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GameOn Breaks Even in October, Closes Five Deals in Two Months

Dec 12, 2022

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 GameOn Entertainment Technologies Inc. a leading game technology company partnered with the world's biggest IPs to launch, operate, and monetize web3 games, today announces it broke even for the first time in October. The milestone month comes off the back of a flurry of new deals, including Karate Combat, RDB Car Club and Crypto Jets Club.


 


CEO Matt Bailey said: "Recent volatility in the broader public market has emboldened us to remain patient, optimize resources, and focus diligently on revenue. In light of this, a number of high-value opportunities have emerged, allowing us to grow our addressable market, revenue, and profitability. Our patience and diligence has paid off, with a number of exciting partnerships being executed and a break even month in October."


 











The company has accelerated growth in the back half of 2022. Milestones include:


 



  • Closing a flurry of new deals in the past two months, with another in-contract, including Karate Combat, RDB Car Club and Crypto Jets Club. These deals alone are projected to generate more than $1.4M in year one revenue with an expected gross margin of 80%.

  • Partnering with Karate Combat to launch an NFT mint and fantasy game. GameOn will keep 80% of the revenue generated. KC35 saw 6.6M livestreams and August saw 143m video views. The league has global distribution in 100+ countries and is partnered with CBS, Globo, Eurosport, BeIN, & ESPN.

  • Breaking even in October, remaining on track to be profitable in 2023.


This is in addition to prior highlights since going public (just 17 months ago):



  • Closed an oversubscribed financing of $5.8M at a $15M pre-money valuation, announced on March 11, 2021.

  • Generated and booked more than $2.8M in sales with an expected gross margin of 80%.

  • Launched products for (or soon to launch products for) Chibi Dinos, Gaming Society (in partnership with the WNBA), YOOM (formerly Tetavi), RDB Car Club, Crypto Jets Club, and Karate Combat.

  • Closed strategic investments from Times Internet and Polygon (non-dilutive).

  • Pioneered web3 gamification and a whole new sales vertical leveraging our existing, versatile technology platform


Bailey added: "We continue to work efficiently on identifying opportunities that will drive revenue, profitability, and shareholder value. We remain confident on fulfilling profitability in 2023 as management continues to focus aggressively on new sales."


The company also announced an upcoming webinar on November 16 at 10 AM PST / 1 PM EST. To be added to the webinar calendar invite, please email matt@gameon.app.


On Behalf of the Board of Directors:
Matt Bailey, Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
/>matt@gameon.app


ABOUT GAMEON ENTERTAINMENT TECHNOLOGIES INC.

GameOn partners with the world's biggest sports, media, and entertainment IPs to launch brand-building, money-making web3 games. We turn fans into superfans - engaging, retaining, and monetizing audiences, and getting upside in the entire economic cycle of web3 games. With a diverse team of web3, gaming, sports, and media veterans with experience at Take-Two Interactive, Twitch, EA, Dapper Labs, and the Brooklyn Nets, GameOn works with broadcasters, TV networks, streaming platforms, leagues, tournaments, and web3 companies to launch best-in-class web3 games. Customers include NBCUniversal, Bravo, MX Player, Karate Combat, and Gaming Society.

URL : http://gameon.app.

Contact Information:

matt@gameon.app.

Tags: United States, English