Good
Gaming Inc. Announces Letter to Shareholders
Kennett Square, PA -- January 4, 2021 --
InvestorsHub NewsWire -- Good Gaming, Inc. (OTCQB:
GMER) (the "Company"), an innovative brand leading the gaming
industry across multiple segments in the space since 2008, today
released a letter to shareholders from Chairman and CEO David
Dorwart.
Dear Fellow
Shareholders:
We are excited to enter 2022 with Good Gaming in a position
of strength unlike any other period in its history. The tireless
work of our dedicated team throughout 2021 has solidified our
foundation for long-term growth, and I am pleased to take this
opportunity to summarize our recent business developments,
significant achievements of the last year, as well as provide some
insight into the strategic direction of Good Gaming for 2022 and
beyond.
Executing on our vision of pioneering the NFT gaming space,
we culminated our successes of 2021 with the much-anticipated
official mainnet launch of our first-to-market collectible NFT game
MicroBuddies™ on December 17th. Our team's ability to take
MicroBuddies™ from concept to full launch in under a year is
nothing short of phenomenal and clearly demonstrates our ability to
capitalize on opportunities in the rapidly evolving gaming
market.
When we pivoted to crypto gaming in early 2021, we were
building upon an already amazing history in the gaming space. We
actually got started in gaming back in 2008 and really began making
a name for ourselves in 2014 when we started creating competitive
eSports tournaments for Blizzard Entertainment's Hearthstone, a
free-to-play online digital collectible card game.
After becoming the go-to for anything Hearthstone-related, we
capitalized on the surging popularity of Minecraft servers.
Ultimately, we created some of the most popular private-server
versions of Prison and Skyblock, two of the most popular game modes
in Minecraft. We also went on to build huge communities in the
process. And now we intend to do the same with NFT
gaming.
Our community building in this arena is already off to a
tremendous start with more than 6,000 members on our MicroBuddies™
Discord channel, more than 22,000 followers on Twitter, and over
36,000 Instagram followers. As we continue to expand partnerships
with NFT and crypto influencers and pursue targeted online ads to
drive increased awareness, we believe these numbers will grow
significantly in 2022.
Completing the development and launch of MicroBuddies™ was
made possible in part by our achievement of key milestones in 2021,
including our listing on the OTCQB in September and the subsequent
$3.1 million PIPE financing we closed in November.
Finally, we ended the year by restructuring our outstanding
debt, converting $2.7 million worth of debt into preferred equity.
This conversion, which removes an expected $16.5 million of
derivative liabilities from our balance sheet, combined with the
proceeds of our PIPE offering, gives Good Gaming a much more robust
and healthier balance sheet as we enter 2022,
while eliminating the potential
impact of derivative liability losses on our financial statements
moving forward.
Looking ahead, our team will continue the development of
MicroBuddies™ in 2022 through code enhancements, user experience
and user interface upgrades, and bug fixes. Our focus on improving
gameplay includes plans to add functionality and visual
enhancements, remove the occasional error messages, and address
suggestions and requests from our passionate and rapidly growing
Discord community.
We also plan to incorporate the ability to browse OpenSea
listings directly from within MicroBuddies™, empowering players
with robust sorting tools and other relevant features to support
the best possible user experience for our community.
Another exciting area with tremendous potential that we are
exploring is the incorporation of PFP and other community-based
projects that will allow us to increase our exposure to the booming
NFT industry and bridge the gaps between additional game releases..
PFPs, or profile pictures designed to be used as social media
avatars, were some of the first NFTs ever made. During the NFT boom
in the first half of 2021, many PFPs went on to command
multi-million-dollar prices, including Sotheby's sale of
CryptoPunk #7423 in June
for more than $11.7 million.
In the bigger picture, our five-year strategic plan includes
the release of multiple games with increasing complexity. These
games will be interwoven with a comprehensive and engaging
community where members feel they are part of an exclusive club,
and we will support the growth of this community through proven
tactics we have employed in past endeavors, including competitions,
exclusive perks, and attractive giveaways.
One of the things we have learned through experience is that
success in this arena is about more than just game development.
NFTs and crypto gaming really bolt onto the larger idea of creating
a lifestyle and community. This is the secret sauce that fosters
highly engaged, die-hard brand loyalists.
Our ultimate vision leverages the interoperability of the
blockchain to create opportunities for our players to utilize GOO,
our in-game currency, in various ways, across different projects
and games. This vision is about providing our gamers with the
opportunity to participate in an entire lifestyle to keep them
engaged, much like the idea of the metaverse, or in our case, a
"microverse."
An outgrowth of this lifestyle approach and a demonstration
of the strength of our rapidly growing community can be found in
the upcoming launch of our merchandise store for MicroBuddies™, a
feature our dedicated community members practically demanded, where
they can go to purchase shirts, hats, mugs, bags, and more. Going
forward, we will have a lot more opportunities to generate various
revenue streams within this community as it continues to
grow.
With so much potential on the near-term horizon, we are
moving ahead on plans to expand our executive management team with
the addition of key hires with proven track records of success in
the gaming industry and social media platforms. Our expanding
executive team will give us the additional contacts and technical
expertise needed by having the right people in the right place
at the right time!
We wholeheartedly believe that crypto gaming and NFTs will
absolutely revolutionize all aspects of gaming in the future.
Players want to truly own their assets and blockchain smart
contracts now ensure that game development companies like Good
Gaming can continue to earn revenue even after the asset transfers
to players outside of its game. This monumental trend is
irrefutable, and it is coming in a big way!
I couldn't be more thrilled with the position of Good Gaming
as we enter 2022 and believe this will be a breakout year for the
Company as we take advantage of lucrative opportunities in the
fast-moving and exciting world of NFT gaming that we are
pioneering.
Thank you to all our shareholders for your support on this
exciting journey. The best is yet to come!
Sincerely,
David Dorwart
Chairman & CEO
Good Gaming, Inc.
About Good Gaming:
Good Gaming is an innovative brand leading the gaming
industry across multiple segments in the space since 2008.
Beginning with our roots as a collaborative space for gamers to
share their knowledge, we went on to establish ourselves as one of
the leaders in hosting Hearthstone tournaments. In 2016, we
expanded our reach to include establishing multiple Minecraft
servers with some of the most popular versions of Prison and
SkyBlock, then developing our completely custom-developed NFT
blockchain game, MicroBuddies™, in 2021. The Good Gaming advantage
comes from our development team's close relationship with the
player communities of all of our games. The constant communication
and resulting feedback further expand our proprietary content, and
we continue to be influencers in the realm. Good Gaming continues
to find exciting and innovative ways to branch across the gaming
industry. As a staff and community, our goal is to cement our place
as a fun and collaborative place for ALL gamers to
enjoy.
For more
information about Good Gaming, please visit our website:
https://www.good-gaming.com
Visit us on our social media platforms:
Discord: https://discord.gg/MicroBuddies
Telegram Group: https://t.me/microbuddiesio
Twitter: https://twitter.com/microbuddies,
https://twitter.com/GOODGMER
Reddit: https://www.reddit.com/r/MicroBuddies/
Instagram: https://www.instagram.com/goodgmer/
Facebook: https://www.facebook.com/microbuddiesofficial/,
https://www.facebook.com/GoodGMER,
https://www.facebook.com/GoodGamingMC
Twitch: https://www.twitch.tv/goodgaminginc
YouTube Channel: https://www.youtube.com/channel/UC3YyoK_Xdo7sfPmse898Nog/
Safe Harbor: This release contains statements that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
appear in a number of places in this release and include all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of Good Gaming Inc., its
directors or its officers with respect to, among other things: (i)
financing plans; (ii) trends affecting its financial condition or
results of operations; (iii) growth strategy and operating
strategy. The words "may," "would," "will," "expect," "estimate,"
"can," "believe," "potential," and similar expressions and
variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond Good Gaming
Inc.'s ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors. More information about the
potential factors that could affect the business and financial
results is and will be included in Good Gaming, Inc.'s filings with
the Securities and Exchange Commission, including those set forth
as "Risk Factors" in such filings.
Investor Contact:
Dave Gentry,
CEO
RedChip
Companies Inc.
407-491-4498
Dave@redchip.com