Tencent Buys Massive Stake In Assassin’s Creed Valhalla Maker

Tencent Buys Massive Stake In Assassin's Creed Valhalla Maker

Image: Ubisoft Tencent has dumped another small fortune into one of gaming’s biggest companies. Ubisoft announced on Tuesday that the Chinese conglomerate would be increasing its investment in the Assassin’s Creed maker by nearly $300 million through an elaborate set of financial maneuvers. Namely, rather than buy up shares of Ubisoft directly, Tencent is buying … Read more

Microsoft, Nintendo Won’t Raise Console Prices Despite PS5 Hike

Microsoft, Nintendo Won't Raise Console Prices Despite PS5 Hike

Image: Xbox / Nintendo / Sony / Kotaku / tostphoto (Shutterstock) Earlier today, Sony announced that in most regions, the PlayStation 5 would see a price increase as a result of inflation. In response to this news, people began questioning whether other console makers would enact similar price increases. The answer, at least for now, … Read more

GameStop Will Start Paying Some Employees With Meme Stock

GameStop Will Start Paying Some Employees With Meme Stock

Photo: Michael M.Santiago (Getty Images) GameStop, a very coherent and logical company that sells physical video games but also fluffy toys, worthless NFTs and the promise of a get-rich-quick schemejust announced an “improved compensation” scheme for the most senior employees of its bricks-and-mortar video game stores. In a memo sent to employees earlier today—and shared … Read more

Assassin’s Creed Publisher Could See Tencent Take The Reigns

Assassin's Creed Publisher Could See Tencent Take The Reigns

Image: Ubisoft Tencent appears to be doubling down on its investment in Ubisoft. While it already owns 5 percent of the Assassin’s Creed editor, Reuters now reports the Chinese mega-conglomerate with huge investments throughout the gaming industry has its sights set on becoming Ubisoft’s single biggest shareholder. Its plan for achieving that? Pay double what … Read more

Sony Says Call Of Duty Is Essential, Xbox Disagrees

Sony Says Call Of Duty Is Essential, Xbox Disagrees

Image: Activision Microsoft, in a bid to downplay the possible ramifications of its attempted acquisition of Activision to various international regulating agencies, is arguing that the call of duty publisher it’s spending billions of dollars on doesn’t actually produce any games that could be considered “must haves.” Meanwhile, Sony is pushing back and explaining that … Read more

GameStop Launches NFT Marketplace After Laying Off Employees

GameStop Launches NFT Marketplace After Laying Off Employees

Image: GameStop GameStop celebrated the launch of its NFT marketplace on Monday. Its Ethereum-based depot for virtually autographed JPEGs arrived just days after the meme stock giant ruthlessly laid off more employees, and based on my short tour through its website, it’s also still a little broken in places. No one can quite seem to … Read more

Gas Prices Are Falling (For Now)

Gas Prices Are Falling (For Now)

Photo: Brandon Bell (Getty Images) The price of a tank of gas has been falling since it reached record levels in June, BMW saw its sales drop in the first half of the year, and one European nation experiments with free public transport. All that and more in The Morning Shift for July 8, 2022. … Read more

GameStop Does Mass Layoffs As Meme Stock Surges

GameStop Does Mass Layoffs As Meme Stock Surges

Photo: Michael M.Santiago (Getty Images) A ruthless sea change is underway at GameStop. The company’s latest Chief Financial Officer, Mike Recupero, has resigned and another round of mass layoffs is underway at the video game retailer even as its meme stock continues to soar in price. CEO Matt Furlong told staff in an email reviewed … Read more

Crypto Broker Voyager Digital Declares Chapter 11 Bankruptcy

Crypto Broker Voyager Digital Declares Chapter 11 Bankruptcy

Photo: justin sullivan (Getty Images) Like its namesake, Voyager Digital wanted to go where few crypto trading companies have gone before, to truly make crypto “mainstream” with items like debit and credit cards that earn users crypto rewards. Instead of going “to the moon” and beyond, Voyager is taking a parabolic trajectory back down to … Read more

Even More Crypto Lenders Struggle to Stem Flood of Withdrawals

Even More Crypto Lenders Struggle to Stem Flood of Withdrawals

Image: SIVStockStudio (Shutterstock) The number of crypto lending platforms that actually let users take their crypto home with them is getting progressively smaller. One company even reported its users were draining their accounts of close to $198 million in total over the past three weeks. CoinLoan announced Monday it was putting a big hold on … Read more