Chafgames, a subscription-based gaming platform, announced the closing of a Seed round led by Philosophia Ventures and The Ventures. According to CEO Hojung Yeo, the fresh cash will be put toward several efforts, including a minimum guarantee for content providers.
Speaking to TechCrunch, its founders Hojung Yeo and Minjun Kim said: "Currently, the desktop indie game market is in a vicious cycle, and Chaf will create a virtuous cycle ecosystem for gamers and game developers."
According to data, 96 percent of games are indie games, but AAA games (4 percent of games) revenue accounts for more than 70 percent of the total market share.
To solve the long-tail problem caused by payment by case, Chaf led the charge in creating a virtuous cycle structure by operating a subscription-type game service, which is a game version of Netflix, in a bid to lower the barrier to individual game purchases and execute external marketing by Chaf's budget.
Chaf provides all the features that game developers need to publish games in a developer-friendly way. It only takes 10 minutes of the developer's time to add games to the Chaf platform. Chaf leads the way in providing a subscription revenue-share model with the goal of continuous and sustainable settlement rather than short-term sales.
Chaf offers incredible benefits, including the ability to chat with friends or groups via text or voice while playing games. Its premium users can play 1000+ games for only $9 a month, and new games are added every month. The subscription-based gaming platform further supports multiple languages.
Individuals who want to join the membership may visit Chafgames. Its user client will start in March 2023, complete with free perks for members.
Developers who wish to partner with Chafgames may visit its developer's website for more information.
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Company Name: Chafgames
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Country: Korea
Website: http://chafgames.com/
