Zynga Hires Matt Wolf as Vice President of Blockchain Gaming

Rhea-AI Summary

Zynga has appointed Matt Wolf as Vice President of Blockchain Gaming. He will focus on integrating NFTs and blockchain technology into Zynga's gaming ecosystem. This strategic hire aims to tap into new markets and enhance player engagement through innovative ownership models. Zynga emphasizes its commitment to eco-friendly practices while adopting these emerging technologies. Wolf's background includes leading a media agency specializing in gaming and blockchain, as well as a role at The Coca-Cola Company, enhancing Zynga's growth potential in the digital economy.

Positive

• Appointment of Matt Wolf as Vice President of Blockchain Gaming to spearhead NFT integration.
• Potential for increased player engagement and new revenue streams through blockchain technology.

Negative

• Concerns about the execution of blockchain initiatives and market volatility associated with NFTs.

Wolf to Spearhead the Integration of NFTs and Blockchain Technology into Zynga’s Diverse Gaming Ecosystem

SAN FRANCISCO--(BUSINESS WIRE)-- Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, today announced that it has appointed Matt Wolf as its Vice President, Blockchain Gaming. Wolf will focus on the opportunity to integrate ​​non-fungible tokens (NFTs) and blockchain technology into Zynga’s existing portfolio and owned IP, as well as to develop games from inception that are built with NFTs as part of the core gameplay loop.

“Emerging platforms and technologies are key parts of Zynga’s growth strategy - as evidenced by our recent game launches on Snap Games, Google Nest and Amazon Alexa,” said Scott Koenigsberg, Zynga’s Chief Product Officer. “With blockchain having a greater prominence in the digital economy, Wolf will help Zynga reach a new addressable market through NFTs and legitimize new ownership possibilities for gamers on our platforms. We are excited about the benefits that NFTs and blockchain technology can bring to our existing titles, new game pipeline and the future of gaming.”

“Zynga’s mission to connect the world through games makes NFTs and blockchain technology a natural next step in its evolution. Web3 token-based systems will allow us to innovate and deliver new forms of player value in our games, while also transforming how players interact with each other,” said Wolf. “By creating an integrated experience that enables players to become owners in their gaming journey, our goal is to expand Zynga’s audience reach and drive stronger engagement and retention. Above all, we are focused on maintaining a secure, inclusive and eco-friendly approach while harnessing this technology to enhance our player experience.”

Before joining Zynga, Wolf was the founder and CEO of D20, an emerging media agency that focused on gaming, esports, creator culture, blockchain and NFTs. During his time with D20, Wolf provided growth strategy, marketing insights, creative ideation and industry access. Prior to D20, Wolf was Vice President of Entertainment and Ventures at The Coca-Cola Company where he oversaw marketing strategy, business growth and venture investment innovation through the lens of gaming, music, film, fashion, social media platforms and creator culture. He is an ​​advisor to several startups and venture capital firms, including leading NFT platforms Epics Digital Collectibles and Kolex.

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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 Racing^TM, Empires & Puzzles^TM, Golf Rival^TM, Hair Challenge^TM, Harry Potter: Puzzles & Spells^TM, High Heels!^TM, Merge Dragons!^TM, Merge Magic!™, Queen Bee^TM, Toon Blast™, Toy Blast™, Words With Friends^TM and Zynga Poker^TM. 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.

FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements relating to 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 for cross-platform game play and 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/20211108005290/en/

Media Contact:

Kenny Johnston

kjohnston@zynga.com

Source: Zynga

FAQ

What is the significance of Matt Wolf's appointment at Zynga?

Matt Wolf's appointment signifies Zynga's commitment to expanding into blockchain and NFT gaming, aiming to enhance player ownership and engagement.

How will Zynga integrate NFTs into their games?

Zynga plans to integrate NFTs by incorporating them into core gameplay and existing titles, focusing on player ownership and unique digital assets.

What challenges might Zynga face with blockchain integration?

Zynga may face challenges like market volatility, regulatory scrutiny, and the need for secure, eco-friendly practices in the evolving blockchain landscape.

When was the announcement of Matt Wolf's appointment made?

The announcement regarding Matt Wolf's appointment was made on November 8, 2021.

What is Zynga's goal with blockchain technology?

Zynga aims to innovate and deliver new player value through blockchain technology, expanding its audience and enhancing user engagement.