League of Legends developer secures $8 million

Defense of the Ancients. It’s hot and it’s the game to make it seems. League of Legends is one of those games and it’s set to be a free-to-play title when it releases in October. It’s so hot that developer Riot Games have secured $8 million in financing from Chinese company Tencent alongside continued financing from Benchmark Capital and FirstMark Capital, reports Gamastura.

Tencent will provide services for the game in Chin. “Tencent knows their audience and digital goods, and after good, deep due diligence where they played the game and talked to us about our philosophy,” said Riot Games president Marc Merill, “there’s a lot of synergy around how we want to create products based around the end users.” It will be interesting to see the audience response to League of Legends when it’s released. With more free-to-play titles being exposed to western audiences, the answer to whether or not the business model is capable of succeeding will be more evident than ever.