The Moscow Exchange is stepping up efforts to attract Russian video game developers to the stock market. According to my information, the platform is already in talks with industry associations, and some companies are showing serious interest in a public listing. This is not just one-off consultations, but systematic work that could open a new chapter in the history of the local game dev industry.
This concerns more than 150 Russian companies specializing in video game creation. The key argument in favor of their stock market debut is the high profitability of this business. Global practice confirms: game studios successfully use exchange financing to scale. For comparison, about a hundred such companies are listed on the Warsaw Stock Exchange, 50 on NASDAQ Stockholm, and roughly 30 on U.S. platforms. Our market is still seriously lagging behind in this regard.
Betting on a new asset class
For the gaming sector, blockchain and cryptocurrencies have long ceased to be exotic. Technologies like Play-to-Earn and NFT are changing the economics of games, where in-game items transition into full ownership of gamers. Against this backdrop, developers entering organized trading looks like a logical continuation of evolution. For studios, this is an alternative to venture rounds and loans, and for investors, access to a completely new asset class with high growth potential.
The Video Game Association acts as a bridge between the industry and the exchange. It is through this association that the platform selects candidates ready to disclose reporting and meet the requirements of public status. Specific names have not been mentioned yet, but the association already includes several companies that could potentially go public.
Infrastructure changes
In parallel, the Moscow Exchange is strengthening its infrastructure. Since September 14, the main session on four markets has been extended to 10 hours, giving investors an extra hour for trading. In the summer, the platform also launched an AI-based system to identify trades with signs of market manipulation and insider trading.
The creation of a video game council in the "Innovation and Investment Market" sector is a focal point for future issuers. It will allow for the development of unified approaches to valuing studios and preparing them for listing.
My view: The initiative is timely, but the risks are obvious. Game studios have unstable cash flow and dependence on hits. The exchange will need a flexible valuation methodology to prevent overheating in this segment. Nevertheless, for investors, this is a rare opportunity to enter the creative economy at an early stage, and I will be closely watching how events unfold.