Game developer Maze Theory and Web3 tech company Pluto Digital have officially merged to form Emergent Entertainment PLC. The company’s estimated value is said to be over $65 million, and the company is gearing up for a future IPO event.
Founded in 2018 and based in London, Maze Theory has released VR games such as Doctor Who: The Edge of Time and Doctor Who: The Lonely Assassins. Despite being a subsidiary of Emergent Entertainment, the game developer will continue to focus solely on developing mixed reality and VR games.
The studio’s Peaky Blinders: The King’s Ransom, scheduled for release in 2023, won’t be a Web3 game.
The announcement also said that Simon Rutter, former vice president of Sony Interactive Entertainment, is also joining as chairman of the board.
Ian Hambleton, CEO of Emergent Entertainment, said, “We are excited to bring together AAA game creators and advanced Web3 engineering skills in a way that has yet to be seen.