Why Griffin Gaming Partners Is Making a 9-Figure Bet on Social Gaming (But Not VR)

Samson Amore
·1-min read

Peter Levin, the managing director of the L.A-based investment firm Griffin Gaming Partners, said there’s no secret about why his firm has focused on social gaming, including in a new $235 million funding raise. “Gaming is the fastest growing consumer trend in the world,” Levin told TheWrap. “It’s got a 248% growth trajectory over the next 10 years, which eclipses any other form of media.” Social features in games are helping to boost the rapid growth of gaming, said Levin, who co-founded Griffin Gaming Partners last year with games investor Phil Sanderson and LionTree managing director Nicholas Tuosto. For example, app analysis firm Sensor Tower reports developer Innersloth’s “Among Us” game, which surpassed 75 million installations in October and counts 217 million lifetime downloads, thanks to virality achieved during the pandemic. Sensor Tower estimates that cosmetic and in-game item sales topped $39 million this year. (The game was first released for mobile and PC in 2018.) Activision Blizzard’s “Call of Duty: Modern Warfare” and its battle royale mode “Warzone” also grew exponentially during the pandemic because of multiplayer social features. Activision said one month after the “Warzone” release that 50 million people had dropped in to play. “Amplified by the...

Read original story Why Griffin Gaming Partners Is Making a 9-Figure Bet on Social Gaming (But Not VR) At TheWrap