Axion Ventures Inc. (TSX-V: AXV) today announced that Rising Fire, a massively multiplayer, third-person shooter role playing PC-online game developed by its subsidiary, Axion Games Limited has completed closed beta two testing. Tencent Holdings Limited (HKSE:0700) initially began the closed beta two testing of Rising Fire on December 21, 2017, running for a period of 80 days before concluding March 10, 2018.

“Our retention rate improved 18% to 54.09% during this final stage of testing of Rising Fire, compared to the closed beta one baseline, indicating that we’re ready for commercial launch,” said Todd Bonner, CEO and Chairman of Axion Ventures. “Our closed beta two results reflect the tremendous resources and effort that our team in collaboration with Tencent has invested into the Rising Fire franchise. While various other global regions remain open for potential rights sales, China represents the single largest marketplace for online games and after many years of development, we’re excited to launch the game publicly.”

Axion Games, in consultation with its development and publishing partner, Tencent, is currently reviewing participant log files following the completion of closed beta two and have reiterated the planned public open beta launch period of late Q2 2018. Axion Ventures anticipates providing an official date in the coming weeks.

Rising Fire

Rising Fire is a 600 man-year, third-person shooter, role-playing game that has been initially developed for the PC platform in China. The game contains 7 player classes, 20 levels, 30+ maps and more than 160 weapon parts providing players with endless customization. Five player versus player (PvP) and player versus environment (PvE) modules are offered allowing users to complete in solo game play featuring artificial intelligence or multiplayer, interactive e-sports events. Tencent, the largest video game publisher in the world, will distribute the game in China under a multi-year agreement. Tencent maintains a dominating presence in the Chinese video game market and Rising Fire is one of only several games in its 2018 line-up. Axion Games expects to expand Rising Fire’s intellectual property over time to include other platforms such as console and mobile, as well as to other countries outside of China. This also includes the integration of a battle royale derivative (commonly known as a co-op sandbox survival game) of Rising Fire currently under development that leverages Axion Games’ deep outsourcing experience with its original joint venture partner, Epic Games, in addition to similar derivatives for its other portfolio of games.

About Axion Ventures

Axion Ventures is an Investment Issuer with majority ownership in Axion Games, an online video game development and publishing company headquartered in Shanghai, China as well as in True Axion Interactive Ltd., a video game development company headquartered in Bangkok, Thailand cofounded with True Corporation. Axion Ventures also maintains holdings in other innovative technology companies.