Startups

Game Factory, GameDev and Game Circle merge under GamesUP for entrepreneurs

Turkiye’s largest incubation centers in the field of games, Game Factory, Gamedev.ist and Game Circle, came together under the umbrella of GamesUP for entrepreneurs. At the same time, the announcement of Turkiye’s first Decentralized Autonomous Organizations, namely investment DAO, was made at the event. The new investment platform, which will bring together gaming startups with GFY DAO, aims to steer the global gaming industry.

GamesUP, which was established within YTU Yildiz Technopark and gave a new impetus to the game industry, will cooperate with three big game companies and provide support in many areas from incubation and acceleration support to human resources for game entrepreneurs.

The GamesUP Launch Party, which started with the opening speech of YTU Yildiz Teknopark General Manager Orhan Tanisman, brought together important entrepreneurs and investors of the game ecosystem.

In addition to the collaborations, Turkiye’s first investment DAO, GFY DAO, was also introduced at the event. Realizing a safe investment process for investors in the playground, GFY DAO is the new investment address where both game entrepreneurs will be supported and investors can participate without paying huge sums. Blockchain-based management is adopted with GYF DAO, the first decentralized autonomous system in Turkiye. Each member who owns an NFT also has authority and decision-making power in the mechanism. With GFY DAO, which aims for a more advantageous investment process than normal investment processes with DAO, those who want to invest in the sector will be able to make deposits to early stage game companies.

In the event that brought entrepreneurs and investors together, 4 entrepreneurs, including Enis Kirazoglu, talked about their new projects for investment support.

“We have more than 10 thousand members, 200 start-ups”

Stating that they manage a large game ecosystem, YTU Yildiz Teknopark Deputy General Manager Isa Turgut Inci said, “We started the GamesUP project about 18 months ago with the support of the Development Agency, and that’s when we lit the first spark. Today, even though it’s been 18 months, we have more than 10 thousand members, 200 start-ups and a large ecosystem in which we have reached a billion-dollar value. Here, our aim is to manage a large game ecosystem with the teams of Game Factory, Game Circle and Gamedev.ist, each of which has their own expertise.”

“We will bring both exports and investments to Turkiye”

Stating that they will ensure that investments are carried to Turkiye at the international level, Isa Turgut İnci said;

“We continue to invest. This time we took our scale to the next level. Our aim will be to manage an investment tour that can be decided by its own community with its up to 13 thousand members, again through NFT entitlement. In other words, to invest in games and Web 3.0 projects. But this time it will be led by all members in a democratic way. In other words, it will be a reliable and transparent platform that makes its own decisions. Besides, our other strongest side is internationalization. We also have very serious offices abroad. In the gaming ecosystem, especially Abu Dhabi and all emirates continue to invest heavily in this ecosystem. The investment side also made a serious impact abroad. We also invest in each of these start-ups I mentioned. There is a structure where the fixed leg of the intellectual capital compass remains in Istanbul, but we scan the entire world ecosystem with the other leg. The intellectual capital will be in Istanbul and we will bring both exports and investments to Turkiye.”

“We wanted to solve ‘trust’ and ‘transparency’ issues with DAO”

Game Factory Co-Founder Murat Kahraman, on why they use the DAO system, said, “There are actually two problems with the DAO system. One is trust and the other is transparency. We do not rely on a management team as in traditional companies and leave all the management to them, all members of the DAO are in management by voting. On the transparency side, since all the rules are already written in the code, both the rules and all the decisions made are written on the blockchain and are completely transparent and accessible by everyone. ”

“All members will be both on the board and around”

Emphasizing that the members are both in management and partnership, Murat Kahraman said, “The DAO we make is also an investment DAO. Our goal is to raise a fund and invest in crypto for early-stage gaming and Web 3.0 with these funds. Our difference here is that people enter the GFY DAO by purchasing NFTs with low startup costs, and the money collected from these NFTs constitute our fund. Each NFT owner also becomes a partner of the DAO as much as the number of NFTs.”

“If we are successful, we will gain an important place in the whole world”

Expressing that they can gain an important place in the sector with GFY DAO, Kahraman finally gave the following in his speech:

“There are those who are very successful in normal traditional game mutual funds in Turkiye. But in order to enter traditional mutual funds, an investor can either be an accredited investor, a family office, or enter as another fund, and they can enter with very high sums. That money has to be tied for a very long time. But the main difference of DAO is that it is open to everyone at very low cost. That’s the feature of DAOs anyway; to create a large community and benefit from the power of that community. Therefore, high entry costs are not created. In fact, you can even enter the platform with only 80 dollars now. At the same time, it will enable us to have an important place in this sector all over the world.”

Sourcec: Egirisim / Prepared by Irem Yildiz

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