Phynd Secures $10 Million to Launch Innovative Cloud Gaming Platform for Smart TVs
Phynd has successfully raised $10 million in funding to launch its groundbreaking cloud gaming platform that operates without any subscription fees. This venture is spearheaded by a noteworthy entrepreneur.
Innovative Vision: Phynd’s Founding
Cofounded by André Swanston, an influential figure in technology and media, the Stamford, Connecticut-based Phynd (pronounced “find”) aims to democratize access to high-quality gaming experiences on smart TVs and various other connected devices.
“Phynd is designed as a non-subscription-based gaming platform primarily for smart TVs; while it will be accessible across multiple devices, our main focus is on televisions,” stated Swanston, who previously served as CEO of Tru Optik—a firm specializing in data analytics for streaming services—during an interview with GamesBeat.
A Strong Start: Seed Funding Details
The recently completed funding round was led by Wellington Management with contributions from Bessemer Venture Partners, Connecticut Innovations Fund, and Jozy Altidore. This oversubscribed seed investment will facilitate the ongoing development of Phynd as it gears up for its much-anticipated beta release slated for 2025.
The Market Landscape: A Growing Consumer Base
In the last five years alone, over 500 million smart TVs capable of running cloud gaming applications have been sold worldwide—outstripping both gaming PCs and consoles combined. This significant number lays a strong foundation for Phynd’s disruptive entrance into the market.
Cloud gaming provides players with the flexibility to engage in video games using any internet-enabled device, removing barriers associated with costly hardware investments while ensuring games are continuously updated.
The Future of Cloud Gaming: Projections and Opportunities
The advancements in cloud computing technologies alongside widespread availability of high-speed internet are propelling this sector forward. As reported by Fortune Business Insights, this market is expected to expand at an astonishing compound annual growth rate (CAGR) of 38% from 2024 through 2032.
This model also presents exciting advertising opportunities within the realm of video games. Presently, revenue generated through advertisements or sponsorships accounts for just about 7% in console or TV-based games compared to a striking 50% across broader media categories.
Pioneering Advertising Solutions Through Cloud Gaming
With its offerings aimed at connecting brand advertisers directly with this hard-to-reach big-screen audience via unobtrusive audience-centric advertising models and sponsorships, Phynd addresses persistent marketing hurdles while enhancing overall industry revenues amidst rising expenses.
An Attractive Offer for Gamers
This innovative platform promises gamers an enticing proposition: access to premium-quality games free from subscription costs on devices they already own—a stark contrast from competitors who often require monthly fees exceeding $30/month!
Swanston’s Noteworthy Journey into Tech Innovation
Pioneering targeted advertising strategies via smart televisions and speakers when he co-founded Tru Optik—a data analytics entity providing insights specifically focused on connected TV ecosystems—Swanston sees parallels between his past ventures and his current project at Phynd. His former company was acquired in a deal exceeding nine figures before he hit his forties!
“Years ago,” said Swanston “the general consensus among experts suggested that subscription services would overshadow traditional TV advertising; however today it has emerged as one of streaming television’s leading revenue sources! Free content appeals broadly—and delivered correctly via ad-supported platforms can benefit all stakeholders.”
A Tailored Experience Aimed At Consumers And Developers Alike
“What distinguishes us fundamentally lies within ready accessibility targeting non-console owners alongside impactful analytical tools governing engagements more effectively than traditional models”, noted Elliott Robinson Partner Bessemer Ventures supporting our cause here.”
.“We anticipate substantial changes reshaping player experiences—from novices unfamiliarity towards masterful interactions mutually beneficial couples engaging consistently”, responded Jackson Cummings leading Wellington Access Ventures emphasizing confidence remaining consumer-centered combining exceptional developer approaches throughout diverse realms targeting advertisement possibilities galore.”
Phynd.Games: Revolutionizing Cloud Gaming on Smart TVs
Introduction to Phynd’s Beta Program
Gamers in the U.S. can now register for the beta waitlist at Phynd.Games. Recent observations reveal that cloud gaming solutions on smart televisions have predominantly served a supplementary role, often functioning merely as gateways to access previously owned games or those available for streaming and purchase.
The Future of Social Engagement in Gaming
“There hasn’t been a significant enhancement in social interaction or game discovery,” commented a company representative. “Current models are failing to fully leverage the capabilities presented by smart TVs. What sets us apart is our commitment to fostering genuine engagement and community experiences for gamers, beyond just allowing them to stream their existing games.”
A Neutral Platform for Game Publishers
Phynd aims to maintain neutrality within the gaming market, focusing on assisting publishers and developers in reaching wider audiences while monetizing their offerings more effectively. The intention is also to simplify content discovery and create engaging communities for players.
“We don’t create or distribute our own games; this eliminates any conflict of interest,” he explained. “Unlike major platforms like Xbox or Sony, which compete with publishers whose content they distribute, we prioritize partnership without competition.”
Strategic Partnerships Development
!Partnerships with TV Manufacturers
Phynd plans to forge partnerships with various smart TV manufacturers but has yet to make any announcements about specific collaborations. The CEO mentioned that more information will likely be disclosed this spring regarding partnerships with both TV manufacturers and game developers.
“I am thrilled about leveraging my established relationships within OEMs, ad tech companies, and content providers as we roll out our platform,” he stated.
Cost Trends in Streaming Services
As an increasing number of streaming services emerge, the cost per session has significantly dropped over recent years—a trend mirrored in gaming too.
“The surge in high-speed broadband connectivity is noteworthy,” added Swanston. “Concerns once arose regarding whether there would be sufficient bandwidth for 1080p streams; now HD streaming is commonplace across 10 million homes simultaneously and even 4K resolution options are available globally.”
In addition, Comcast recently unveiled its new lag-free gaming technology at no extra charge for its subscribers.
“Expect more such announcements moving forward; Comcast was a vital client of Tru Optik across multiple services,” he noted.
This improved infrastructure presents bright potential possibilities for broadband-based cloud gaming applications tailored specifically for smart TVs.
Advertising Opportunities on Smart Screens
“With increased capacity comes expanded opportunities,” he remarked about advertising potential alongside changes seen just three years prior. Analyzing revenue generated from large-screen gameplay—whether through PC gaming setups or console-connected televisions—shows that only around 7% originates from brand-sponsored media engagement such as advertisements or sponsored quests; contrast this with nearly 50% across broader media sectors.
Transitioning Toward Game-Centric Advertising
Leading pioneers like Netflix initially dominated subscription revenues from streaming services; however, Swanston anticipates substantial growth wherein over half of total streaming revenue may soon derive from advertising instead.
“All significant growth sectors lie within free ad-supported models,” he explained regarding OEM reliance on these revenue streams since hardware sales yield little profit margins themselves.”
Young consumers are gravitating toward video games far more than older populations do—a trend advertisers cannot overlook as they seek effective marketing avenues involving interactive mediums such as video games.
“It’s vital—even critical—for industry survival—to engage consumers through innovative methods related directly back into gamified contexts,” Swanston expressed passionately while raising concerns over past failures linked mainly due largely towards intrusive advertising experiences ranging from unskippable mid-game ads forcing interruptions onto players’ sessions rather than delivering seamless communication opportunities—all situations repeatedly encountered negatively by gamers today!”
He emphasized how essential it remains establishing refined targeting methodologies alongside proactive analytics reporting akin found already present within traditional linear television formats compared digital interfaces previously employed online thus bringing distinct advantages towards achieving satisfactory results quickly!
“My previous venture was responsible developing patented household graph technologies enabling efficient data-driven strategies ensuring minimal disruption during gameplay itself!” said Swanston confidently.”
Enhancements in Cloud Gaming: A Glimpse into the Future
In the past two years, advancements in cloud gaming technologies have significantly improved user experiences, according to industry expert Swanston. When Google Stadia launched initially, it faced major hurdles. At that time, options for 5G connectivity over Wi-Fi were limited, and high-speed broadband was still not widely accessible across much of the United States.
“They were simply ahead of their time,” he remarked. “Today’s cloud gaming experience is far more refined and enjoyable.”
The Evolving Landscape of Game Loading Times
Swanston highlighted that during game loading phases—moments when players might encounter brand sponsorships or promotional content—the potential for engaging advertising arises.
“We are optimizing our economics through such avenues,” he explained. “The value proposition we offer to gamers has substantially improved. Our aim is to ensure that all stakeholders within the ecosystem derive benefits from these innovations. We see great promise for game publishers and studios seeking ways to broaden their revenue channels beyond mere game sales or in-game purchases.”
Commitment to Value Across the Ecosystem
Swanston emphasized a commitment not just to monetization but also to delivering value back into the gaming ecosystem. “Our original equipment manufacturer (OEM) partners are exploring effective ways to capitalize on media consumption across their devices,” he noted, adding that fostering opportunities for players and independent developers remains critical.
A Closer Look at Competitors: Samsung Gaming Hub’s Innovations
Swanston pointed out that Samsung’s Gaming Hub allows users to access high-quality console and PC games using a smart TV without needing a dedicated console itself; however, it primarily operates on subscription fees.
The company behind this innovation—headquartered in Stamford, Connecticut—employs approximately 20 individuals in both domestic and international markets and commenced operations roughly two years ago with alpha testing scheduled for mid-2024. A broader rollout is anticipated by late 2025.
The Smart TV Market Dynamics
Swanston estimates that virtually all televisions sold over the past seven years have integrated smart features—a substantial market ripe for exploration.
For launch titles alone, he predicts there could be hundreds available, targeting figures similar to established leaders within this competitive sector today.
No Plans for Proprietary Hardware
Tellingly, Swanston clarified there aren’t any intentions of launching proprietary hardware like set-top boxes or gaming consoles:
“Our goal is accessibility via devices people already own,” he asserted. “We believe there’s tremendous potential as a premier solution focused on smart TVs.” The service will also extend compatibility with desktop computers and mobile devices but primarily aims at enhancing user experiences.
Navigating Controller Availability Challenges
A pivotal concern revolves around how new entrants in the smart TV space will provide users with controllers suitable for gameplay experiences. For casual gamers starting out; utilizing remote controls or smartphones provides an easy entry point into this digital landscape while acquiring traditional controllers typically presents no significant financial burden.
