Fenix Games has raised $150 million to create a new kind of publisher for blockchain gaming.Fenix Games plans to acquire, invest and publish both existing games and blockchain games of the future.

The investors include Phoenix Group and Cypher Capital. The new company suggests that blockchain gaming — which has had a kind of Cambrian explosion in the last couple of years — is heading toward a consolidation where big companies are going to emerge by acquiring or funding all strong startups. In other words, Fenix Games hopes to be in a good position to roll up a lot of companies together into a single strong company with a big portfolio — one that can survive the current doldrums in blockchain games.

In both of those cases, an entire market was created and it led to an ecosystem to allow consumption of content. However, for blockchain gaming, this market does not exist currently, said Ko. The company was started by a group of industry veterans from gaming, blockchain and financial markets.