Zynga and Forte Announce Strategic Partnership to Drive Rapid Development, Create More Economic Opportunities for Players in Blockchain Gaming

Rhea-AI Summary

Zynga Inc. (NASDAQ: ZNGA) has partnered with Forte to explore opportunities in the blockchain gaming market. This strategic alliance aims to leverage Zynga’s intellectual property to create engaging blockchain games, enhancing player economies. The global gaming industry generates over $180 billion annually, with nearly 3 billion players. Both companies aim to develop a trusted ecosystem that enhances player experience and economic opportunities within Web3 and blockchain settings. Specific partnership terms remain undisclosed.

Positive

• Strategic alliance with Forte to explore blockchain gaming opportunities.
• Potential to leverage Zynga's IP and community to enhance blockchain game development.
• Focus on creating a safe and trusted ecosystem for players.

Negative

• None.

Partnership Allows Integration of New Blockchain Technologies, Scalable In-Game Player Economies in Fast-Evolving Blockchain Games Market

SAN FRANCISCO--(BUSINESS WIRE)-- Today, Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, and Forte, a leading developer of blockchain solutions for game publishers, announced they have formed a strategic alliance to promote and pursue the exciting opportunities in the blockchain games market, including leveraging Zynga’s intellectual property, brand and community to develop blockchain games that are fun and enduring.

The games industry today is the largest form of entertainment globally—larger than film and music combined—entertaining nearly 3 billion players and generating over $180 billion in annual revenue. Zynga and Forte believe that the evolution of blockchain technology and non-fungible tokens (NFTs) is creating new economic and creative opportunities for game developers, their partners and players.

“Our goal is to bring a new level of quality and fun into Web3 and blockchain games, while also providing a safe and trusted ecosystem that will keep our valued players and communities entertained for years to come,” said Matt Wolf, Vice President of Blockchain Gaming at Zynga. “We’re excited to partner with Forte because of the team’s long‐term vision and approach to blockchain solutions and web3 development.”

“We are proud to partner with Zynga as we look to advance the blockchain gaming ecosystem in a responsible way that will engage and benefit gamers, and provide them more economic opportunities. We have built the Forte platform with best-in-class interoperability mechanics and compliance measures in our continuing efforts to bring safety, stability and trust to both developers and players,” said Forte co-founder and CEO Josh Williams. “Zynga is a renowned leader and brand within mobile games; we are honored to be a part of this partnership to further our goal of promoting and creating a transformative experience where players can unlock and capture new forms of value and property rights within the games they enjoy.”

The specific terms of the partnership have not been disclosed.

ABOUT ZYNGA INC.

Zynga is a global leader in interactive entertainment with a mission to connect the world through games. With massive global reach in more than 175 countries and regions, Zynga has a diverse portfolio of popular game franchises that have been downloaded more than four billion times on mobile including CSR RacingTM, Empires & PuzzlesTM, FarmVilleTM, Golf RivalTM, Hair ChallengeTM, Harry Potter: Puzzles & SpellsTM, High Heels!TM, Merge Dragons!TM, Merge Magic!™, Queen BeeTM, Toon Blast™, Toy Blast™, Words With FriendsTM and Zynga PokerTM. With Chartboost, a leading mobile advertising and monetization platform, Zynga is an industry-leading next-generation platform with the ability to optimize programmatic advertising and yields at scale. Founded in 2007, Zynga is headquartered in California with locations in North America, Europe and Asia. For more information, visit www.zynga.com or follow Zynga on Twitter, Instagram, Facebook or the Zynga blog.

ABOUT FORTE

Forte is a leading provider of blockchain solutions for game publishers. Its end-to-end platform enables the emergence of community economics, a system where the interests of game developers and players are aligned, leading to healthier, sustainable game communities. The team is composed of longtime industry members (Unity, ngmoco, Riot Games, Electronic Arts, Sony, and Rockstar Games, among others), and is currently working with over 40+ acclaimed game developers from across the industry to reimagine the economics of games. For more information, visit www.forte.io

FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements relating to a strategic alliance and future business plans and initiatives, including the development of non-fungible token (NFT) and blockchain–based products, the integration of NFT and blockchain-based technologies within our products, customer adoption and the growth potential of blockchain and related technologies and services, our ambitions related to ownership of blockchain-based digital goods, our ability to innovate with emerging platforms and technologies, and our ability to balance security, inclusivity and environmental considerations in these efforts. Forward-looking statements often include words such as “will,” “expect,” “plan,” “intend,” and statements in the future tense are generally forward-looking. The achievement or success of the matters covered by such forward-looking statements involves significant risks, uncertainties and assumptions. Undue reliance should not be placed on such forward-looking statements, which are based on information available to us on the date hereof. We assume no obligation to update such statements. More information about these risks, uncertainties and assumptions is or will be described in greater detail in our public filings with the Securities and Exchange Commission (the “SEC”), copies of which may be obtained by visiting our Investor Relations website at http://investor.zynga.com or the SEC’s website at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211221005060/en/

Kenny Johnston

602-999-1890

Source: Zynga

FAQ

What is the recent partnership announced by Zynga (ZNGA)?

Zynga formed a strategic alliance with Forte to explore blockchain gaming opportunities.

How does Zynga plan to utilize blockchain technology?

Zynga plans to leverage its intellectual property and community to create engaging blockchain games.

What is the size of the gaming industry as mentioned in Zynga's announcement?

The gaming industry generates over $180 billion annually, entertaining nearly 3 billion players.

Are there any financial terms disclosed about the Zynga-Forte partnership?

No specific terms of the partnership have been disclosed.

What economic opportunities does Zynga foresee in blockchain games?

Zynga aims to create a safe ecosystem that provides new economic opportunities for players.