Reality Gaming enters China with Chengdu deal
London gaming startup Reality Gaming Group, publisher of the award-winning Reality Clash, has signed a Memorandum of Understanding (MOU) with the Chengdu New Economy Development Commission.
The agreement will give the company and its technology unique access to Chinese markets, the company said.
The news comes after Reality Gaming Group announced a £1.5m million funding round via a ground-breaking Security Token Offering (STO), as well as traditional equity investment.
The UK-based company will use the funds to accelerate the development of Reality Clash and the creation of new games based on the same AR and blockchain platforms, with expansion into China and the US key objectives.
The Chengdu New Economy Development Commission is a department funded by the Chengdu Municipal Government that was established in January 2019.
It is a ‘first of its kind’ public body that works towards solving the issues of traditional public administration, government responsibility and institutional innovation relating to building digital economies.
Foreign app licences
The body grants only five licenses per year to foreign app developers, with Chengdu province home to a potential audience of 24 million people, 8-9 million of which reside in Chengdu City.
Reality Gaming Group is also the only Western games specialist to be invited into the program.
The MOU will see the Chengdu government promote Reality Gaming Group and support its entry to the Chinese market, encompassing flagship mobile AR combat game Reality Clash, future game releases and its AR, location and blockchain games platforms, which the publisher is licensing to 3rd party developers.
Reality Gaming Group will also open an office locally and was invited to speak at the prestigious Chengdu Creativity & Design Week event, which takes place in Chengdu City November 8th-11th and attracts 3m+ visitors.
Reality Clash recently won the Blockchain in Mobile award at the Meffys, the Best AR/VR Game at the Crypto Games Conference and is a Finalist in the TIGA Awards 2019.
Morten Rongaard, Co-Founder of Reality Gaming group, said: “I’m very honoured that Reality Gaming Group has been acknowledged by the Chengdu New Economy Development Commission for our innovative solutions and usage of new technology in the fields of games, AR, AI, GPS and blockchain.
“With this agreement I’m very excited to start sharing knowledge, exchanging talent and set up our headquarters for China here in Chengdu.
I am very grateful for the support Reality Gaming Group have received so far from the Chengdu government and proud to be one of the pioneers in China for mobile gaming.”
Liu Jianing, Deputy Director of Chengdu New Economy Development Commission, said: "Reality Gaming Group is the developer of the world’s first AR combat game, Reality Clash, and is also a pioneer in building blockchain technology trading systems in games.
“Reality Clash’s AR combat game mechanics and tokenised asset trading model has gained great reputation and attention, with the game is widely popular in Europe.
“We are delighted to have signed this MOU to help bring these great experiences to China.”