Square Enix has recently announced that they are going to invest in the Blacknut Cloud Gaming platform. This strategic investment aims to meet the increasing worldwide demand for cloud gaming services. According to Square Enix themselves, this investment is made to prepare for the future and will help Blacknut expand its selection of games.
Why the future? Well, Newzoo currently estimates that the Cloud Gaming market to increase by 4x its size by the year 2024. The latest report also shows that the market has increased to a total of $1.5 Billion USD. This number was generated by 21.7 million paying users across cloud gaming services throughout 2021.
The investment will support ongoing R&D to cement Blacknut’s technological lead, accelerate the market reach of its B2B solution, and further expand Blacknut’s portfolio of games which already boasts more than 500 games from a host of well-known publishers. Olivier Avaro, CEO at Blacknut said the following in a press release.
We are very proud to welcome Square Enix, a company that’s genre defining franchises continue to win over generations of gamers. It’s decision to invest in Blacknut is a real endorsement of our vision, technology and market approach.
Square Enix understands the potential of cloud gaming, as players continue to transition away from physical formats, finding new ways to deliver disruptive gaming experiences from the cloud.
Meanwhile, Hideaki Uehara, Director of Business Development at Square Enix added the following:
Blacknut is a company at the forefront of cloud gaming, with a unique combination of technical expertise and a vision for the future of gaming, We are excited by the potential of cloud gaming and this partnership will allow us to stay on top of new developments in the space, as well as expedite our future growth.
Blacknut is a cloud streaming service that's currently available in 45 countries spanning Europe, North America, South Asia and most recently expanding into Latin America and the Middle East. The service offers an extensive game catalog that is available as a click-to-play experience across all internet-connected screens. The service is available on computers, mobiles, smart TVs, and set-top boxes, or directly through the Webapp on Chrome and Safari.
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