EOT/EON Foundation featured on Silicon Valley NewsPaper

Link:https://www.bizjournals.com/sanjose/news/2018/07/02/eon-foundation-blockchain-gaming.html

Eon Foundation helps blockchain game developers distribute and monetize their games. They’ve created the Eon Protocol — a publicly accessible system of smart contracts that can be used to exchange traffic among developers and gamers. They’re also building a decentralized game network called the Eon Network.

The Pitch is a weekly profile of startups in the Silicon Valley Business Journal. The paper does not endorse the companies featured, nor is this an invitation to invest.

How it makes money
In the short term, Eon Foundation's money comes via a revenue share from publishing blockchain games. It provides consulting services to game developers who want to build blockchain games or tokenize their traditional games. Over time, Eon Foundation plans to launch a decentralized network composed of blockchain games. Eon token will be used to exchange traffic on the network and the company will monetize by taking transaction fees at that time.

Business it may disrupt
Game publishing, which is now a multibillion-dollar business with a few very large companies holding most of the power.

Management team
The company was co-founded by Aron Lyu, Tao Hu and Sunny Sun. Lyu and Hu met at a University of Southern California alumni reunion. Lyu is the former product lead for Toutiao USA (Topbuzz) and a former entrepreneur-in-residence of Morningside Ventures. Hu was previously an engineer at Oculus/Facebook. Sun is a former Facebook ad engineer.

Advisers
Anshul Dhawan, a gaming industry veteran and early Zynga employee; Michael Zyda, the founding director of USC Gamepipe Laboratory; Feng Li, a former partner of IDG and an early investor of Coinbase and Ripple.

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Money sought
Eon Foundation just closed a $5 million dollar seed round.

Partnerships, collaborations or affiliations
Eon Foundation is affiliated with InnoVision, the creators of the augmented reality game ARCat.

Potential market
In 2017, revenue from the global games market (software) reached over $116 billion, according to a report by Newzoo. For game publishing and distribution, the market size is estimated to be between 30 percent and 50 percent of that.

Likely competitors
Major game publishers like Steam or Google are indirect competitors.