the quality of the gaming experience.

Matt Zhang, founder and managing partner of Hivemind Capital: "Fnatic and its global fan base represent exactly the type of Web3-ready franchise we're so excited about. Iconic brand Fnatic is a pioneer in esports, and the management team has built a strong, high-tech business with years of experience, we believe the gaming sector is uniquely paired with blockchain functionality and applications, making Fnatic a natural candidate to sponsor accelerate its Web3 efforts."

The British club is currently partnering with a number of other brands and companies, including asos, BMW, Chillblast, Crypto.com, L'Oréal and Jack Link's, among others. In turn, Hivemind Capital is a relatively young company founded at the end of 2021 by former Citi Bank CEO Matt Zhang.