{"id":7028,"date":"2022-09-14T09:14:05","date_gmt":"2022-09-14T01:14:05","guid":{"rendered":"https:\/\/www.skyarkchronicles.com\/staging\/?post_type=news&p=7028"},"modified":"2022-09-14T09:14:05","modified_gmt":"2022-09-14T01:14:05","slug":"a-retrenchment-led-this-sporean-to-pursue-gaming-now-runs-binance-backed-crypto-gaming-firm","status":"publish","type":"news","link":"https:\/\/www.skyarkchronicles.com\/staging\/news\/a-retrenchment-led-this-sporean-to-pursue-gaming-now-runs-binance-backed-crypto-gaming-firm\/","title":{"rendered":"A retrenchment led this S\u2019porean to pursue gaming \u2013 now runs Binance-backed crypto gaming firm"},"content":{"rendered":"
Retrenchment is a fear many of us have: it means the loss of a job, and with it, the income and ability to support oneself. For those of us with dependents such as a spouse, children, or elderly parents to take care of, the damage can be far worse.<\/p>\n
However, retrenchment does not have to be fatal. It can be a stepping stone, and a forced leap of faith that many of us need to take, but never had the courage to take by ourselves.<\/p>\n
This was the story for Chris Ng, who was retrenched from his job as a business analyst after eight years of working at a software development firm.<\/p>\n
As the sole breadwinner and father of a newborn son, this was a heavy blow for him. Gone were the days of earning a comfortable salary at a stable job, and tough times were ahead.<\/p>\n
Yet today, against all odds, Chris has successfully exited from one startup that he founded, and is now building a new company.<\/p>\n
Gamers never die; they just respawn<\/h2>\n
As Chris was leaving his old workplace, his boss asked him what his next move was. It was clear to him what he wanted to do next: start his own gaming company.<\/p>\n
I had always wanted to go into mobile gaming as it was on the uptrend after [conducting] my own research, plus I had always been interested in it. I have loved gaming since the age of six when I started watching my two older brothers play console games.<\/p>\n
It has been a part of my life for more than 30 years, and I have always wanted to be a part of the industry. [Furthermore], there weren\u2019t many gaming companies in Singapore at the time.<\/p>\n
\u2013 Chris Ng, founder of XII Braves and SkyArk Studio<\/cite><\/p><\/blockquote>\n
But knowing where you want to go and actually getting there, are two very different things. From the get-go, Chris realised that he would face immense challenges in building his own gaming company.<\/p>\n
For one, Chris knew that it would take a significant amount of capital to get started. By his own estimates, he would need about US$1 million in investment for the new venture to succeed \u2014 this is not a small amount to raise for someone without any prior entrepreneurial experience.<\/p>\n
I had no experience starting a company or fundraising, so it was definitely difficult to raise the US$1 million I needed to start the business. Even my friends and ex-colleagues had doubts about my valuation, and told me it would be impossible to raise that much money.<\/p>\n
\u2013 Chris Ng, founder of XII Braves and SkyArk Studio<\/cite><\/p><\/blockquote>\n
On top of this, investors criticised his idea, viewing gaming as a frivolous hobby instead of a lucrative pursuit. Chris refused to let this weigh him down, and instead roped in a childhood friend who was working in an established gaming company as a co-founder.<\/p>\n
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